Arizona State Retirement System Takes Position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Arizona State Retirement System bought a new position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) during the second quarter, Holdings Channel reports. The firm bought 10,459 shares of the company’s stock, valued at approximately $188,000.

Other hedge funds also recently made changes to their positions in the company. Rhumbline Advisers grew its holdings in Edgewise Therapeutics by 16.7% during the 2nd quarter. Rhumbline Advisers now owns 98,269 shares of the company’s stock valued at $1,770,000 after buying an additional 14,041 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Edgewise Therapeutics by 26.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 268,712 shares of the company’s stock valued at $4,840,000 after acquiring an additional 56,447 shares during the last quarter. SG Americas Securities LLC raised its stake in Edgewise Therapeutics by 657.9% during the second quarter. SG Americas Securities LLC now owns 64,173 shares of the company’s stock valued at $1,156,000 after purchasing an additional 55,706 shares in the last quarter. Simplicity Wealth LLC bought a new position in Edgewise Therapeutics during the second quarter valued at $274,000. Finally, RA Capital Management L.P. purchased a new position in shares of Edgewise Therapeutics in the 1st quarter worth $162,502,000.

Edgewise Therapeutics Stock Performance

Shares of NASDAQ EWTX opened at $19.07 on Thursday. Edgewise Therapeutics, Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $23.50. The company has a market cap of $1.78 billion, a price-to-earnings ratio of -12.30 and a beta of 0.15. The business’s 50 day moving average price is $18.73 and its 200-day moving average price is $17.96.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.02. Sell-side analysts predict that Edgewise Therapeutics, Inc. will post -1.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on EWTX shares. Royal Bank of Canada restated an “outperform” rating and set a $32.00 target price on shares of Edgewise Therapeutics in a research report on Tuesday. Wedbush reaffirmed an “outperform” rating and issued a $31.00 price objective on shares of Edgewise Therapeutics in a research note on Friday, August 16th. Piper Sandler reiterated an “overweight” rating and issued a $48.00 target price on shares of Edgewise Therapeutics in a report on Monday, July 1st. Finally, JPMorgan Chase & Co. increased their price target on Edgewise Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $33.40.

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.