Virtu Financial LLC Takes $263,000 Position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Virtu Financial LLC purchased a new stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,037 shares of the company’s stock, valued at approximately $263,000.

Several other hedge funds have also modified their holdings of EWTX. Frazier Life Sciences Management L.P. grew its stake in shares of Edgewise Therapeutics by 214.2% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 2,667,203 shares of the company’s stock valued at $29,179,000 after purchasing an additional 1,818,181 shares during the last quarter. Perceptive Advisors LLC bought a new stake in shares of Edgewise Therapeutics during the fourth quarter valued at approximately $6,078,000. Vontobel Holding Ltd. bought a new stake in shares of Edgewise Therapeutics during the fourth quarter valued at approximately $3,586,000. Sectoral Asset Management Inc. bought a new stake in shares of Edgewise Therapeutics during the fourth quarter valued at approximately $3,586,000. Finally, Parkman Healthcare Partners LLC grew its stake in shares of Edgewise Therapeutics by 37.7% during the fourth quarter. Parkman Healthcare Partners LLC now owns 651,625 shares of the company’s stock valued at $7,129,000 after purchasing an additional 178,313 shares during the last quarter.

Insiders Place Their Bets

In other Edgewise Therapeutics news, CEO Kevin Koch sold 3,152 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $18.91, for a total value of $59,604.32. Following the sale, the chief executive officer now directly owns 14,478 shares in the company, valued at $273,778.98. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO R Michael Carruthers sold 2,157 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $18.91, for a total transaction of $40,788.87. Following the sale, the chief financial officer now directly owns 35,230 shares in the company, valued at $666,199.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kevin Koch sold 3,152 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $18.91, for a total transaction of $59,604.32. Following the sale, the chief executive officer now owns 14,478 shares in the company, valued at $273,778.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,665 shares of company stock worth $239,495. Company insiders own 24.11% of the company’s stock.

Edgewise Therapeutics Stock Performance

EWTX opened at $17.05 on Friday. The firm’s fifty day moving average is $17.51 and its two-hundred day moving average is $15.49. The firm has a market cap of $1.59 billion, a PE ratio of -11.00 and a beta of 0.13. Edgewise Therapeutics, Inc. has a twelve month low of $5.12 and a twelve month high of $21.60.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, May 9th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.06. Equities analysts forecast that Edgewise Therapeutics, Inc. will post -1.59 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Piper Sandler assumed coverage on shares of Edgewise Therapeutics in a research note on Thursday, March 7th. They issued an “overweight” rating and a $48.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and issued a $26.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday, April 16th. Truist Financial reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Edgewise Therapeutics in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada raised their price objective on shares of Edgewise Therapeutics from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $31.20.

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.