HighVista Strategies LLC Has $914,000 Holdings in Edgewise Therapeutics, Inc. $EWTX

HighVista Strategies LLC decreased its stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 23.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,723 shares of the company’s stock after selling 21,484 shares during the quarter. HighVista Strategies LLC owned approximately 0.07% of Edgewise Therapeutics worth $914,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Light Asset Management LLC grew its holdings in shares of Edgewise Therapeutics by 137.3% in the 1st quarter. First Light Asset Management LLC now owns 1,852,290 shares of the company’s stock worth $40,750,000 after purchasing an additional 1,071,651 shares during the last quarter. Siren L.L.C. grew its stake in Edgewise Therapeutics by 131.0% during the first quarter. Siren L.L.C. now owns 1,696,444 shares of the company’s stock worth $37,322,000 after buying an additional 962,101 shares during the last quarter. Cormorant Asset Management LP increased its holdings in shares of Edgewise Therapeutics by 20.4% during the first quarter. Cormorant Asset Management LP now owns 4,101,992 shares of the company’s stock worth $90,244,000 after buying an additional 695,458 shares in the last quarter. Eventide Asset Management LLC bought a new position in shares of Edgewise Therapeutics in the first quarter valued at approximately $12,503,000. Finally, Sio Capital Management LLC acquired a new position in shares of Edgewise Therapeutics in the 2nd quarter worth approximately $7,076,000.

Edgewise Therapeutics Price Performance

Shares of EWTX stock opened at $23.74 on Thursday. The stock has a market cap of $2.51 billion, a PE ratio of -15.03 and a beta of 0.26. The stock has a 50-day moving average of $19.23 and a 200-day moving average of $16.01. Edgewise Therapeutics, Inc. has a one year low of $10.60 and a one year high of $35.50.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on EWTX. Royal Bank Of Canada raised their price target on Edgewise Therapeutics from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on shares of Edgewise Therapeutics from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. The Goldman Sachs Group initiated coverage on shares of Edgewise Therapeutics in a research report on Thursday, September 25th. They issued a “neutral” rating and a $20.00 price objective for the company. Finally, Wedbush decreased their price objective on Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating on the stock in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.27.

Insider Buying and Selling

In other Edgewise Therapeutics news, insider Alan J. Russell sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $21.12, for a total transaction of $2,112,000.00. Following the sale, the insider directly owned 23,400 shares in the company, valued at approximately $494,208. This trade represents a 81.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jonathan C. Fox acquired 10,700 shares of the stock in a transaction dated Tuesday, November 11th. The shares were bought at an average cost of $18.64 per share, with a total value of $199,448.00. Following the transaction, the director directly owned 23,702 shares of the company’s stock, valued at $441,805.28. This represents a 82.30% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 23.20% of the stock is currently owned by corporate insiders.

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.