Charles Schwab Investment Management Inc. Acquires 15,273 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Charles Schwab Investment Management Inc. lifted its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 2.9% in the fourth quarter, Holdings Channel reports. The fund owned 537,359 shares of the company’s stock after purchasing an additional 15,273 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Edgewise Therapeutics were worth $14,347,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Janus Henderson Group PLC lifted its holdings in shares of Edgewise Therapeutics by 74.8% in the 3rd quarter. Janus Henderson Group PLC now owns 4,558,519 shares of the company’s stock valued at $121,616,000 after acquiring an additional 1,951,220 shares during the last quarter. Braidwell LP bought a new position in shares of Edgewise Therapeutics in the 3rd quarter valued at about $52,267,000. State Street Corp lifted its holdings in shares of Edgewise Therapeutics by 1.2% in the 3rd quarter. State Street Corp now owns 1,685,115 shares of the company’s stock valued at $44,976,000 after acquiring an additional 20,020 shares during the last quarter. Parkman Healthcare Partners LLC lifted its holdings in shares of Edgewise Therapeutics by 14.4% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 657,070 shares of the company’s stock valued at $17,537,000 after acquiring an additional 82,553 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Edgewise Therapeutics in the 3rd quarter valued at about $6,466,000.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Truist Financial increased their price target on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Scotiabank started coverage on shares of Edgewise Therapeutics in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $56.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday, March 4th. Evercore ISI raised their price objective on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Finally, Stifel Nicolaus started coverage on shares of Edgewise Therapeutics in a research note on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 price objective for the company. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $45.38.

Edgewise Therapeutics Stock Performance

Shares of NASDAQ:EWTX opened at $23.82 on Friday. The firm has a market cap of $2.27 billion, a PE ratio of -15.88 and a beta of 0.22. The firm’s 50 day simple moving average is $26.66 and its 200-day simple moving average is $28.22. Edgewise Therapeutics, Inc. has a one year low of $14.90 and a one year high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Monday, March 3rd. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.03). Equities research analysts predict that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Insider Transactions at Edgewise Therapeutics

In other news, CEO Kevin Koch sold 8,636 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $30.03, for a total transaction of $259,339.08. Following the transaction, the chief executive officer now directly owns 14,478 shares of the company’s stock, valued at approximately $434,774.34. This trade represents a 37.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alan J. Russell sold 100,000 shares of Edgewise Therapeutics stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $27.37, for a total transaction of $2,737,000.00. Following the transaction, the insider now directly owns 14,863 shares in the company, valued at approximately $406,800.31. The trade was a 87.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 164,545 shares of company stock valued at $4,605,305. 24.11% of the stock is currently owned by company insiders.

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.