Edgewise Therapeutics, Inc. $EWTX Shares Acquired by Swiss National Bank

Swiss National Bank lifted its stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 12.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 82,600 shares of the company’s stock after purchasing an additional 9,000 shares during the quarter. Swiss National Bank owned about 0.08% of Edgewise Therapeutics worth $1,817,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EWTX. Wells Fargo & Company MN increased its holdings in shares of Edgewise Therapeutics by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 33,918 shares of the company’s stock valued at $906,000 after purchasing an additional 11,561 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Edgewise Therapeutics by 32.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 14,678 shares of the company’s stock valued at $392,000 after purchasing an additional 3,561 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Edgewise Therapeutics by 5.7% in the fourth quarter. Legal & General Group Plc now owns 50,292 shares of the company’s stock valued at $1,343,000 after purchasing an additional 2,734 shares during the last quarter. Barclays PLC increased its holdings in shares of Edgewise Therapeutics by 12.0% in the fourth quarter. Barclays PLC now owns 133,657 shares of the company’s stock valued at $3,568,000 after purchasing an additional 14,307 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Edgewise Therapeutics by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 729,923 shares of the company’s stock valued at $19,491,000 after purchasing an additional 3,052 shares during the last quarter.

Insider Transactions at Edgewise Therapeutics

In other news, insider Alan J. Russell sold 1,907 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total transaction of $25,534.73. Following the completion of the transaction, the insider directly owned 23,400 shares in the company, valued at $313,326. This trade represents a 7.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kevin Koch sold 7,972 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total value of $106,745.08. Following the transaction, the chief executive officer owned 30,615 shares of the company’s stock, valued at approximately $409,934.85. This represents a 20.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,267 shares of company stock valued at $217,815. Corporate insiders own 23.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on EWTX shares. HC Wainwright started coverage on Edgewise Therapeutics in a report on Monday, June 30th. They issued a “buy” rating and a $42.00 price target for the company. Royal Bank Of Canada raised their target price on Edgewise Therapeutics from $48.00 to $49.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Raymond James Financial initiated coverage on Edgewise Therapeutics in a research note on Wednesday, July 30th. They set a “strong-buy” rating and a $46.00 target price for the company. JPMorgan Chase & Co. cut their target price on Edgewise Therapeutics from $40.00 to $30.00 and set an “overweight” rating for the company in a research note on Tuesday, August 19th. Finally, Guggenheim initiated coverage on Edgewise Therapeutics in a research note on Wednesday, April 30th. They set a “buy” rating and a $41.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $40.55.

Edgewise Therapeutics Stock Up 1.6%

EWTX stock opened at $14.85 on Friday. Edgewise Therapeutics, Inc. has a 52-week low of $10.60 and a 52-week high of $38.12. The business has a fifty day moving average of $13.79 and a two-hundred day moving average of $17.12. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -9.58 and a beta of 0.26.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.08. As a group, sell-side analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current 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.