Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Shares Bought by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. boosted its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 64.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,035 shares of the company’s stock after buying an additional 7,062 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Edgewise Therapeutics were worth $481,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC grew its position in shares of Edgewise Therapeutics by 156.9% in the second quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock valued at $31,000 after purchasing an additional 1,064 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Edgewise Therapeutics in the second quarter valued at approximately $35,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Edgewise Therapeutics by 21.7% in the third 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 during the last quarter. Ameritas Investment Partners Inc. grew its position in shares of Edgewise Therapeutics by 37.3% in the first quarter. Ameritas Investment Partners Inc. now owns 5,751 shares of the company’s stock valued at $105,000 after purchasing an additional 1,561 shares during the last quarter. Finally, Arizona State Retirement System acquired a new stake in shares of Edgewise Therapeutics in the second quarter valued at approximately $188,000.

Insiders Place Their Bets

In other Edgewise Therapeutics news, General Counsel John R. Moore sold 20,922 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $27.63, for a total transaction of $578,074.86. Following the transaction, the general counsel now owns 3,252 shares of the company’s stock, valued at $89,852.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Alan J. Russell sold 75,000 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $28.27, for a total value of $2,120,250.00. Following the transaction, the insider now owns 12,719 shares of the company’s stock, valued at approximately $359,566.13. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel John R. Moore sold 20,922 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $27.63, for a total transaction of $578,074.86. Following the completion of the transaction, the general counsel now directly owns 3,252 shares in the company, valued at approximately $89,852.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 278,176 shares of company stock valued at $7,893,316 over the last quarter. Company insiders own 24.11% of the company’s stock.

Edgewise Therapeutics Stock Down 3.3 %

NASDAQ:EWTX opened at $33.32 on Thursday. The company has a market cap of $3.12 billion, a P/E ratio of -21.50 and a beta of 0.20. Edgewise Therapeutics, Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $36.66. The firm’s 50 day moving average is $25.72 and its two-hundred day moving average is $20.82.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.02. Research analysts forecast that Edgewise Therapeutics, Inc. will post -1.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on EWTX shares. JPMorgan Chase & Co. increased their price target on shares of Edgewise Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Wedbush reissued an “outperform” rating and set a $31.00 price objective on shares of Edgewise Therapeutics in a research note on Friday, August 16th. 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 research note on Friday, October 11th. Royal Bank of Canada reissued an “outperform” rating and set a $32.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. Finally, Truist Financial upped their price objective on shares of Edgewise Therapeutics from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $35.60.

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.