Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Position Lifted by Quantum Private Wealth LLC

Quantum Private Wealth LLC lifted its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 2.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 63,219 shares of the company’s stock after buying an additional 1,500 shares during the quarter. Quantum Private Wealth LLC’s holdings in Edgewise Therapeutics were worth $692,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of EWTX. Legal & General Group Plc increased its stake in Edgewise Therapeutics by 41.2% during the 4th quarter. Legal & General Group Plc now owns 3,634 shares of the company’s stock valued at $32,000 after buying an additional 1,060 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Edgewise Therapeutics by 395.2% in the third quarter. Tower Research Capital LLC TRC now owns 6,056 shares of the company’s stock worth $35,000 after acquiring an additional 4,833 shares in the last quarter. Royal Bank of Canada increased its position in shares of Edgewise Therapeutics by 82.8% in the second quarter. Royal Bank of Canada now owns 5,164 shares of the company’s stock worth $40,000 after acquiring an additional 2,339 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Edgewise Therapeutics by 349.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock worth $80,000 after acquiring an additional 5,704 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Edgewise Therapeutics by 11.2% in the first quarter. Principal Financial Group Inc. now owns 12,178 shares of the company’s stock worth $81,000 after acquiring an additional 1,230 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on EWTX shares. Wedbush reissued an “outperform” rating and issued a $26.00 target price on shares of Edgewise Therapeutics in a research report on Tuesday. Piper Sandler initiated coverage on shares of Edgewise Therapeutics in a research report on Thursday, March 7th. They issued an “overweight” rating and a $48.00 price target on the stock.

Edgewise Therapeutics Stock Down 3.5 %

NASDAQ EWTX traded down $0.58 on Wednesday, hitting $16.05. 254,237 shares of the company were exchanged, compared to its average volume of 944,600. The firm has a 50 day moving average of $17.30 and a two-hundred day moving average of $11.88. Edgewise Therapeutics, Inc. has a 1-year low of $5.12 and a 1-year high of $20.69.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.03). On average, research analysts expect that Edgewise Therapeutics, Inc. will post -1.76 earnings per share for the current fiscal year.

Insider Activity

In other Edgewise Therapeutics news, Director Peter A. Thompson bought 454,545 shares of Edgewise Therapeutics stock in a transaction dated Tuesday, January 23rd. The shares were bought at an average price of $11.00 per share, with a total value of $4,999,995.00. Following the purchase, the director now owns 14,436,497 shares of the company’s stock, valued at $158,801,467. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Edgewise Therapeutics news, Director Peter A. Thompson bought 454,545 shares of Edgewise Therapeutics stock in a transaction dated Tuesday, January 23rd. The shares were bought at an average price of $11.00 per share, with a total value of $4,999,995.00. Following the purchase, the director now owns 14,436,497 shares of the company’s stock, valued at $158,801,467. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Behrad Derakhshan sold 4,600 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $20.01, for a total transaction of $92,046.00. Following the completion of the transaction, the insider now directly owns 7,020 shares in the company, valued at approximately $140,470.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 120,622 shares of company stock valued at $2,032,766. 31.95% of the stock is currently owned by insiders.

Edgewise Therapeutics Company Profile

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.