Quantbot Technologies LP Takes $544,000 Position in Edgewise Therapeutics, Inc. $EWTX

Quantbot Technologies LP purchased a new position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 41,463 shares of the company’s stock, valued at approximately $544,000.

A number of other hedge funds and other institutional investors have also modified their holdings of EWTX. First Light Asset Management LLC lifted its position in Edgewise Therapeutics by 137.3% in 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 acquiring an additional 1,071,651 shares during the last quarter. Siren L.L.C. increased 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 valued at $37,322,000 after buying an additional 962,101 shares during the period. Cormorant Asset Management LP lifted its position in Edgewise Therapeutics by 20.4% in the first quarter. Cormorant Asset Management LP now owns 4,101,992 shares of the company’s stock valued at $90,244,000 after purchasing an additional 695,458 shares during the period. Eventide Asset Management LLC acquired a new stake in shares of Edgewise Therapeutics in the 1st quarter valued at approximately $12,503,000. Finally, Woodline Partners LP boosted its position in shares of Edgewise Therapeutics by 93.4% during the 1st quarter. Woodline Partners LP now owns 1,096,809 shares of the company’s stock worth $24,130,000 after purchasing an additional 529,591 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on EWTX shares. The Goldman Sachs Group started coverage on shares of Edgewise Therapeutics in a research note on Thursday, September 25th. They issued a “neutral” rating and a $20.00 price objective on the stock. Wedbush lowered their price objective on Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, November 7th. JPMorgan Chase & Co. upped their target price on shares of Edgewise Therapeutics from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.27.

Insider Buying and Selling at Edgewise Therapeutics

In other news, insider Alan J. Russell sold 100,000 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $21.12, for a total value of $2,112,000.00. Following the completion of the transaction, the insider owned 23,400 shares in the company, valued at approximately $494,208. This represents a 81.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 purchase, the director owned 23,702 shares of the company’s stock, valued at approximately $441,805.28. This trade represents a 82.30% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 23.20% of the stock is owned by company insiders.

Edgewise Therapeutics Trading Up 1.7%

EWTX opened at $23.74 on Thursday. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of -15.03 and a beta of 0.26. The stock has a fifty day moving average price of $19.23 and a 200 day moving average price of $16.01. Edgewise Therapeutics, Inc. has a 1 year low of $10.60 and a 1 year high of $35.50.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, November 6th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.01. As a group, sell-side analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

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.