State of New Jersey Common Pension Fund D Purchases Shares of 13,738 Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

State of New Jersey Common Pension Fund D acquired a new position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 13,738 shares of the company’s stock, valued at approximately $247,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quest Partners LLC raised its holdings in Edgewise Therapeutics by 156.9% in the second quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock valued at $31,000 after buying an additional 1,064 shares during the period. Ameritas Investment Partners Inc. raised its stake in shares of Edgewise Therapeutics by 37.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 5,751 shares of the company’s stock valued at $105,000 after acquiring an additional 1,561 shares during the period. Arizona State Retirement System acquired a new position in shares of Edgewise Therapeutics during the 2nd quarter valued at $188,000. Entropy Technologies LP purchased a new stake in Edgewise Therapeutics during the 1st quarter worth $231,000. Finally, Virtu Financial LLC acquired a new stake in Edgewise Therapeutics in the 4th quarter valued at $263,000.

Analysts Set New Price Targets

EWTX has been the topic of a number of recent research reports. Wedbush restated an “outperform” rating and set a $31.00 price objective on shares of Edgewise Therapeutics in a research note on Friday, August 16th. JPMorgan Chase & Co. upped their price target on Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Truist Financial lifted their price objective on shares of Edgewise Therapeutics from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Piper Sandler restated an “overweight” rating and issued a $48.00 target price on shares of Edgewise Therapeutics in a research note on Monday, July 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $32.00 price target on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Edgewise Therapeutics currently has an average rating of “Buy” and an average price target of $35.00.

Insider Activity

In related news, insider Alan J. Russell sold 75,000 shares of Edgewise Therapeutics stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $28.27, for a total value of $2,120,250.00. Following the completion of the transaction, the insider now directly owns 12,719 shares in the company, valued at $359,566.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Alan J. Russell sold 75,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $28.27, for a total transaction of $2,120,250.00. Following the transaction, the insider now directly owns 12,719 shares in the company, valued at $359,566.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO R Michael Carruthers sold 125,092 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $28.57, for a total transaction of $3,573,878.44. Following the sale, the chief financial officer now owns 6,904 shares of the company’s stock, valued at approximately $197,247.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 278,176 shares of company stock worth $7,893,316. 24.11% of the stock is currently owned by corporate insiders.

Edgewise Therapeutics Stock Down 0.2 %

Shares of EWTX opened at $25.87 on Thursday. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of -16.69 and a beta of 0.15. The business’s 50 day moving average is $19.22 and its two-hundred day moving average is $18.31. Edgewise Therapeutics, Inc. has a 52-week low of $5.12 and a 52-week high of $30.00.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.02. On average, equities analysts expect that Edgewise Therapeutics, Inc. will post -1.47 earnings per share 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.