Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Shares Purchased by Stempoint Capital LP

Stempoint Capital LP increased its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 566.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,706 shares of the company’s stock after purchasing an additional 112,806 shares during the period. Stempoint Capital LP owned 0.14% of Edgewise Therapeutics worth $3,543,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

EWTX has been the subject of several analyst reports. Stifel Nicolaus initiated coverage on Edgewise Therapeutics in a report on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 price target for the company. Guggenheim started coverage on Edgewise Therapeutics in a report on Wednesday, April 30th. They set a “buy” rating and a $41.00 price objective for the company. Wedbush restated an “outperform” rating and set a $43.00 price objective on shares of Edgewise Therapeutics in a report on Monday, April 21st. Royal Bank of Canada dropped their price objective on Edgewise Therapeutics from $56.00 to $52.00 and set an “outperform” rating for the company in a report on Thursday, April 3rd. Finally, Piper Sandler restated an “overweight” rating and set a $51.00 price objective on shares of Edgewise Therapeutics in a report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $40.22.

Insider Activity

In other Edgewise Therapeutics news, Director Orbimed Advisors Llc acquired 496,771 shares of the company’s stock in a transaction that occurred on 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 directly owns 14,809,075 shares in the company, valued at $298,106,679.75. The trade was a 3.47% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kevin Koch sold 4,276 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $16.45, for a total transaction of $70,340.20. Following the sale, the chief executive officer now owns 20,619 shares in the company, valued at approximately $339,182.55. This trade represents a 17.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,258 shares of company stock worth $234,544. 23.20% of the stock is currently owned by corporate insiders.

Edgewise Therapeutics Stock Performance

Shares of Edgewise Therapeutics stock opened at $14.78 on Friday. The firm has a market cap of $1.55 billion, a PE ratio of -9.85 and a beta of 0.36. The firm’s 50-day simple moving average is $16.96 and its 200-day simple moving average is $24.94. Edgewise Therapeutics, Inc. has a 1 year low of $10.60 and a 1 year high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Thursday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.02. On average, equities analysts predict that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

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.