30,000 Shares in Edgewise Therapeutics, Inc. $EWTX Acquired by Elmind Capital LP

Elmind Capital LP purchased a new position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 30,000 shares of the company’s stock, valued at approximately $744,000.

A number of other hedge funds also recently modified their holdings of EWTX. Morgan Stanley raised its holdings in shares of Edgewise Therapeutics by 234.7% in the 4th quarter. Morgan Stanley now owns 2,910,881 shares of the company’s stock worth $72,234,000 after purchasing an additional 2,041,203 shares during the period. UBS Group AG raised its holdings in shares of Edgewise Therapeutics by 1,755.0% in the 4th quarter. UBS Group AG now owns 2,117,073 shares of the company’s stock worth $52,535,000 after purchasing an additional 2,002,945 shares during the period. Norges Bank bought a new stake in shares of Edgewise Therapeutics in the 4th quarter worth approximately $18,645,000. Sofinnova Investments Inc. raised its holdings in shares of Edgewise Therapeutics by 3,185.7% in the 2nd quarter. Sofinnova Investments Inc. now owns 716,873 shares of the company’s stock worth $9,398,000 after purchasing an additional 695,055 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Edgewise Therapeutics in the 4th quarter worth approximately $16,925,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on EWTX shares. Truist Financial set a $52.00 price target on shares of Edgewise Therapeutics in a report on Wednesday, May 6th. HC Wainwright reissued a “buy” rating and set a $45.00 target price on shares of Edgewise Therapeutics in a report on Tuesday. Raymond James Financial reissued a “strong-buy” rating and set a $66.00 target price on shares of Edgewise Therapeutics in a report on Monday, June 1st. Evercore reissued an “outperform” rating and set a $45.00 target price on shares of Edgewise Therapeutics in a report on Thursday, February 26th. Finally, Wall Street Zen cut shares of Edgewise Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.30.

Insider Buying and Selling at Edgewise Therapeutics

In other news, CMO Joanne M. Donovan sold 50,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $38.57, for a total value of $1,928,500.00. Following the transaction, the chief marketing officer owned 4,367 shares of the company’s stock, valued at approximately $168,435.19. This represents a 91.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 83,892 shares of company stock valued at $3,018,216 over the last quarter. Corporate insiders own 21.30% of the company’s stock.

Edgewise Therapeutics Price Performance

Shares of EWTX stock opened at $34.82 on Thursday. The company’s fifty day simple moving average is $33.79 and its two-hundred day simple moving average is $29.86. Edgewise Therapeutics, Inc. has a 1 year low of $12.15 and a 1 year high of $40.76. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of -20.98 and a beta of 0.27.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Thursday, May 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.04. Equities research analysts anticipate that Edgewise Therapeutics, Inc. will post -2.01 EPS for the current year.

Edgewise Therapeutics Company Profile

Edgewise Therapeutics, Inc (NASDAQ: EWTX) is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the discovery and development of precision medicines for the treatment of rare diseases. The company leverages its expertise in small-molecule chemistry and ion channel biology to address severe, unmet medical needs, particularly in the areas of kidney disorders and neuromuscular diseases.

At the core of Edgewise’s pipeline is EWTX-101, a novel, orally available inhibitor of TRPC5, a calcium channel implicated in nephrotic syndromes such as focal segmental glomerulosclerosis (FSGS) and other proteinuric kidney diseases.