33,079 Shares in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. acquired a new stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 33,079 shares of the company’s stock, valued at approximately $883,000.

Several other institutional investors and hedge funds have also recently modified their holdings of EWTX. Barclays PLC grew its stake in Edgewise Therapeutics by 291.0% during the third quarter. Barclays PLC now owns 119,350 shares of the company’s stock valued at $3,186,000 after acquiring an additional 88,826 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Edgewise Therapeutics by 84.2% during the 3rd quarter. Franklin Resources Inc. now owns 45,223 shares of the company’s stock valued at $1,207,000 after purchasing an additional 20,674 shares during the last quarter. Exome Asset Management LLC bought a new position in shares of Edgewise Therapeutics during the 3rd quarter valued at about $1,599,000. JPMorgan Chase & Co. grew its position in shares of Edgewise Therapeutics by 146.3% during the third quarter. JPMorgan Chase & Co. now owns 158,506 shares of the company’s stock valued at $4,231,000 after purchasing an additional 94,147 shares in the last quarter. Finally, Moody Aldrich Partners LLC increased its holdings in shares of Edgewise Therapeutics by 24.3% in the fourth quarter. Moody Aldrich Partners LLC now owns 187,932 shares of the company’s stock worth $5,018,000 after purchasing an additional 36,775 shares during the last quarter.

Insider Transactions at Edgewise Therapeutics

In related news, insider Alan J. Russell sold 1,200 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $30.13, for a total value of $36,156.00. Following the completion of the sale, the insider now owns 14,863 shares in the company, valued at approximately $447,822.19. The trade was a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Orbimed Advisors Llc acquired 496,771 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average cost of $20.13 per share, for a total transaction of $10,000,000.23. Following the purchase, the director now owns 14,809,075 shares of the company’s stock, valued at $298,106,679.75. This represents a 3.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 34,836 shares of company stock worth $986,245. 24.11% of the stock is currently owned by insiders.

Edgewise Therapeutics Trading Down 1.1 %

Shares of NASDAQ:EWTX opened at $13.30 on Tuesday. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -8.87 and a beta of 0.32. Edgewise Therapeutics, Inc. has a 12 month low of $10.60 and a 12 month high of $38.12. The firm’s 50-day moving average is $21.20 and its 200 day moving average is $27.20.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on EWTX. Wedbush restated an “outperform” rating and set a $43.00 price target on shares of Edgewise Therapeutics in a report on Monday. Royal Bank of Canada reduced their price target on shares of Edgewise Therapeutics from $56.00 to $52.00 and set an “outperform” rating on the stock in a research report on Thursday, April 3rd. Scotiabank lowered shares of Edgewise Therapeutics from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $50.00 to $14.00 in a research report on Wednesday, April 2nd. Stifel Nicolaus assumed coverage on shares of Edgewise Therapeutics in a report on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 target price on the stock. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $51.00 price target on shares of Edgewise Therapeutics in a report on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.13.

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.