Elmind Capital LP Has $315,000 Stock Position in Edgewise Therapeutics, Inc. $EWTX

Elmind Capital LP lowered its stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 66.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 10,000 shares of the company’s stock after selling 20,000 shares during the period. Elmind Capital LP’s holdings in Edgewise Therapeutics were worth $315,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Orbimed Advisors LLC grew its stake in Edgewise Therapeutics by 3.3% in the 2nd quarter. Orbimed Advisors LLC now owns 15,518,492 shares of the company’s stock valued at $203,447,000 after buying an additional 496,771 shares during the last quarter. RA Capital Management L.P. grew its position in shares of Edgewise Therapeutics by 5.3% in the third quarter. RA Capital Management L.P. now owns 10,428,437 shares of the company’s stock valued at $169,149,000 after purchasing an additional 525,804 shares during the last quarter. Paradigm Biocapital Advisors LP increased its stake in shares of Edgewise Therapeutics by 6.0% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 6,541,210 shares of the company’s stock worth $162,320,000 after purchasing an additional 371,079 shares during the period. Vanguard Group Inc. increased its stake in shares of Edgewise Therapeutics by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 4,871,624 shares of the company’s stock worth $120,889,000 after purchasing an additional 67,683 shares during the period. Finally, Siren L.L.C. lifted its holdings in Edgewise Therapeutics by 16.2% during the 4th quarter. Siren L.L.C. now owns 4,529,990 shares of the company’s stock worth $112,412,000 after purchasing an additional 632,891 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. The Goldman Sachs Group boosted their price target on Edgewise Therapeutics from $20.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, June 17th. Truist Financial set a $52.00 target price on Edgewise Therapeutics in a report on Wednesday, May 6th. Evercore restated an “outperform” rating and issued a $55.00 price target on shares of Edgewise Therapeutics in a research note on Monday, July 20th. Royal Bank Of Canada lifted their price objective on shares of Edgewise Therapeutics from $48.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 17th. Finally, HC Wainwright reissued a “buy” rating and issued a $45.00 price objective on shares of Edgewise Therapeutics in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.75.

Edgewise Therapeutics Stock Performance

NASDAQ:EWTX opened at $41.60 on Tuesday. The company has a market cap of $4.48 billion, a price-to-earnings ratio of -25.06 and a beta of 0.27. Edgewise Therapeutics, Inc. has a fifty-two week low of $12.30 and a fifty-two week high of $48.40. The stock has a fifty day moving average price of $37.88 and a 200-day moving average price of $33.13.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.46) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.04. Research analysts predict that Edgewise Therapeutics, Inc. will post -2.01 EPS for the current fiscal year.

Insider Activity at Edgewise Therapeutics

In other Edgewise Therapeutics news, insider Alan J. Russell sold 200,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $39.41, for a total transaction of $7,882,000.00. Following the completion of the sale, the insider directly owned 24,555 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. Also, CMO Joanne M. Donovan sold 50,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $38.57, for a total value of $1,928,500.00. Following the completion of the sale, the chief marketing officer directly owned 4,367 shares in the company, valued at approximately $168,435.19. This represents a 91.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 255,230 shares of company stock valued at $9,974,147. Company insiders own 21.30% of the company’s stock.

Edgewise Therapeutics Profile

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.