PDT Partners LLC Sells 5,736 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

PDT Partners LLC lessened its holdings in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 21.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,551 shares of the company’s stock after selling 5,736 shares during the quarter. PDT Partners LLC’s holdings in Edgewise Therapeutics were worth $549,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EWTX. Fred Alger Management LLC acquired a new stake in shares of Edgewise Therapeutics during the third quarter worth about $564,000. Braidwell LP bought a new stake in Edgewise Therapeutics during the 3rd quarter worth approximately $52,267,000. Walleye Capital LLC bought a new position in Edgewise Therapeutics in the third quarter valued at approximately $6,466,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Edgewise Therapeutics by 5.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 84,294 shares of the company’s stock valued at $2,250,000 after buying an additional 4,426 shares during the period. Finally, Ally Bridge Group NY LLC bought a new stake in shares of Edgewise Therapeutics during the third quarter worth $5,010,000.

Insider Buying and Selling

In other Edgewise Therapeutics news, General Counsel John R. Moore sold 20,922 shares of Edgewise Therapeutics stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $27.63, for a total transaction of $578,074.86. Following the completion of the transaction, the general counsel now directly owns 3,252 shares of the company’s stock, valued at $89,852.76. The trade was a 86.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO R Michael Carruthers sold 125,092 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 6,904 shares in the company, valued at $197,247.28. The trade was a 94.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 278,176 shares of company stock worth $7,893,316. Company insiders own 24.11% of the company’s stock.

Edgewise Therapeutics Stock Down 4.4 %

Shares of Edgewise Therapeutics stock opened at $31.54 on Tuesday. The stock has a market cap of $2.99 billion, a P/E ratio of -22.00 and a beta of 0.14. Edgewise Therapeutics, Inc. has a 12-month low of $6.07 and a 12-month high of $38.12. The business’s 50 day moving average is $31.92 and its 200-day moving average is $23.29.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.01. On average, sell-side analysts expect that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $32.00 price objective on shares of Edgewise Therapeutics in a report on Tuesday, September 17th. Evercore ISI began coverage on Edgewise Therapeutics in a research report on Friday, November 22nd. They issued an “outperform” rating and a $45.00 target price on the stock. Piper Sandler raised their price target on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Wedbush boosted their price objective on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Edgewise Therapeutics has an average rating of “Buy” and a consensus target price of $42.33.

Edgewise Therapeutics Profile

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.