China Universal Asset Management Co. Ltd. Boosts Stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

China Universal Asset Management Co. Ltd. raised its holdings in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 11.3% in the 4th quarter, Holdings Channel reports. The firm owned 20,077 shares of the company’s stock after purchasing an additional 2,042 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Edgewise Therapeutics were worth $536,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its position in Edgewise Therapeutics by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company’s stock valued at $88,000 after purchasing an additional 604 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in Edgewise Therapeutics by 69.9% in the third quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company’s stock worth $88,000 after acquiring an additional 1,361 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new stake in Edgewise Therapeutics in the 3rd quarter worth approximately $161,000. US Bancorp DE lifted its stake in shares of Edgewise Therapeutics by 12,452.9% during the third quarter. US Bancorp DE now owns 8,536 shares of the company’s stock worth $228,000 after buying an additional 8,468 shares during the period. Finally, Quest Partners LLC grew its stake in Edgewise Therapeutics by 418.7% during the 3rd quarter. Quest Partners LLC now owns 9,035 shares of the company’s stock valued at $241,000 after purchasing an additional 7,293 shares during the last quarter.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Piper Sandler upped their price objective on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Wedbush raised their price objective on Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Stifel Nicolaus assumed 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. Evercore ISI boosted their price target on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Finally, Truist Financial increased their price objective 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. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.29.

Edgewise Therapeutics Stock Up 0.1 %

NASDAQ:EWTX opened at $28.02 on Monday. The stock’s fifty day moving average is $28.82 and its two-hundred day moving average is $26.47. Edgewise Therapeutics, Inc. has a 52 week low of $14.90 and a 52 week high of $38.12. The company has a market capitalization of $2.65 billion, a P/E ratio of -18.68 and a beta of 0.20.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.01. Sell-side analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Marc Semigran sold 29,709 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $29.69, for a total value of $882,060.21. Following the transaction, the insider now owns 6,716 shares of the company’s stock, valued at $199,398.04. This represents a 81.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Alan J. Russell sold 100,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $27.37, for a total value of $2,737,000.00. Following the completion of the transaction, the insider now owns 14,863 shares in the company, valued at approximately $406,800.31. The trade was a 87.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 154,709 shares of company stock valued at $4,309,810. 24.11% of the stock is currently owned by company insiders.

About Edgewise Therapeutics

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.