Edgewise Therapeutics, Inc. (NASDAQ:EWTX) is MPM Bioimpact LLC’s 3rd Largest Position

MPM Bioimpact LLC grew its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 17.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,079,316 shares of the company’s stock after buying an additional 162,150 shares during the quarter. Edgewise Therapeutics makes up about 4.1% of MPM Bioimpact LLC’s investment portfolio, making the stock its 3rd largest holding. MPM Bioimpact LLC owned approximately 1.14% of Edgewise Therapeutics worth $28,818,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of EWTX. Baker BROS. Advisors LP lifted its stake in shares of Edgewise Therapeutics by 5.4% in the 4th quarter. Baker BROS. Advisors LP now owns 6,155,940 shares of the company’s stock valued at $164,364,000 after purchasing an additional 315,881 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Edgewise Therapeutics by 9.3% in the 4th quarter. Janus Henderson Group PLC now owns 4,983,940 shares of the company’s stock valued at $133,044,000 after purchasing an additional 425,421 shares during the period. Paradigm Biocapital Advisors LP lifted its stake in shares of Edgewise Therapeutics by 61.1% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 4,493,929 shares of the company’s stock valued at $119,988,000 after purchasing an additional 1,704,757 shares during the period. Braidwell LP increased its position in Edgewise Therapeutics by 19.1% during the 4th quarter. Braidwell LP now owns 2,332,196 shares of the company’s stock valued at $62,270,000 after buying an additional 373,886 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C increased its position in Edgewise Therapeutics by 16.7% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 2,078,509 shares of the company’s stock valued at $55,496,000 after buying an additional 297,503 shares in the last quarter.

Edgewise Therapeutics Stock Performance

Edgewise Therapeutics stock opened at $14.89 on Wednesday. The firm has a market cap of $1.56 billion, a PE ratio of -9.93 and a beta of 0.36. Edgewise Therapeutics, Inc. has a twelve month low of $10.60 and a twelve month high of $38.12. The firm’s 50 day moving average price is $17.75 and its two-hundred day moving average price is $25.29.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.02. Equities analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Stifel Nicolaus initiated coverage on Edgewise Therapeutics in a research report on Wednesday, January 22nd. They set a “hold” rating and a $30.00 price objective for the company. Piper Sandler restated an “overweight” rating and issued a $51.00 price target on shares of Edgewise Therapeutics in a research note on Wednesday, April 2nd. Scotiabank downgraded Edgewise Therapeutics from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $50.00 to $14.00 in a research note on Wednesday, April 2nd. Wedbush restated an “outperform” rating and issued a $43.00 price target on shares of Edgewise Therapeutics in a research note on Monday, April 21st. Finally, Royal Bank of Canada dropped their price target on Edgewise Therapeutics from $56.00 to $52.00 and set an “outperform” rating on the stock in a research note on Thursday, April 3rd. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Edgewise Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $40.22.

Insider Buying and Selling at Edgewise Therapeutics

In other news, insider Alan J. Russell sold 1,551 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $16.45, for a total value of $25,513.95. Following the completion of the transaction, the insider now owns 18,521 shares in the company, valued at approximately $304,670.45. This represents a 7.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel John R. Moore sold 1,930 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $16.45, for a total transaction of $31,748.50. Following the completion of the transaction, the general counsel now owns 6,531 shares of the company’s stock, valued at approximately $107,434.95. This represents a 22.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,258 shares of company stock valued at $234,544 in the last ninety days. Company insiders own 24.11% of the company’s stock.

Edgewise Therapeutics Company 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.