Siren L.L.C. Sells 99,727 Shares of Edgewise Therapeutics, Inc. $EWTX

Siren L.L.C. trimmed its position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,430,263 shares of the company’s stock after selling 99,727 shares during the period. Edgewise Therapeutics makes up approximately 3.9% of Siren L.L.C.’s holdings, making the stock its 4th largest holding. Siren L.L.C. owned approximately 4.12% of Edgewise Therapeutics worth $139,553,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Optimize Financial Inc grew its holdings in shares of Edgewise Therapeutics by 1.5% during the 4th quarter. Optimize Financial Inc now owns 27,679 shares of the company’s stock worth $687,000 after purchasing an additional 396 shares in the last quarter. Parallel Advisors LLC lifted its position in Edgewise Therapeutics by 64.9% in the first quarter. Parallel Advisors LLC now owns 1,032 shares of the company’s stock worth $33,000 after purchasing an additional 406 shares during the period. Steward Partners Investment Advisory LLC lifted its position in Edgewise Therapeutics by 23.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,854 shares of the company’s stock worth $71,000 after purchasing an additional 550 shares during the period. California State Teachers Retirement System boosted its stake in Edgewise Therapeutics by 2.4% during the second quarter. California State Teachers Retirement System now owns 36,878 shares of the company’s stock worth $483,000 after buying an additional 850 shares in the last quarter. Finally, AlphaCentric Advisors LLC boosted its stake in Edgewise Therapeutics by 6.2% during the first quarter. AlphaCentric Advisors LLC now owns 15,615 shares of the company’s stock worth $492,000 after buying an additional 912 shares in the last quarter.

Edgewise Therapeutics Trading Up 2.5%

NASDAQ EWTX opened at $39.29 on Friday. Edgewise Therapeutics, Inc. has a 12 month low of $12.30 and a 12 month high of $48.40. The company has a market capitalization of $4.23 billion, a PE ratio of -23.67 and a beta of 0.27. The stock has a 50-day simple moving average of $37.53 and a 200 day simple moving average of $32.88.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.04. As a group, sell-side analysts predict that Edgewise Therapeutics, Inc. will post -2.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Evercore restated an “outperform” rating and issued a $55.00 price objective on shares of Edgewise Therapeutics in a research note on Monday. The Goldman Sachs Group lifted their target price on shares of Edgewise Therapeutics from $20.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, June 17th. Oppenheimer assumed coverage on shares of Edgewise Therapeutics in a research note on Thursday, July 9th. They issued an “outperform” rating and a $51.00 target price on the stock. Truist Financial set a $52.00 price target on shares of Edgewise Therapeutics in a research note on Wednesday, May 6th. Finally, Leerink Partners set a $52.00 target price on shares of Edgewise Therapeutics in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.75.

Insider Transactions at Edgewise Therapeutics

In related news, CMO Joanne M. Donovan sold 50,000 shares of Edgewise Therapeutics stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $38.57, for a total value of $1,928,500.00. Following the sale, the chief marketing officer owned 4,367 shares of the company’s stock, valued at approximately $168,435.19. This trade represents a 91.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alan J. Russell sold 200,000 shares of Edgewise Therapeutics stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $39.41, for a total transaction of $7,882,000.00. Following the completion of the sale, the insider owned 24,555 shares in the company, valued at $967,712.55. This trade represents a 89.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 255,230 shares of company stock valued at $9,974,147. 21.30% of the stock is owned by corporate insiders.

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.