Balyasny Asset Management L.P. Makes New $624,000 Investment in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Balyasny Asset Management L.P. acquired a new stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 23,364 shares of the company's stock, valued at approximately $624,000.

A number of other hedge funds have also modified their holdings of EWTX. Barclays PLC increased its stake in Edgewise Therapeutics by 291.0% in the 3rd quarter. Barclays PLC now owns 119,350 shares of the company's stock worth $3,186,000 after acquiring an additional 88,826 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Edgewise Therapeutics by 84.2% during the 3rd quarter. Franklin Resources Inc. now owns 45,223 shares of the company's stock worth $1,207,000 after purchasing an additional 20,674 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Edgewise Therapeutics by 146.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 158,506 shares of the company's stock worth $4,231,000 after acquiring an additional 94,147 shares in the last quarter. Moody Aldrich Partners LLC lifted its holdings in shares of Edgewise Therapeutics by 24.3% during the 4th quarter. Moody Aldrich Partners LLC now owns 187,932 shares of the company's stock valued at $5,018,000 after purchasing an additional 36,775 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in Edgewise Therapeutics by 11.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 20,077 shares of the company's stock valued at $536,000 after buying an additional 2,042 shares during the last quarter.

Wall Street Analysts Forecast Growth

EWTX has been the subject of a number of research reports. Guggenheim initiated coverage on Edgewise Therapeutics in a report on Wednesday, April 30th. They set a "buy" rating and a $41.00 target price for the company. Scotiabank downgraded shares of Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the company from $50.00 to $14.00 in a report on Wednesday, April 2nd. Wedbush reiterated an "outperform" rating and set a $43.00 price target on shares of Edgewise Therapeutics in a research report on Monday, April 21st. Stifel Nicolaus initiated coverage on shares of Edgewise Therapeutics in a report on Wednesday, January 22nd. They issued a "hold" rating and a $30.00 price objective for the company. Finally, Royal Bank of Canada reduced their price target on 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 stock. Based on data from MarketBeat, Edgewise Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $40.22.

Insider Buying and Selling at Edgewise Therapeutics

In other news, CMO Joanne M. Donovan sold 5,187 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $16.45, for a total value of $85,326.15. Following the completion of the transaction, the chief marketing officer now owns 21,588 shares of the company's stock, valued at $355,122.60. The trade was a 19.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kevin Koch sold 4,276 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $16.45, for a total value of $70,340.20. Following the completion of the transaction, the chief executive officer now owns 20,619 shares of the company's stock, valued at $339,182.55. This trade represents a 17.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,258 shares of company stock valued at $234,544. Insiders own 23.20% of the company's stock.

Edgewise Therapeutics Stock Performance

Edgewise Therapeutics stock traded up $0.01 during mid-day trading on Monday, reaching $14.79. 729,428 shares of the company were exchanged, compared to its average volume of 1,170,442. The firm's 50-day simple moving average is $16.96 and its two-hundred day simple moving average is $24.82. Edgewise Therapeutics, Inc. has a twelve month low of $10.60 and a twelve month high of $38.12. The firm has a market cap of $1.56 billion, a PE ratio of -9.86 and a beta of 0.36.

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

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.