KLP Kapitalforvaltning AS Has $139,000 Holdings in Edgewise Therapeutics, Inc. $EWTX

KLP Kapitalforvaltning AS raised its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 55.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,600 shares of the company’s stock after acquiring an additional 3,800 shares during the period. KLP Kapitalforvaltning AS’s holdings in Edgewise Therapeutics were worth $139,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EWTX. SG Americas Securities LLC bought a new position in Edgewise Therapeutics in the first quarter valued at about $283,000. Arizona State Retirement System grew its position in Edgewise Therapeutics by 12.3% in the first quarter. Arizona State Retirement System now owns 12,201 shares of the company’s stock valued at $268,000 after acquiring an additional 1,338 shares during the last quarter. Jennison Associates LLC bought a new position in Edgewise Therapeutics in the first quarter valued at about $2,832,000. Readystate Asset Management LP grew its position in Edgewise Therapeutics by 1,591.0% in the first quarter. Readystate Asset Management LP now owns 361,233 shares of the company’s stock valued at $7,947,000 after acquiring an additional 339,871 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ bought a new position in Edgewise Therapeutics in the first quarter valued at about $827,000.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on EWTX shares. JPMorgan Chase & Co. decreased their target price on Edgewise Therapeutics from $40.00 to $30.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Wednesday, October 8th. HC Wainwright initiated coverage on Edgewise Therapeutics in a report on Monday, June 30th. They set a “buy” rating and a $42.00 price target on the stock. The Goldman Sachs Group initiated coverage on Edgewise Therapeutics in a report on Thursday, September 25th. They set a “neutral” rating and a $20.00 price target on the stock. Finally, Raymond James Financial initiated coverage on Edgewise Therapeutics in a report on Wednesday, July 30th. They set a “strong-buy” rating and a $46.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Edgewise Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $38.83.

Insider Buying and Selling

In other Edgewise Therapeutics news, CEO Kevin Koch sold 7,972 shares of the business’s stock in a transaction that occurred 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 directly owned 30,615 shares of the company’s stock, valued at approximately $409,934.85. The trade was a 20.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alan J. Russell sold 100,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $14.60, for a total value of $1,460,000.00. Following the transaction, the insider owned 23,400 shares in the company, valued at $341,640. The trade was a 81.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,267 shares of company stock valued at $1,677,815. Insiders own 23.20% of the company’s stock.

Edgewise Therapeutics Price Performance

Shares of EWTX stock opened at $15.51 on Wednesday. The business’s 50 day simple moving average is $14.86 and its 200 day simple moving average is $14.33. Edgewise Therapeutics, Inc. has a one year low of $10.60 and a one year high of $38.12. The stock has a market capitalization of $1.63 billion, a PE ratio of -10.01 and a beta of 0.28.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its earnings results on Thursday, August 7th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.08. As a group, research analysts expect that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

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.