Edgewise Therapeutics, Inc. $EWTX Stock Sold by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC reduced its position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 18.5% in the third quarter, Holdings Channel reports. The fund owned 85,563 shares of the company’s stock after selling 19,389 shares during the quarter. Moody Aldrich Partners LLC’s holdings in Edgewise Therapeutics were worth $3,474,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Parallel Advisors LLC increased its position in Edgewise Therapeutics by 64.9% in the first quarter. Parallel Advisors LLC now owns 1,032 shares of the company’s stock worth $33,000 after purchasing an additional 406 shares during the last quarter. KBC Group NV purchased a new stake in Edgewise Therapeutics during the first quarter valued at $49,000. Sterling Capital Management LLC raised its stake in Edgewise Therapeutics by 840.2% during the third quarter. Sterling Capital Management LLC now owns 2,360 shares of the company’s stock valued at $96,000 after purchasing an additional 2,109 shares in the last quarter. GAMMA Investing LLC raised its stake in Edgewise Therapeutics by 26.5% during the third quarter. GAMMA Investing LLC now owns 2,666 shares of the company’s stock valued at $108,000 after purchasing an additional 559 shares in the last quarter. Finally, Strs Ohio bought a new position in Edgewise Therapeutics during the first quarter valued at $217,000.

Wall Street Analysts Forecast Growth

EWTX has been the subject of a number of recent research reports. HC Wainwright reissued a “buy” rating on shares of Edgewise Therapeutics in a research note on Wednesday, October 14th. William Blair assumed coverage on shares of Edgewise Therapeutics in a research report on Friday, October 16th. They set an “outperform” rating on the stock. Evercore reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Edgewise Therapeutics in a report on Monday, July 20th. Wall Street Zen raised shares of Edgewise Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, October 4th. Finally, JPMorgan Chase & Co. lifted their price target on Edgewise Therapeutics from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Edgewise Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $51.33.

Insider Activity

In other Edgewise Therapeutics news, CMO Joanne Donovan sold 6,522 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $43.85, for a total transaction of $285,989.70. Following the transaction, the chief marketing officer owned 11,544 shares in the company, valued at $506,204.40. The trade was a 36.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Kevin Koch sold 17,971 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $43.68, for a total transaction of $784,973.28. Following the completion of the sale, the chief executive officer directly owned 52,488 shares in the company, valued at approximately $2,292,675.84. This represents a 25.51% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 38,329 shares of company stock worth $1,675,529. 21.30% of the stock is currently owned by insiders.

Edgewise Therapeutics Stock Performance

NASDAQ EWTX opened at $40.49 on Thursday. The company has a market cap of $4.40 billion, a P/E ratio of -21.89 and a beta of 0.35. The business’s 50 day moving average price is $41.58 and its 200-day moving average price is $36.09. Edgewise Therapeutics, Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $48.51.

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

Edgewise Therapeutics Company Profile

Edgewise Therapeutics, Inc is a clinical-stage biotechnology company focused on developing small-molecule therapies for severe muscle disorders. The company’s research programs target the biology of skeletal and cardiac muscle, with the goal of addressing diseases for which treatment options remain limited.

Edgewise’s lead product candidate is sevasemten (formerly EDG-5506), an oral therapy designed to reduce contraction-induced muscle damage associated with dystrophinopathies, including Duchenne and Becker muscular dystrophy.