State of Wyoming Makes New Investment in Edgewise Therapeutics, Inc. $EWTX

State of Wyoming purchased a new position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 12,913 shares of the company’s stock, valued at approximately $525,000.

Several other large investors also recently added to or reduced their stakes in EWTX. GSA Capital Partners LLP bought a new position in shares of Edgewise Therapeutics in the second quarter worth $1,807,000. Seven Fleet Capital Management LP raised its stake in shares of Edgewise Therapeutics by 485.1% during the 1st quarter. Seven Fleet Capital Management LP now owns 11,701 shares of the company’s stock valued at $369,000 after purchasing an additional 9,701 shares during the period. Parallel Advisors LLC raised its stake in shares of Edgewise Therapeutics by 64.9% during the 1st quarter. Parallel Advisors LLC now owns 1,032 shares of the company’s stock valued at $33,000 after purchasing an additional 406 shares during the period. Glenmede Trust Co. NA purchased a new stake in Edgewise Therapeutics during the 1st quarter worth about $606,000. Finally, Janus Henderson Group PLC lifted its holdings in Edgewise Therapeutics by 29.5% during the 1st quarter. Janus Henderson Group PLC now owns 5,915,556 shares of the company’s stock worth $186,289,000 after purchasing an additional 1,348,706 shares in the last quarter.

Edgewise Therapeutics Price Performance

Shares of NASDAQ EWTX opened at $44.04 on Tuesday. The stock has a market capitalization of $4.78 billion, a P/E ratio of -23.81 and a beta of 0.30. Edgewise Therapeutics, Inc. has a one year low of $13.52 and a one year high of $48.40. The firm’s 50 day simple moving average is $40.30 and its two-hundred day simple moving average is $34.77.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.06). As a group, equities analysts expect that Edgewise Therapeutics, Inc. will post -2.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Edgewise Therapeutics

In other news, CEO Kevin Koch sold 17,971 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $43.68, for a total transaction of $784,973.28. Following the transaction, the chief executive officer directly owned 52,488 shares of the company’s stock, valued at approximately $2,292,675.84. This trade represents a 25.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alan J. Russell sold 5,901 shares of Edgewise Therapeutics stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $43.73, for a total value of $258,050.73. Following the completion of the transaction, the insider owned 31,466 shares in the company, valued at approximately $1,376,008.18. This represents a 15.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 238,329 shares of company stock valued at $9,557,529. Company insiders own 21.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on EWTX. Wedbush lifted their target price on Edgewise Therapeutics from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Oppenheimer started coverage on shares of Edgewise Therapeutics in a report on Thursday, July 9th. They issued an “outperform” rating and a $51.00 price target on the stock. Royal Bank Of Canada raised their price objective on shares of Edgewise Therapeutics from $48.00 to $59.00 and gave the company an “outperform” rating in a research report on Wednesday, June 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Friday, July 17th. Finally, Truist Financial set a $52.00 target price on shares of Edgewise Therapeutics in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.08.

Edgewise Therapeutics Company 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.