D. E. Shaw & Co. Inc. Acquires 231,023 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

D. E. Shaw & Co. Inc. raised its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 50.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 686,371 shares of the company's stock after purchasing an additional 231,023 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.72% of Edgewise Therapeutics worth $18,326,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of EWTX. First Light Asset Management LLC acquired a new position in Edgewise Therapeutics during the 4th quarter worth $20,843,000. Foresite Capital Management VI LLC acquired a new position in shares of Edgewise Therapeutics during the fourth quarter valued at $15,620,000. Braidwell LP lifted its stake in shares of Edgewise Therapeutics by 19.1% during the fourth quarter. Braidwell LP now owns 2,332,196 shares of the company's stock valued at $62,270,000 after acquiring an additional 373,886 shares during the period. Baker BROS. Advisors LP boosted its holdings in Edgewise Therapeutics by 5.4% in the fourth quarter. Baker BROS. Advisors LP now owns 6,155,940 shares of the company's stock valued at $164,364,000 after acquiring an additional 315,881 shares during the last quarter. Finally, Pictet Asset Management Holding SA acquired a new stake in Edgewise Therapeutics in the fourth quarter worth about $8,043,000.

Edgewise Therapeutics Price Performance

EWTX traded up $0.33 during mid-day trading on Friday, hitting $14.78. The stock had a trading volume of 1,281,742 shares, compared to its average volume of 1,166,956. The stock's fifty day simple moving average is $17.22 and its 200-day simple moving average is $25.08. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -9.85 and a beta of 0.36. Edgewise Therapeutics, Inc. has a 1-year low of $10.60 and a 1-year high of $38.12.

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

Wall Street Analysts Forecast Growth

EWTX has been the topic of a number of research reports. Stifel Nicolaus started coverage on shares of Edgewise Therapeutics in a research report on Wednesday, January 22nd. They set a "hold" rating and a $30.00 target price on the stock. Wedbush restated an "outperform" rating and issued a $43.00 price objective on shares of Edgewise Therapeutics in a report on Monday, April 21st. Guggenheim started coverage on shares of Edgewise Therapeutics in a research note on Wednesday, April 30th. They issued a "buy" rating and a $41.00 price objective on the stock. Piper Sandler reiterated an "overweight" rating and set a $51.00 target price on shares of Edgewise Therapeutics in a research report on Wednesday, April 2nd. Finally, Scotiabank downgraded Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and cut their price target for the company from $50.00 to $14.00 in a research note on Wednesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.22.

Insiders Place Their Bets

In other news, CMO Joanne M. Donovan sold 5,187 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $16.45, for a total transaction of $85,326.15. Following the completion of the transaction, the chief marketing officer now directly owns 21,588 shares of the company's stock, valued at $355,122.60. This represents a 19.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alan J. Russell sold 1,551 shares of the company'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 $25,513.95. Following the transaction, the insider now directly owns 18,521 shares of the company's stock, valued at approximately $304,670.45. This trade represents a 7.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,258 shares of company stock worth $234,544 over the last ninety days. 23.20% of the stock is currently owned by corporate insiders.

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.