Moody Aldrich Partners LLC Acquires New Position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Moody Aldrich Partners LLC bought a new position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 151,157 shares of the company’s stock, valued at approximately $4,034,000. Moody Aldrich Partners LLC owned about 0.16% of Edgewise Therapeutics as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. RA Capital Management L.P. acquired a new position in Edgewise Therapeutics during the 1st quarter valued at approximately $162,502,000. Novo Holdings A S acquired a new stake in shares of Edgewise Therapeutics in the 2nd quarter worth about $114,263,000. Baker BROS. Advisors LP lifted its position in Edgewise Therapeutics by 87.6% in the 1st quarter. Baker BROS. Advisors LP now owns 5,840,059 shares of the company’s stock valued at $106,523,000 after purchasing an additional 2,727,273 shares during the last quarter. Vanguard Group Inc. lifted its position in Edgewise Therapeutics by 89.0% in the 1st quarter. Vanguard Group Inc. now owns 4,017,433 shares of the company’s stock valued at $73,278,000 after purchasing an additional 1,892,053 shares during the last quarter. Finally, Artal Group S.A. acquired a new position in Edgewise Therapeutics during the 1st quarter valued at about $14,806,000.

Analyst Upgrades and Downgrades

Several brokerages have commented on EWTX. Wedbush restated an “outperform” rating and issued a $31.00 price target on shares of Edgewise Therapeutics in a research note on Friday, August 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $32.00 target price on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. Truist Financial boosted their price target on Edgewise Therapeutics from $25.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. lifted their price objective on shares of Edgewise Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Finally, Piper Sandler upped their price objective on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $35.60.

Edgewise Therapeutics Stock Performance

Shares of EWTX stock traded up $1.00 during mid-day trading on Thursday, hitting $35.81. 176,270 shares of the stock traded hands, compared to its average volume of 967,511. Edgewise Therapeutics, Inc. has a twelve month low of $5.12 and a twelve month high of $36.66. The company’s 50-day simple moving average is $24.22 and its 200-day simple moving average is $20.19. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of -22.46 and a beta of 0.20.

Edgewise Therapeutics (NASDAQ:EWTX) last released its earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.02. Analysts forecast that Edgewise Therapeutics, Inc. will post -1.47 earnings per share for the current year.

Insider Transactions at Edgewise Therapeutics

In related news, CFO R Michael Carruthers sold 125,092 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $28.57, for a total transaction of $3,573,878.44. Following the completion of the sale, the chief financial officer now directly owns 6,904 shares of the company’s stock, valued at $197,247.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Alan J. Russell sold 75,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $28.27, for a total value of $2,120,250.00. Following the completion of the sale, the insider now owns 12,719 shares in the company, valued at approximately $359,566.13. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO R Michael Carruthers sold 125,092 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $28.57, for a total transaction of $3,573,878.44. Following the completion of the transaction, the chief financial officer now directly owns 6,904 shares of the company’s stock, valued at $197,247.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 278,176 shares of company stock valued at $7,893,316 in the last quarter. Insiders own 24.11% of the company’s stock.

About Edgewise Therapeutics

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.