Quantbot Technologies LP Purchases Shares of 3,855 Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Quantbot Technologies LP purchased a new stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 3,855 shares of the company’s stock, valued at approximately $103,000.

Other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC grew its position in Edgewise Therapeutics by 74.8% during the third quarter. Janus Henderson Group PLC now owns 4,558,519 shares of the company’s stock worth $121,616,000 after buying an additional 1,951,220 shares in the last quarter. State Street Corp increased its position in shares of Edgewise Therapeutics by 1.2% in the third quarter. State Street Corp now owns 1,685,115 shares of the company’s stock worth $44,976,000 after purchasing an additional 20,020 shares during the last quarter. Parkman Healthcare Partners LLC increased its position in shares of Edgewise Therapeutics by 14.4% in the third quarter. Parkman Healthcare Partners LLC now owns 657,070 shares of the company’s stock worth $17,537,000 after purchasing an additional 82,553 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Edgewise Therapeutics by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 537,359 shares of the company’s stock valued at $14,347,000 after purchasing an additional 15,273 shares in the last quarter. Finally, Amundi lifted its position in Edgewise Therapeutics by 127.2% during the fourth quarter. Amundi now owns 341,687 shares of the company’s stock valued at $8,686,000 after purchasing an additional 191,267 shares during the last quarter.

Edgewise Therapeutics Price Performance

Shares of NASDAQ EWTX opened at $22.00 on Tuesday. Edgewise Therapeutics, Inc. has a 1 year low of $14.90 and a 1 year high of $38.12. The stock has a market capitalization of $2.09 billion, a P/E ratio of -14.67 and a beta of 0.22. The company’s 50-day moving average is $26.18 and its 200 day moving average is $28.63.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Monday, March 3rd. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.03). Research analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

Insider Transactions at Edgewise Therapeutics

In other news, insider Alan J. Russell sold 1,200 shares of Edgewise Therapeutics stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $30.13, for a total value of $36,156.00. Following the completion of the transaction, the insider now owns 14,863 shares of the company’s stock, valued at $447,822.19. The trade was a 7.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin Koch sold 8,636 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $30.03, for a total transaction of $259,339.08. Following the sale, the chief executive officer now owns 14,478 shares of the company’s stock, valued at approximately $434,774.34. This represents a 37.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,836 shares of company stock valued at $986,245 in the last ninety days. 24.11% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on EWTX shares. Evercore ISI raised their price objective on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Stifel Nicolaus started coverage on Edgewise Therapeutics in a research report on Wednesday, January 22nd. They set a “hold” rating and a $30.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $56.00 price objective on shares of Edgewise Therapeutics in a report on Tuesday, March 4th. Finally, Scotiabank began coverage on Edgewise Therapeutics in a report on Friday, March 7th. They set a “sector outperform” rating and a $50.00 price objective on the stock. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $45.38.

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.