Rhumbline Advisers Purchases 14,041 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Rhumbline Advisers boosted its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 16.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 98,269 shares of the company’s stock after acquiring an additional 14,041 shares during the period. Rhumbline Advisers owned 0.11% of Edgewise Therapeutics worth $1,770,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. RA Capital Management L.P. bought a new position in shares of Edgewise Therapeutics in the first quarter valued at approximately $162,502,000. Baker BROS. Advisors LP lifted its holdings in shares of Edgewise Therapeutics by 87.6% in the first quarter. Baker BROS. Advisors LP now owns 5,840,059 shares of the company’s stock valued at $106,523,000 after purchasing an additional 2,727,273 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Edgewise Therapeutics by 89.0% in the first quarter. Vanguard Group Inc. now owns 4,017,433 shares of the company’s stock valued at $73,278,000 after purchasing an additional 1,892,053 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its holdings in shares of Edgewise Therapeutics by 214.2% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 2,667,203 shares of the company’s stock valued at $29,179,000 after purchasing an additional 1,818,181 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Edgewise Therapeutics by 48.6% in the first quarter. Janus Henderson Group PLC now owns 1,805,312 shares of the company’s stock valued at $32,898,000 after purchasing an additional 590,299 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on EWTX shares. Truist Financial raised their target price on Edgewise Therapeutics from $25.00 to $33.00 and gave the company a “buy” rating in a report on Thursday. Wedbush reaffirmed an “outperform” rating and set a $31.00 price target on shares of Edgewise Therapeutics in a research report on Friday, August 16th. Piper Sandler reaffirmed an “overweight” rating and set a $48.00 price target on shares of Edgewise Therapeutics in a research report on Monday, July 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $32.00 price target on shares of Edgewise Therapeutics in a research report on Tuesday. Finally, JPMorgan Chase & Co. increased their price target on Edgewise Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $35.00.

Edgewise Therapeutics Price Performance

NASDAQ:EWTX opened at $28.28 on Friday. The business has a fifty day simple moving average of $18.99 and a two-hundred day simple moving average of $18.12. Edgewise Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $30.00. The company has a market capitalization of $2.64 billion, a P/E ratio of -18.25 and a beta of 0.15.

Edgewise Therapeutics (NASDAQ:EWTX) last released its earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.02. As a group, analysts anticipate that Edgewise Therapeutics, Inc. will post -1.48 earnings per share for the current year.

Edgewise Therapeutics 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.