State of Wyoming Invests $525,000 in Edgewise Therapeutics, Inc. $EWTX

State of Wyoming bought a new position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 12,913 shares of the company’s stock, valued at approximately $525,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Orbimed Advisors LLC increased its position in shares of Edgewise Therapeutics by 3.3% in the second quarter. Orbimed Advisors LLC now owns 15,518,492 shares of the company’s stock valued at $203,447,000 after acquiring an additional 496,771 shares during the period. RA Capital Management L.P. boosted its holdings in shares of Edgewise Therapeutics by 5.3% during the third quarter. RA Capital Management L.P. now owns 10,428,437 shares of the company’s stock worth $169,149,000 after purchasing an additional 525,804 shares during the period. Paradigm Biocapital Advisors LP grew its stake in shares of Edgewise Therapeutics by 6.0% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 6,541,210 shares of the company’s stock worth $162,320,000 after purchasing an additional 371,079 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Edgewise Therapeutics by 29.5% in the first quarter. Janus Henderson Group PLC now owns 5,915,556 shares of the company’s stock worth $186,289,000 after purchasing an additional 1,348,706 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Edgewise Therapeutics by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 4,871,624 shares of the company’s stock valued at $120,889,000 after purchasing an additional 67,683 shares during the period.

Analysts Set New Price Targets

EWTX has been the subject of a number of recent analyst reports. Leerink Partners set a $52.00 price target on Edgewise Therapeutics in a research report on Tuesday, June 16th. The Goldman Sachs Group lifted their price objective on Edgewise Therapeutics from $32.00 to $36.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Evercore reissued an “outperform” rating and set a $55.00 target price on shares of Edgewise Therapeutics in a research note on Monday, July 20th. Oppenheimer initiated coverage on shares of Edgewise Therapeutics in a research report on Thursday, July 9th. They set an “outperform” rating and a $51.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, eight 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, Edgewise Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $49.08.

Edgewise Therapeutics Trading Down 0.3%

Edgewise Therapeutics stock opened at $44.04 on Tuesday. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of -23.81 and a beta of 0.30. The business’s fifty day simple moving average is $40.30 and its two-hundred day simple moving average is $34.77. Edgewise Therapeutics, Inc. has a 12 month low of $13.52 and a 12 month high of $48.40.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.06). On average, equities research analysts predict that Edgewise Therapeutics, Inc. will post -2.09 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Kevin Koch sold 17,971 shares of Edgewise Therapeutics stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $43.68, for a total value of $784,973.28. Following the completion of the sale, the chief executive officer directly owned 52,488 shares in the company, valued at approximately $2,292,675.84. This trade represents a 25.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alan J. Russell sold 5,901 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $43.73, for a total transaction of $258,050.73. Following the sale, the insider directly owned 31,466 shares in the company, valued at approximately $1,376,008.18. The trade was a 15.79% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 238,329 shares of company stock valued at $9,557,529. 21.30% of the stock is currently owned by corporate insiders.

About Edgewise Therapeutics

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.