Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC decreased its stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 284,148 shares of the company's stock after selling 23,694 shares during the quarter. Voya Investment Management LLC owned about 0.30% of Edgewise Therapeutics worth $7,587,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of EWTX. Diadema Partners LP purchased a new stake in shares of Edgewise Therapeutics in the fourth quarter worth approximately $36,000. Tower Research Capital LLC TRC grew its holdings in shares of Edgewise Therapeutics by 1,097.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,676 shares of the company's stock worth $98,000 after purchasing an additional 3,369 shares during the last quarter. Quantbot Technologies LP purchased a new position in Edgewise Therapeutics in the 4th quarter worth about $103,000. KLP Kapitalforvaltning AS bought a new stake in Edgewise Therapeutics during the 4th quarter valued at about $182,000. Finally, Summit Investment Advisors Inc. grew its stake in Edgewise Therapeutics by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,594 shares of the company's stock worth $203,000 after acquiring an additional 482 shares in the last quarter.

Edgewise Therapeutics Trading Up 1.4 %

Shares of EWTX stock traded up $0.23 during mid-day trading on Friday, reaching $16.91. The stock had a trading volume of 1,428,721 shares, compared to its average volume of 1,155,399. Edgewise Therapeutics, Inc. has a 1-year low of $10.60 and a 1-year high of $38.12. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of -11.27 and a beta of 0.32. The business's fifty day moving average is $19.32 and its 200-day moving average is $26.32.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.03). On average, analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EWTX. Guggenheim started coverage on shares of Edgewise Therapeutics in a research report on Wednesday. They issued a "buy" rating and a $41.00 price target for the company. Stifel Nicolaus started coverage on Edgewise Therapeutics in a research report on Wednesday, January 22nd. They issued a "hold" rating and a $30.00 price target for the company. Piper Sandler reiterated an "overweight" rating and issued a $51.00 target price on shares of Edgewise Therapeutics in a research note on Wednesday, April 2nd. Royal Bank of Canada decreased their price target on shares of Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating for the company in a research report on Thursday, April 3rd. Finally, Wedbush reaffirmed an "outperform" rating and issued a $43.00 price objective on shares of Edgewise Therapeutics in a research report on Monday, April 21st. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $40.22.

Insider Buying and Selling

In other Edgewise Therapeutics news, CEO Kevin Koch sold 8,636 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $30.03, for a total transaction of $259,339.08. Following the completion of the transaction, the chief executive officer now directly owns 14,478 shares in the company, valued at approximately $434,774.34. This represents a 37.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Orbimed Advisors Llc purchased 496,771 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The stock was bought at an average cost of $20.13 per share, for a total transaction of $10,000,000.23. Following the completion of the purchase, the director now directly owns 14,809,075 shares in the company, valued at $298,106,679.75. This represents a 3.47 % increase in their position. The disclosure for this purchase can be found here. 24.11% of the stock is owned by corporate insiders.

About Edgewise Therapeutics

Edgewise Therapeutics, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of muscle disorders. Its lead product candidate, EDG-5506, an orally administered small molecule that is in Phase II clinical trials, designed to address the root cause of dystrophinopathies including Duchenne muscular dystrophy and Becker muscular dystrophy.