GSA Capital Partners LLP Buys Shares of 44,466 Edgewise Therapeutics, Inc. $EWTX

GSA Capital Partners LLP purchased a new position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) during the second quarter, HoldingsChannel.com reports. The fund purchased 44,466 shares of the company’s stock, valued at approximately $1,807,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC raised its stake in Edgewise Therapeutics by 29.5% during the first quarter. Janus Henderson Group PLC now owns 5,915,556 shares of the company’s stock worth $186,289,000 after acquiring an additional 1,348,706 shares during the period. UBS Group AG boosted its stake in Edgewise Therapeutics by 1,755.0% in the fourth quarter. UBS Group AG now owns 2,117,073 shares of the company’s stock valued at $52,535,000 after acquiring an additional 2,002,945 shares during the period. California State Teachers Retirement System grew its holdings in shares of Edgewise Therapeutics by 45.7% during the first quarter. California State Teachers Retirement System now owns 73,419 shares of the company’s stock valued at $2,313,000 after purchasing an additional 23,027 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of Edgewise Therapeutics by 104.8% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 271,385 shares of the company’s stock valued at $6,734,000 after purchasing an additional 138,882 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of Edgewise Therapeutics during the 4th quarter worth approximately $446,000.

Insiders Place Their Bets

In related news, insider Alan J. Russell sold 200,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $39.41, for a total value of $7,882,000.00. Following the completion of the sale, the insider owned 24,555 shares of the company’s stock, valued at $967,712.55. This represents a 89.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel John R. Moore sold 5,016 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $43.82, for a total transaction of $219,801.12. Following the completion of the transaction, the general counsel owned 17,697 shares of the company’s stock, valued at $775,482.54. This represents a 22.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 238,329 shares of company stock worth $9,557,529. 21.30% of the stock is owned by company insiders.

Edgewise Therapeutics Price Performance

Shares of EWTX stock opened at $44.17 on Monday. Edgewise Therapeutics, Inc. has a 12-month low of $13.52 and a 12-month high of $48.40. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of -23.88 and a beta of 0.30. The business has a 50 day simple moving average of $40.12 and a 200 day simple moving average of $34.66.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, August 6th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.06). On average, equities analysts anticipate that Edgewise Therapeutics, Inc. will post -2.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

EWTX has been the topic of several recent research reports. Raymond James Financial reissued a “strong-buy” rating and issued a $66.00 price target on shares of Edgewise Therapeutics in a report on Monday, June 1st. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 target price on shares of Edgewise Therapeutics in a research report on Tuesday, June 16th. Leerink Partners set a $52.00 target price on Edgewise Therapeutics in a research report on Tuesday, June 16th. Oppenheimer assumed coverage on Edgewise Therapeutics in a research note on Thursday, July 9th. They issued an “outperform” rating and a $51.00 target price on the stock. Finally, Truist Financial set a $52.00 price target on shares of Edgewise Therapeutics in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Edgewise Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $49.08.

Trending Headlines about Edgewise Therapeutics

Here are the key news stories impacting Edgewise Therapeutics this week:

• Neutral Sentiment: The sales were made to cover tax-withholding obligations associated with the vesting of equity awards, rather than representing stated concerns about the company’s outlook. Insiders continued to hold shares after the transactions, which reduces the negative significance of the filings. CEO SEC filing General counsel SEC filing Insider SEC filing CMO SEC filing
• Negative Sentiment: The number of transactions and the reductions in individual holdings—ranging from roughly 16% to 36%—could create modest sentiment pressure because multiple executives sold shares while EWTX was trading at elevated levels. However, the tax-related purpose makes these filings a limited signal of insider sentiment.

About Edgewise Therapeutics

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.