Graham Capital Management L.P. Acquires 2,516 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Graham Capital Management L.P. increased its holdings in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 15.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,415 shares of the company’s stock after buying an additional 2,516 shares during the quarter. Graham Capital Management L.P.’s holdings in Edgewise Therapeutics were worth $492,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Diadema Partners LP acquired a new position in Edgewise Therapeutics during the fourth quarter worth about $36,000. Aquatic Capital Management LLC bought a new stake in shares of Edgewise Therapeutics during the 4th quarter valued at approximately $77,000. Tower Research Capital LLC TRC increased its position in Edgewise Therapeutics by 1,097.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,676 shares of the company’s stock worth $98,000 after purchasing an additional 3,369 shares in the last quarter. Quantbot Technologies LP acquired a new position in Edgewise Therapeutics during the 4th quarter worth approximately $103,000. Finally, KLP Kapitalforvaltning AS bought a new position in Edgewise Therapeutics in the 4th quarter valued at approximately $182,000.

Edgewise Therapeutics Stock Down 0.7%

Shares of NASDAQ:EWTX opened at $14.45 on Friday. The firm has a market cap of $1.52 billion, a P/E ratio of -9.63 and a beta of 0.36. Edgewise Therapeutics, Inc. has a 12-month low of $10.60 and a 12-month high of $38.12. The business has a fifty day simple moving average of $17.22 and a 200 day simple moving average of $25.08.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.02. As a group, equities research analysts expect that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Insider Buying and Selling at Edgewise Therapeutics

In related news, insider Alan J. Russell sold 1,551 shares of Edgewise Therapeutics stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $16.45, for a total transaction of $25,513.95. Following the completion of the transaction, the insider now owns 18,521 shares of the company’s stock, valued at $304,670.45. This trade represents a 7.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Joanne M. Donovan sold 5,187 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $16.45, for a total transaction of $85,326.15. Following the completion of the transaction, the chief marketing officer now owns 21,588 shares in the company, valued at approximately $355,122.60. The trade was a 19.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,258 shares of company stock valued at $234,544. 23.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.