Algert Global LLC Has $2.94 Million Stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Algert Global LLC grew its position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 1,073.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 110,259 shares of the company's stock after purchasing an additional 100,859 shares during the quarter. Algert Global LLC owned 0.12% of Edgewise Therapeutics worth $2,944,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Diadema Partners LP acquired a new stake in Edgewise Therapeutics in the 4th quarter valued at about $36,000. Aquatic Capital Management LLC bought a new stake in Edgewise Therapeutics during the fourth quarter worth approximately $77,000. Tower Research Capital LLC TRC grew its position in Edgewise Therapeutics by 1,097.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,676 shares of the company's stock worth $98,000 after buying an additional 3,369 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Edgewise Therapeutics during the fourth quarter worth $103,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Edgewise Therapeutics in the 4th quarter worth about $182,000.

Insider Activity at Edgewise Therapeutics

In other news, General Counsel John R. Moore sold 1,930 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $16.45, for a total value of $31,748.50. Following the transaction, the general counsel now directly owns 6,531 shares of the company's stock, valued at $107,434.95. The trade was a 22.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Orbimed Advisors Llc bought 496,771 shares of the stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average price of $20.13 per share, with a total value of $10,000,000.23. Following the completion of the purchase, the director now owns 14,809,075 shares of the company's stock, valued at $298,106,679.75. This represents a 3.47 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 14,258 shares of company stock worth $234,544 in the last ninety days. 24.11% of the stock is currently owned by insiders.

Edgewise Therapeutics Trading Down 0.8 %

Edgewise Therapeutics stock traded down $0.12 during trading hours on Friday, reaching $14.58. 787,333 shares of the company were exchanged, compared to its average volume of 1,163,865. Edgewise Therapeutics, Inc. has a 12 month low of $10.60 and a 12 month high of $38.12. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -9.72 and a beta of 0.36. The stock has a 50-day moving average of $18.25 and a 200 day moving average of $25.56.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.45) by $0.02. As a group, research analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EWTX. Wedbush reaffirmed an "outperform" rating and set a $43.00 price objective on shares of Edgewise Therapeutics in a research note on Monday, April 21st. Stifel Nicolaus initiated coverage on Edgewise Therapeutics in a report on Wednesday, January 22nd. They set a "hold" rating and a $30.00 price target on the stock. Guggenheim initiated coverage on shares of Edgewise Therapeutics in a report on Wednesday, April 30th. They set a "buy" rating and a $41.00 price target for the company. Piper Sandler reiterated an "overweight" rating and issued a $51.00 target price on shares of Edgewise Therapeutics in a research report on Wednesday, April 2nd. Finally, Royal Bank of Canada lowered their price target on shares of Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating on the stock in a report on Thursday, April 3rd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Edgewise Therapeutics has an average rating of "Moderate Buy" and an average price target of $40.22.

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.