Ensign Peak Advisors Inc Acquires New Stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Ensign Peak Advisors Inc acquired a new stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 80,509 shares of the company’s stock, valued at approximately $2,150,000. Ensign Peak Advisors Inc owned 0.09% of Edgewise Therapeutics at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in EWTX. Diadema Partners LP bought a new stake in Edgewise Therapeutics during the fourth quarter worth approximately $36,000. Aquatic Capital Management LLC acquired a new position in Edgewise Therapeutics in the 4th quarter worth approximately $77,000. Tower Research Capital LLC TRC boosted its stake in Edgewise Therapeutics by 1,097.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,676 shares of the company’s stock worth $98,000 after purchasing an additional 3,369 shares during the period. Quantbot Technologies LP acquired a new position in Edgewise Therapeutics in the 4th quarter worth approximately $103,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Edgewise Therapeutics in the 4th quarter worth approximately $182,000.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $51.00 price objective on shares of Edgewise Therapeutics in a research note on Wednesday, April 2nd. Wedbush reissued an “outperform” rating and set a $43.00 target price on shares of Edgewise Therapeutics in a research note on Monday, April 21st. Stifel Nicolaus initiated coverage on shares of Edgewise Therapeutics in a research note on Wednesday, January 22nd. They set a “hold” rating and a $30.00 target price for the company. Guggenheim initiated coverage on shares of Edgewise Therapeutics in a research note on Wednesday, April 30th. They set a “buy” rating and a $41.00 target price for the company. Finally, Royal Bank of Canada decreased their target price on shares of Edgewise Therapeutics from $56.00 to $52.00 and set an “outperform” rating for the company in a research note on Thursday, April 3rd. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Edgewise Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $40.22.

Insider Activity

In other Edgewise Therapeutics news, Director Orbimed Advisors Llc bought 496,771 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The shares were acquired at an average cost of $20.13 per share, for a total transaction of $10,000,000.23. Following the transaction, the director now owns 14,809,075 shares in the company, valued at approximately $298,106,679.75. The trade was a 3.47% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Alan J. Russell sold 1,551 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $16.45, for a total transaction of $25,513.95. Following the completion of the transaction, the insider now owns 18,521 shares in the company, valued at approximately $304,670.45. This trade represents a 7.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,258 shares of company stock worth $234,544. Corporate insiders own 23.20% of the company’s stock.

Edgewise Therapeutics Stock Performance

NASDAQ:EWTX opened at $14.45 on Friday. The firm’s 50-day moving average is $17.22 and its 200-day moving average is $25.08. Edgewise Therapeutics, Inc. has a 52-week low of $10.60 and a 52-week high of $38.12. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -9.63 and a beta of 0.36.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.02. Equities analysts predict 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.