21,204 Shares in Edgewise Therapeutics, Inc. $EWTX Bought by Persistent Asset Partners Ltd

Persistent Asset Partners Ltd bought a new position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 21,204 shares of the company’s stock, valued at approximately $526,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EWTX. Morgan Stanley lifted its position in Edgewise Therapeutics by 234.7% in the fourth quarter. Morgan Stanley now owns 2,910,881 shares of the company’s stock worth $72,234,000 after purchasing an additional 2,041,203 shares during the period. UBS Group AG lifted its holdings in shares of Edgewise Therapeutics by 1,755.0% during the fourth quarter. UBS Group AG now owns 2,117,073 shares of the company’s stock valued at $52,535,000 after acquiring an additional 2,002,945 shares during the period. Norges Bank bought a new position in shares of Edgewise Therapeutics during the fourth quarter valued at $18,645,000. Sofinnova Investments Inc. lifted its holdings in shares of Edgewise Therapeutics by 3,185.7% during the second quarter. Sofinnova Investments Inc. now owns 716,873 shares of the company’s stock valued at $9,398,000 after acquiring an additional 695,055 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Edgewise Therapeutics during the fourth quarter valued at $16,925,000.

Edgewise Therapeutics Stock Down 3.6%

Edgewise Therapeutics stock opened at $33.95 on Wednesday. The stock has a 50-day simple moving average of $33.75 and a 200 day simple moving average of $29.79. Edgewise Therapeutics, Inc. has a 12-month low of $12.15 and a 12-month high of $40.76. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of -20.45 and a beta of 0.27.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.04. As a group, sell-side analysts anticipate that Edgewise Therapeutics, Inc. will post -2.01 EPS for the current year.

Insider Activity

In related news, CMO Joanne M. Donovan sold 50,000 shares of Edgewise Therapeutics stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $38.57, for a total value of $1,928,500.00. Following the completion of the transaction, the chief marketing officer directly owned 4,367 shares of the company’s stock, valued at $168,435.19. The trade was a 91.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 83,892 shares of company stock valued at $3,018,216 over the last three months. Insiders own 21.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on EWTX shares. Raymond James Financial reissued a “strong-buy” rating and set a $66.00 price objective on shares of Edgewise Therapeutics in a report on Monday, June 1st. Wedbush lifted their price objective on Edgewise Therapeutics from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, June 1st. JPMorgan Chase & Co. lifted their price objective on Edgewise Therapeutics from $34.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday, March 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Monday, April 20th. Finally, Royal Bank Of Canada cut their price objective on Edgewise Therapeutics from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Edgewise Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $45.00.

About Edgewise Therapeutics

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.