Braidwell LP Raises Position in Edgewise Therapeutics, Inc. $EWTX

Braidwell LP raised its holdings in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 111.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,210,831 shares of the company’s stock after buying an additional 2,752,023 shares during the quarter. Edgewise Therapeutics comprises about 2.3% of Braidwell LP’s holdings, making the stock its 16th largest position. Braidwell LP owned 4.95% of Edgewise Therapeutics worth $68,314,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Bellevue Group AG boosted its position in shares of Edgewise Therapeutics by 94.3% during the 2nd quarter. Bellevue Group AG now owns 2,775,997 shares of the company’s stock valued at $36,393,000 after acquiring an additional 1,347,068 shares during the last quarter. First Light Asset Management LLC lifted its position in Edgewise Therapeutics by 137.3% during the first quarter. First Light Asset Management LLC now owns 1,852,290 shares of the company’s stock valued at $40,750,000 after purchasing an additional 1,071,651 shares during the last quarter. Siren L.L.C. grew its stake in Edgewise Therapeutics by 131.0% in the 1st quarter. Siren L.L.C. now owns 1,696,444 shares of the company’s stock worth $37,322,000 after buying an additional 962,101 shares in the last quarter. Cormorant Asset Management LP grew its stake in Edgewise Therapeutics by 20.4% in the 1st quarter. Cormorant Asset Management LP now owns 4,101,992 shares of the company’s stock worth $90,244,000 after buying an additional 695,458 shares in the last quarter. Finally, MPM Bioimpact LLC increased its holdings in shares of Edgewise Therapeutics by 55.7% in the 2nd quarter. MPM Bioimpact LLC now owns 1,720,741 shares of the company’s stock worth $22,559,000 after buying an additional 615,297 shares during the last quarter.

Insider Buying and Selling at Edgewise Therapeutics

In other news, Director Jonathan C. Fox purchased 10,700 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were acquired at an average price of $18.64 per share, with a total value of $199,448.00. Following the acquisition, the director directly owned 23,702 shares in the company, valued at approximately $441,805.28. The trade was a 82.30% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alan J. Russell sold 100,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $21.12, for a total transaction of $2,112,000.00. Following the transaction, the insider directly owned 23,400 shares of the company’s stock, valued at approximately $494,208. This trade represents a 81.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 23.20% of the company’s stock.

Edgewise Therapeutics Price Performance

Shares of Edgewise Therapeutics stock opened at $23.62 on Friday. Edgewise Therapeutics, Inc. has a one year low of $10.60 and a one year high of $35.50. The business’s 50 day simple moving average is $19.56 and its two-hundred day simple moving average is $16.13. The stock has a market capitalization of $2.50 billion, a P/E ratio of -14.95 and a beta of 0.26.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. Sell-side analysts expect that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EWTX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Wednesday, October 8th. Wedbush cut their price objective on Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, November 7th. Royal Bank Of Canada raised their price objective on Edgewise Therapeutics from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, November 7th. The Goldman Sachs Group assumed coverage on Edgewise Therapeutics in a research note on Thursday, September 25th. They issued a “neutral” rating and a $20.00 target price for the company. Finally, Wall Street Zen raised shares of Edgewise Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.27.

Edgewise Therapeutics Profile

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.