Quest Partners LLC Grows Position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Quest Partners LLC boosted its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 418.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 9,035 shares of the company’s stock after purchasing an additional 7,293 shares during the period. Quest Partners LLC’s holdings in Edgewise Therapeutics were worth $241,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Edgewise Therapeutics by 89.0% in the first quarter. Vanguard Group Inc. now owns 4,017,433 shares of the company’s stock worth $73,278,000 after buying an additional 1,892,053 shares during the last quarter. American International Group Inc. raised its position in Edgewise Therapeutics by 33.6% in the 1st quarter. American International Group Inc. now owns 28,418 shares of the company’s stock worth $518,000 after purchasing an additional 7,151 shares during the period. Janus Henderson Group PLC lifted its stake in Edgewise Therapeutics by 48.6% in the first quarter. Janus Henderson Group PLC now owns 1,805,312 shares of the company’s stock worth $32,898,000 after purchasing an additional 590,299 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Edgewise Therapeutics by 23.1% during the first quarter. California State Teachers Retirement System now owns 36,467 shares of the company’s stock valued at $665,000 after buying an additional 6,847 shares during the period. Finally, Artal Group S.A. bought a new position in Edgewise Therapeutics in the 1st quarter valued at $14,806,000.

Edgewise Therapeutics Stock Up 0.3 %

Shares of Edgewise Therapeutics stock opened at $32.08 on Wednesday. Edgewise Therapeutics, Inc. has a 52-week low of $5.93 and a 52-week high of $38.12. The firm’s 50 day moving average price is $31.23 and its 200-day moving average price is $22.88. The company has a market cap of $3.04 billion, a P/E ratio of -21.39 and a beta of 0.14.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.01. As a group, equities research analysts forecast that Edgewise Therapeutics, Inc. will post -1.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EWTX. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $32.00 price target on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. Wedbush lifted their price target on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Evercore ISI initiated coverage on Edgewise Therapeutics in a research report on Friday, November 22nd. They set an “outperform” rating and a $45.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on Edgewise Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Finally, Truist Financial increased their target price on shares of Edgewise Therapeutics from $25.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $39.50.

Insiders Place Their Bets

In other Edgewise Therapeutics news, insider Alan J. Russell sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $28.27, for a total transaction of $2,120,250.00. Following the sale, the insider now owns 12,719 shares of the company’s stock, valued at approximately $359,566.13. The trade was a 85.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO R Michael Carruthers sold 125,092 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $28.57, for a total transaction of $3,573,878.44. Following the transaction, the chief financial officer now owns 6,904 shares in the company, valued at $197,247.28. The trade was a 94.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 278,176 shares of company stock valued at $7,893,316. 24.11% of the stock is currently owned by corporate 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.