Victory Capital Management Inc. Makes New $576,000 Investment in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Victory Capital Management Inc. purchased a new position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 21,568 shares of the company’s stock, valued at approximately $576,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its position in Edgewise Therapeutics by 74.8% during the 3rd quarter. Janus Henderson Group PLC now owns 4,558,519 shares of the company’s stock worth $121,616,000 after acquiring an additional 1,951,220 shares during the period. Braidwell LP acquired 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 buying an additional 20,020 shares during the period. 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 buying an additional 82,553 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Edgewise Therapeutics by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 537,359 shares of the company’s stock valued at $14,347,000 after buying an additional 15,273 shares during the period.

Edgewise Therapeutics Trading Down 0.9 %

Shares of NASDAQ EWTX opened at $23.61 on Friday. The stock has a market cap of $2.25 billion, a P/E ratio of -15.74 and a beta of 0.22. Edgewise Therapeutics, Inc. has a 12-month low of $14.90 and a 12-month high of $38.12. The business’s fifty day simple moving average is $26.65 and its 200-day simple moving average is $28.25.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Monday, March 3rd. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.03). On average, equities analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Analyst Ratings Changes

EWTX has been the subject of several analyst reports. Truist Financial boosted their price objective on Edgewise Therapeutics from $33.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $56.00 price objective on shares of Edgewise Therapeutics in a report on Tuesday, March 4th. Evercore ISI boosted their price objective on Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Stifel Nicolaus began coverage on Edgewise Therapeutics in a report on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 price objective for the company. Finally, Scotiabank began coverage on Edgewise Therapeutics in a report on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 price target for the company. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.38.

Insider Activity at Edgewise Therapeutics

In related news, CMO Joanne M. Donovan sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $27.63, for a total transaction of $690,750.00. Following the transaction, the chief marketing officer now owns 16,358 shares of the company’s stock, valued at $451,971.54. This trade represents a 60.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Alan J. Russell sold 1,200 shares of the firm’s 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 transaction, the insider now directly owns 14,863 shares in the company, valued at approximately $447,822.19. This represents a 7.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 164,545 shares of company stock valued at $4,605,305 over the last quarter. 24.11% of the stock is owned by insiders.

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.