Elmind Capital LP Makes New $744,000 Investment in Edgewise Therapeutics, Inc. $EWTX

Elmind Capital LP bought a new stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 30,000 shares of the company’s stock, valued at approximately $744,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Orbimed Advisors LLC boosted its stake in Edgewise Therapeutics by 3.3% during the 2nd quarter. Orbimed Advisors LLC now owns 15,518,492 shares of the company’s stock valued at $203,447,000 after purchasing an additional 496,771 shares during the last quarter. RA Capital Management L.P. boosted its stake in Edgewise Therapeutics by 5.3% during the 3rd 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 boosted its stake in Edgewise Therapeutics by 6.0% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 6,541,210 shares of the company’s stock valued at $162,320,000 after purchasing an additional 371,079 shares during the last quarter. Vanguard Group Inc. boosted its stake in Edgewise Therapeutics by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 4,871,624 shares of the company’s stock valued at $120,889,000 after purchasing an additional 67,683 shares during the last quarter. Finally, Siren L.L.C. boosted its stake 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 valued at $112,412,000 after purchasing an additional 632,891 shares during the last quarter.

Edgewise Therapeutics Stock Up 2.6%

Shares of NASDAQ EWTX opened at $34.82 on Thursday. Edgewise Therapeutics, Inc. has a twelve month low of $12.15 and a twelve month high of $40.76. The stock’s 50 day moving average price is $33.79 and its 200-day moving average price is $29.86. The company has a market capitalization of $3.75 billion, a PE ratio of -20.98 and a beta of 0.27.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on EWTX shares. Raymond James Financial restated a “strong-buy” rating and issued a $66.00 target price on shares of Edgewise Therapeutics in a research note on Monday, June 1st. Truist Financial set a $52.00 target price on Edgewise Therapeutics in a research note on Wednesday, May 6th. Stifel Nicolaus set a $25.00 target price on Edgewise Therapeutics in a research note on Thursday, February 26th. HC Wainwright restated a “buy” rating and issued a $45.00 target price on shares of Edgewise Therapeutics in a research note on Tuesday. Finally, Wedbush boosted their target price on Edgewise Therapeutics from $46.00 to $52.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $47.30.

Insider Activity at Edgewise Therapeutics

In related news, CMO Joanne M. Donovan sold 50,000 shares of Edgewise Therapeutics stock in a transaction that occurred 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 sale, the chief marketing officer owned 4,367 shares of the company’s stock, valued at approximately $168,435.19. The trade was a 91.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 83,892 shares of company stock valued at $3,018,216. Insiders own 21.30% of the company’s stock.

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.