Intech Investment Management LLC Sells 2,143 Shares of Edgewise Therapeutics, Inc. $EWTX

Intech Investment Management LLC cut its stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 4.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,065 shares of the company’s stock after selling 2,143 shares during the quarter. Intech Investment Management LLC’s holdings in Edgewise Therapeutics were worth $578,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of EWTX. Aberdeen Group plc increased its stake in shares of Edgewise Therapeutics by 75.8% during the first quarter. Aberdeen Group plc now owns 313,025 shares of the company’s stock worth $6,887,000 after purchasing an additional 134,982 shares during the period. Eventide Asset Management LLC bought a new position in Edgewise Therapeutics during the 1st quarter worth $12,503,000. Deutsche Bank AG lifted its holdings in shares of Edgewise Therapeutics by 36.3% during the first quarter. Deutsche Bank AG now owns 376,060 shares of the company’s stock worth $8,273,000 after buying an additional 100,223 shares in the last quarter. MPM Bioimpact LLC boosted its position in shares of Edgewise Therapeutics by 2.4% in the first quarter. MPM Bioimpact LLC now owns 1,105,444 shares of the company’s stock valued at $24,320,000 after acquiring an additional 26,128 shares during the period. Finally, EFG Asset Management North America Corp. grew its stake in shares of Edgewise Therapeutics by 152.5% in the first quarter. EFG Asset Management North America Corp. now owns 104,386 shares of the company’s stock valued at $2,297,000 after acquiring an additional 63,048 shares in the last quarter.

Insider Activity

In other Edgewise Therapeutics news, Director Jonathan C. Fox bought 10,700 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were purchased at an average price of $18.64 per share, for a total transaction of $199,448.00. Following the completion of the transaction, the director directly owned 23,702 shares in the company, valued at approximately $441,805.28. The trade was a 82.30% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Alan J. Russell sold 100,000 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $21.12, for a total transaction of $2,112,000.00. Following the completion of the transaction, the insider directly owned 23,400 shares of the company’s stock, valued at $494,208. This trade represents a 81.04% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 23.20% of the company’s stock.

Edgewise Therapeutics Price Performance

Shares of EWTX opened at $25.52 on Friday. The firm has a 50 day simple moving average of $17.71 and a two-hundred day simple moving average of $15.42. Edgewise Therapeutics, Inc. has a one year low of $10.60 and a one year high of $35.50. The company has a market cap of $2.70 billion, a P/E ratio of -16.15 and a beta of 0.30.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Thursday, November 6th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. On average, analysts expect that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Wall Street Zen upgraded shares of Edgewise Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. The Goldman Sachs Group began coverage on shares of Edgewise Therapeutics in a research report on Thursday, September 25th. They issued a “neutral” rating and a $20.00 price target for the company. Wedbush cut their price target on Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, November 7th. Royal Bank Of Canada increased their price target on Edgewise Therapeutics from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Finally, JPMorgan Chase & Co. lifted their price objective on Edgewise Therapeutics from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.27.

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.