Denali Advisors LLC Buys New Shares in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Denali Advisors LLC purchased a new position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 19,200 shares of the company’s stock, valued at approximately $350,000.

A number of other hedge funds also recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. increased its holdings in shares of Edgewise Therapeutics by 349.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock worth $80,000 after buying an additional 5,704 shares during the last quarter. AJOVista LLC purchased a new position in shares of Edgewise Therapeutics in the 4th quarter worth about $84,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Edgewise Therapeutics by 29.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,833 shares of the company’s stock worth $228,000 after purchasing an additional 4,785 shares during the period. Virtu Financial LLC acquired a new position in shares of Edgewise Therapeutics in the 4th quarter valued at about $263,000. Finally, SG Americas Securities LLC grew its holdings in shares of Edgewise Therapeutics by 59.5% during the 4th quarter. SG Americas Securities LLC now owns 29,826 shares of the company’s stock worth $326,000 after purchasing an additional 11,128 shares during the period.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Royal Bank of Canada raised their price target on shares of Edgewise Therapeutics from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. Piper Sandler restated an “overweight” rating and set a $48.00 target price on shares of Edgewise Therapeutics in a report on Monday. Wedbush reiterated an “outperform” rating and issued a $31.00 price target on shares of Edgewise Therapeutics in a report on Wednesday, June 26th. Finally, Truist Financial reissued a “buy” rating and issued a $25.00 price objective on shares of Edgewise Therapeutics in a research report on Wednesday, April 17th.

Edgewise Therapeutics Trading Down 0.5 %

EWTX opened at $18.28 on Thursday. The firm’s 50 day moving average is $17.85 and its 200-day moving average is $16.17. Edgewise Therapeutics, Inc. has a 52-week low of $5.12 and a 52-week high of $21.60.

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

Insider Transactions at Edgewise Therapeutics

In related news, General Counsel John R. Moore sold 1,956 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $18.91, for a total value of $36,987.96. Following the completion of the transaction, the general counsel now owns 3,252 shares of the company’s stock, valued at $61,495.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO R Michael Carruthers sold 2,157 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 35,230 shares of the company’s stock, valued at $666,199.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel John R. Moore sold 1,956 shares of the company’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 $36,987.96. Following the completion of the sale, the general counsel now directly owns 3,252 shares in the company, valued at $61,495.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,665 shares of company stock valued at $239,495. 24.11% of the stock is currently owned by insiders.

Edgewise Therapeutics Company 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.