Barclays PLC Increases Position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Barclays PLC raised its position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 291.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 119,350 shares of the company’s stock after purchasing an additional 88,826 shares during the period. Barclays PLC owned approximately 0.13% of Edgewise Therapeutics worth $3,186,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Novo Holdings A S bought a new position in shares of Edgewise Therapeutics during the 2nd quarter valued at about $114,263,000. Braidwell LP bought a new position in Edgewise Therapeutics during the third quarter valued at approximately $52,267,000. Janus Henderson Group PLC grew its position in Edgewise Therapeutics by 74.8% during the third quarter. Janus Henderson Group PLC now owns 4,558,519 shares of the company’s stock valued at $121,616,000 after acquiring an additional 1,951,220 shares during the last quarter. Millennium Management LLC raised its stake in shares of Edgewise Therapeutics by 115.2% during the second quarter. Millennium Management LLC now owns 1,145,506 shares of the company’s stock worth $20,631,000 after acquiring an additional 613,251 shares in the last quarter. Finally, Sofinnova Investments Inc. bought a new stake in shares of Edgewise Therapeutics in the 2nd quarter worth approximately $8,567,000.

Edgewise Therapeutics Price Performance

Shares of NASDAQ:EWTX opened at $29.98 on Tuesday. The stock’s 50-day moving average is $32.81 and its 200 day moving average is $24.66. The company has a market cap of $2.84 billion, a PE ratio of -19.99 and a beta of 0.12. Edgewise Therapeutics, Inc. has a 1 year low of $9.00 and a 1 year high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its earnings results on Thursday, November 7th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.01. Analysts expect that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EWTX. Royal Bank of Canada reiterated an “outperform” rating and issued a $32.00 target price on shares of Edgewise Therapeutics in a research report on Tuesday, September 17th. Truist Financial lifted their price objective on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Wedbush raised their price target on Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Piper Sandler boosted their price objective on Edgewise Therapeutics from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, Evercore ISI raised their target price on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Edgewise Therapeutics presently has an average rating of “Buy” and an average target price of $43.17.

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.