Rhumbline Advisers Purchases 6,440 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Rhumbline Advisers raised its stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 6.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,837 shares of the company’s stock after buying an additional 6,440 shares during the period. Rhumbline Advisers owned 0.10% of Edgewise Therapeutics worth $2,394,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Baker BROS. Advisors LP lifted its holdings in Edgewise Therapeutics by 5.4% in the fourth quarter. Baker BROS. Advisors LP now owns 6,155,940 shares of the company’s stock valued at $164,364,000 after buying an additional 315,881 shares during the period. Janus Henderson Group PLC boosted its stake in Edgewise Therapeutics by 9.3% in the fourth quarter. Janus Henderson Group PLC now owns 4,983,940 shares of the company’s stock valued at $133,044,000 after acquiring an additional 425,421 shares during the last quarter. Paradigm Biocapital Advisors LP boosted its stake in Edgewise Therapeutics by 61.1% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 4,493,929 shares of the company’s stock valued at $119,988,000 after acquiring an additional 1,704,757 shares during the last quarter. Braidwell LP lifted its stake in shares of Edgewise Therapeutics by 19.1% during the 4th quarter. Braidwell LP now owns 2,332,196 shares of the company’s stock valued at $62,270,000 after buying an additional 373,886 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C lifted its stake in shares of Edgewise Therapeutics by 16.7% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 2,078,509 shares of the company’s stock valued at $55,496,000 after buying an additional 297,503 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on EWTX shares. Royal Bank of Canada reissued an “outperform” rating and issued a $48.00 price target on shares of Edgewise Therapeutics in a report on Thursday, June 5th. Guggenheim began coverage on shares of Edgewise Therapeutics in a research report on Wednesday, April 30th. They issued a “buy” rating and a $41.00 target price for the company. Scotiabank cut shares of Edgewise Therapeutics from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $50.00 to $14.00 in a report on Wednesday, April 2nd. Piper Sandler reiterated an “overweight” rating and issued a $51.00 price target on shares of Edgewise Therapeutics in a research note on Wednesday, April 2nd. Finally, Wedbush reissued an “outperform” rating and issued a $43.00 price objective on shares of Edgewise Therapeutics in a report on Monday, April 21st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.78.

Insider Buying and Selling at Edgewise Therapeutics

In other news, insider Alan J. Russell sold 1,551 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $16.45, for a total transaction of $25,513.95. Following the completion of the sale, the insider now directly owns 18,521 shares of the company’s stock, valued at approximately $304,670.45. The trade was a 7.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel John R. Moore sold 1,930 shares of the company’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $16.45, for a total transaction of $31,748.50. Following the completion of the sale, the general counsel now directly owns 6,531 shares of the company’s stock, valued at approximately $107,434.95. This trade represents a 22.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,258 shares of company stock worth $234,544 over the last quarter. Insiders own 23.20% of the company’s stock.

Edgewise Therapeutics Stock Performance

EWTX stock opened at $14.68 on Tuesday. Edgewise Therapeutics, Inc. has a one year low of $10.60 and a one year high of $38.12. The company’s fifty day moving average price is $14.48 and its 200-day moving average price is $22.09. The company has a market capitalization of $1.54 billion, a PE ratio of -9.79 and a beta of 0.28.

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

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.