MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $1.10 Million Stock Position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 4.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,313 shares of the company’s stock after acquiring an additional 1,595 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Edgewise Therapeutics were worth $1,103,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in EWTX. First Light Asset Management LLC bought a new stake in Edgewise Therapeutics during the 4th quarter worth approximately $20,843,000. Amundi boosted its holdings in shares of Edgewise Therapeutics by 127.2% in the fourth quarter. Amundi now owns 341,687 shares of the company’s stock valued at $8,686,000 after buying an additional 191,267 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Edgewise Therapeutics during the fourth quarter worth $576,000. Russell Investments Group Ltd. acquired a new stake in shares of Edgewise Therapeutics during the fourth quarter worth $883,000. Finally, Artisan Partners Limited Partnership raised its holdings in shares of Edgewise Therapeutics by 7.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,071,596 shares of the company’s stock worth $28,612,000 after acquiring an additional 70,964 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Royal Bank of Canada lowered their target price on Edgewise Therapeutics from $56.00 to $52.00 and set an “outperform” rating for the company in a report on Thursday, April 3rd. Piper Sandler reiterated an “overweight” rating and set a $51.00 price objective on shares of Edgewise Therapeutics in a report on Wednesday, April 2nd. Scotiabank cut Edgewise Therapeutics from a “sector outperform” rating to a “sector perform” rating and cut their target price for the company from $50.00 to $14.00 in a research note on Wednesday, April 2nd. Wedbush reaffirmed an “outperform” rating and set a $43.00 price target on shares of Edgewise Therapeutics in a research note on Monday, April 21st. Finally, Guggenheim assumed coverage on shares of Edgewise Therapeutics in a report on Wednesday, April 30th. They issued a “buy” rating and a $41.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.22.

Edgewise Therapeutics Trading Up 1.4%

NASDAQ EWTX opened at $14.21 on Monday. Edgewise Therapeutics, Inc. has a 12 month low of $10.60 and a 12 month high of $38.12. The stock has a 50 day moving average of $15.83 and a 200-day moving average of $24.10. The company has a market cap of $1.49 billion, a PE ratio of -9.47 and a beta of 0.36.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.02. As a group, sell-side analysts predict that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Insider Activity

In other Edgewise Therapeutics news, Director Orbimed Advisors Llc bought 496,771 shares of Edgewise Therapeutics stock in a transaction dated 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 purchase, the director now owns 14,809,075 shares of the company’s stock, valued at $298,106,679.75. The trade was a 3.47% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin Koch sold 4,276 shares of Edgewise Therapeutics stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $16.45, for a total transaction of $70,340.20. Following the transaction, the chief executive officer now directly owns 20,619 shares of the company’s stock, valued at approximately $339,182.55. This trade represents a 17.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,258 shares of company stock valued at $234,544. 23.20% of the stock is owned by company 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.