D. E. Shaw & Co. Inc. Buys 231,023 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

D. E. Shaw & Co. Inc. increased its holdings in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 50.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 686,371 shares of the company’s stock after buying an additional 231,023 shares during the period. D. E. Shaw & Co. Inc. owned about 0.72% of Edgewise Therapeutics worth $18,326,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of EWTX. Diadema Partners LP acquired a new stake in shares of Edgewise Therapeutics during the 4th quarter worth approximately $36,000. Aquatic Capital Management LLC bought a new stake in Edgewise Therapeutics in the 4th quarter worth about $77,000. Tower Research Capital LLC TRC lifted its holdings in Edgewise Therapeutics by 1,097.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,676 shares of the company’s stock worth $98,000 after acquiring an additional 3,369 shares during the period. Quantbot Technologies LP bought a new position in Edgewise Therapeutics during the fourth quarter valued at about $103,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Edgewise Therapeutics in the 4th quarter worth approximately $182,000.

Analysts Set New Price Targets

EWTX has been the topic of several research reports. Stifel Nicolaus assumed coverage on shares of Edgewise Therapeutics in a research report on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 price target on the stock. Guggenheim started coverage on shares of Edgewise Therapeutics in a report on Wednesday, April 30th. They issued a “buy” rating and a $41.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and set a $43.00 target price on shares of Edgewise Therapeutics in a research note on Monday, April 21st. Scotiabank downgraded Edgewise Therapeutics from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $50.00 to $14.00 in a research note on Wednesday, April 2nd. Finally, Royal Bank of Canada lowered 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. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.22.

Edgewise Therapeutics Stock Up 1.6%

Shares of EWTX opened at $14.82 on Tuesday. The business has a fifty day moving average of $18.01 and a 200 day moving average of $25.36. The company has a market cap of $1.55 billion, a PE ratio of -9.88 and a beta of 0.36. Edgewise Therapeutics, Inc. has a 52-week low of $10.60 and a 52-week high of $38.12.

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

Insider Buying and Selling at Edgewise Therapeutics

In other news, Director Orbimed Advisors Llc purchased 496,771 shares of the business’s stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average price of $20.13 per share, for a total transaction of $10,000,000.23. Following the completion of the purchase, the director now owns 14,809,075 shares in the company, valued at approximately $298,106,679.75. This represents a 3.47% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel John R. Moore sold 1,930 shares of the company’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $16.45, for a total transaction of $31,748.50. Following the completion of the sale, the general counsel now directly owns 6,531 shares of the company’s stock, valued at approximately $107,434.95. This trade represents a 22.81% decrease in their ownership of the stock. 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 three months. Company insiders own 24.11% of the company’s stock.

About Edgewise Therapeutics

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.