Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Shares Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. lifted its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 69.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,307 shares of the company’s stock after purchasing an additional 1,361 shares during the quarter. Meeder Asset Management Inc.’s holdings in Edgewise Therapeutics were worth $88,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in EWTX. RA Capital Management L.P. acquired a new stake in shares of Edgewise Therapeutics in the 1st quarter worth $162,502,000. Novo Holdings A S acquired a new stake in shares of Edgewise Therapeutics in the 2nd quarter worth $114,263,000. Baker BROS. Advisors LP boosted its position in shares of Edgewise Therapeutics by 87.6% in the 1st quarter. Baker BROS. Advisors LP now owns 5,840,059 shares of the company’s stock worth $106,523,000 after purchasing an additional 2,727,273 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Edgewise Therapeutics by 89.0% in the 1st quarter. Vanguard Group Inc. now owns 4,017,433 shares of the company’s stock worth $73,278,000 after purchasing an additional 1,892,053 shares in the last quarter. Finally, Artal Group S.A. acquired a new stake in shares of Edgewise Therapeutics in the 1st quarter worth $14,806,000.

Insider Buying and Selling

In related news, General Counsel John R. Moore sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $28.37, for a total value of $1,418,500.00. Following the transaction, the general counsel now directly owns 3,252 shares in the company, valued at approximately $92,259.24. This represents a 93.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO R Michael Carruthers sold 125,092 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $28.57, for a total value of $3,573,878.44. Following the completion of the transaction, the chief financial officer now owns 6,904 shares in the company, valued at $197,247.28. This represents a 94.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 278,176 shares of company stock worth $7,893,316. Insiders own 24.11% of the company’s stock.

Wall Street Analyst Weigh In

EWTX has been the subject of a number of research reports. 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, September 17th. Wedbush lifted their price target on Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Piper Sandler lifted their price objective on Edgewise Therapeutics from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Truist Financial lifted their price objective on Edgewise Therapeutics from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, JPMorgan Chase & Co. lifted their price objective on Edgewise Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $38.40.

Edgewise Therapeutics Trading Up 1.4 %

EWTX stock opened at $31.95 on Thursday. Edgewise Therapeutics, Inc. has a 12-month low of $5.93 and a 12-month high of $38.12. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of -21.30 and a beta of 0.14. The business’s 50-day moving average is $30.37 and its 200 day moving average is $22.62.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.01. As a group, equities analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal 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.