Edgewise Therapeutics, Inc. $EWTX Shares Purchased by Profund Advisors LLC

Profund Advisors LLC grew its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 301.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,798 shares of the company’s stock after buying an additional 27,634 shares during the quarter. Profund Advisors LLC’s holdings in Edgewise Therapeutics were worth $1,494,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC boosted its position in shares of Edgewise Therapeutics by 64.9% during the 1st quarter. Parallel Advisors LLC now owns 1,032 shares of the company’s stock worth $33,000 after acquiring an additional 406 shares in the last quarter. KBC Group NV bought a new stake in Edgewise Therapeutics during the first quarter worth $49,000. Sterling Capital Management LLC lifted its stake in Edgewise Therapeutics by 840.2% during the third quarter. Sterling Capital Management LLC now owns 2,360 shares of the company’s stock worth $96,000 after purchasing an additional 2,109 shares during the last quarter. GAMMA Investing LLC lifted its stake in Edgewise Therapeutics by 26.5% during the third quarter. GAMMA Investing LLC now owns 2,666 shares of the company’s stock worth $108,000 after purchasing an additional 559 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Edgewise Therapeutics in the 1st quarter valued at $217,000.

Insider Transactions at Edgewise Therapeutics

In related news, CMO Joanne M. Donovan sold 6,522 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $43.85, for a total transaction of $285,989.70. Following the sale, the chief marketing officer owned 11,544 shares in the company, valued at $506,204.40. The trade was a 36.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Kevin Koch sold 17,971 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $43.68, for a total value of $784,973.28. Following the sale, the chief executive officer owned 52,488 shares in the company, valued at $2,292,675.84. This represents a 25.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 38,329 shares of company stock valued at $1,675,529 over the last quarter. 21.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EWTX. The Goldman Sachs Group lifted their price target on Edgewise Therapeutics from $32.00 to $36.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. HC Wainwright reissued a “buy” rating on shares of Edgewise Therapeutics in a report on Wednesday, October 14th. JPMorgan Chase & Co. upped their price objective on Edgewise Therapeutics from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. Wall Street Zen raised Edgewise Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, October 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Edgewise Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $51.33.

Edgewise Therapeutics Price Performance

Shares of NASDAQ:EWTX opened at $38.11 on Tuesday. The company has a market cap of $4.14 billion, a price-to-earnings ratio of -20.60 and a beta of 0.35. The firm has a 50 day simple moving average of $41.22 and a 200 day simple moving average of $36.30. Edgewise Therapeutics, Inc. has a one year low of $16.70 and a one year high of $48.51.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results 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). As a group, analysts expect that Edgewise Therapeutics, Inc. will post -2.09 EPS for the current year.

Edgewise Therapeutics Profile

Edgewise Therapeutics, Inc is a clinical-stage biotechnology company focused on developing small-molecule therapies for severe muscle disorders. The company’s research programs target the biology of skeletal and cardiac muscle, with the goal of addressing diseases for which treatment options remain limited.

Edgewise’s lead product candidate is sevasemten (formerly EDG-5506), an oral therapy designed to reduce contraction-induced muscle damage associated with dystrophinopathies, including Duchenne and Becker muscular dystrophy.