Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Shares Acquired by Alliancebernstein L.P.

Alliancebernstein L.P. lifted its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 1.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 77,260 shares of the company’s stock after purchasing an additional 1,300 shares during the period. Alliancebernstein L.P. owned approximately 0.08% of Edgewise Therapeutics worth $2,063,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its stake in shares of Edgewise Therapeutics by 84.2% in the third quarter. Franklin Resources Inc. now owns 45,223 shares of the company’s stock worth $1,207,000 after acquiring an additional 20,674 shares in the last quarter. Amundi increased its holdings in Edgewise Therapeutics by 127.2% during the 4th quarter. Amundi now owns 341,687 shares of the company’s stock worth $8,686,000 after purchasing an additional 191,267 shares during the period. Victory Capital Management Inc. acquired a new stake in Edgewise Therapeutics in the 4th quarter valued at about $576,000. Artisan Partners Limited Partnership boosted its stake in shares of Edgewise Therapeutics by 7.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,071,596 shares of the company’s stock valued at $28,612,000 after buying an additional 70,964 shares during the period. Finally, Intech Investment Management LLC grew its position in shares of Edgewise Therapeutics by 75.1% during the fourth quarter. Intech Investment Management LLC now owns 34,844 shares of the company’s stock worth $930,000 after buying an additional 14,944 shares in the last quarter.

Insider Activity

In related news, CEO Kevin Koch sold 8,636 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $30.03, for a total transaction of $259,339.08. Following the transaction, the chief executive officer now owns 14,478 shares of the company’s stock, valued at $434,774.34. This trade represents a 37.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Orbimed Advisors Llc acquired 496,771 shares of Edgewise Therapeutics stock in a transaction on Thursday, April 3rd. The shares were bought at an average cost of $20.13 per share, with a total value of $10,000,000.23. Following the completion of the purchase, the director now owns 14,809,075 shares in the company, valued at $298,106,679.75. The trade was a 3.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 34,836 shares of company stock valued at $986,245 in the last ninety days. 24.11% of the stock is currently owned by company insiders.

Edgewise Therapeutics Stock Performance

Shares of EWTX stock opened at $13.03 on Thursday. The stock’s 50-day moving average is $21.97 and its two-hundred day moving average is $27.49. 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 $1.37 billion, a price-to-earnings ratio of -8.69 and a beta of 0.32.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results on Monday, March 3rd. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.03). As a group, research analysts predict that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Analyst Ratings Changes

EWTX has been the subject of a number of recent research reports. Scotiabank downgraded shares of Edgewise Therapeutics from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $50.00 to $14.00 in a research note on Wednesday, April 2nd. Stifel Nicolaus started coverage on shares of Edgewise Therapeutics in a research report on Wednesday, January 22nd. They set a “hold” rating and a $30.00 price objective for the company. Royal Bank of Canada cut their price target on Edgewise Therapeutics from $56.00 to $52.00 and set an “outperform” rating on the stock in a research note on Thursday, April 3rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $51.00 price objective on shares of Edgewise Therapeutics in a report on Wednesday, April 2nd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.38.

Edgewise Therapeutics 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.