Acuta Capital Partners LLC Buys 24,658 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Acuta Capital Partners LLC boosted its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 39.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,658 shares of the company's stock after acquiring an additional 24,658 shares during the quarter. Edgewise Therapeutics accounts for about 2.4% of Acuta Capital Partners LLC's investment portfolio, making the stock its 16th biggest position. Acuta Capital Partners LLC owned about 0.09% of Edgewise Therapeutics worth $2,340,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership grew its holdings in shares of Edgewise Therapeutics by 7.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,071,596 shares of the company's stock worth $28,612,000 after purchasing an additional 70,964 shares during the last quarter. First Light Asset Management LLC bought a new stake in Edgewise Therapeutics during the fourth quarter worth about $20,843,000. Dimensional Fund Advisors LP increased its holdings in shares of Edgewise Therapeutics by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 729,923 shares of the company's stock worth $19,491,000 after buying an additional 3,052 shares in the last quarter. Northern Trust Corp raised its stake in shares of Edgewise Therapeutics by 6.2% in the fourth quarter. Northern Trust Corp now owns 611,306 shares of the company's stock valued at $16,322,000 after acquiring an additional 35,426 shares during the last quarter. Finally, Foresite Capital Management VI LLC acquired a new position in shares of Edgewise Therapeutics in the 4th quarter worth approximately $15,620,000.

Edgewise Therapeutics Stock Up 3.2 %

Shares of NASDAQ:EWTX traded up $0.47 during midday trading on Wednesday, reaching $14.85. The company had a trading volume of 417,762 shares, compared to its average volume of 1,156,545. The business's 50 day moving average price is $18.90 and its 200 day moving average price is $25.98. The stock has a market cap of $1.56 billion, a PE ratio of -9.90 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 announced its quarterly earnings data on Monday, March 3rd. The company reported ($0.42) EPS for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.03). On average, research analysts expect that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Edgewise Therapeutics

In related news, insider Alan J. Russell sold 1,200 shares of Edgewise Therapeutics stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $30.13, for a total value of $36,156.00. Following the transaction, the insider now directly owns 14,863 shares of the company's stock, valued at $447,822.19. This trade represents a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Orbimed Advisors Llc bought 496,771 shares of the business's stock in a transaction on Thursday, April 3rd. The shares were 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 directly owns 14,809,075 shares of the company's stock, valued at approximately $298,106,679.75. The trade was a 3.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 24.11% of the company's stock.

Analysts Set New Price Targets

EWTX has been the subject of several research analyst reports. Wedbush reiterated an "outperform" rating and issued a $43.00 price objective on shares of Edgewise Therapeutics in a research report on Monday, April 21st. Royal Bank of Canada reduced their price target on shares of Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating on the stock in a research report on Thursday, April 3rd. Piper Sandler reaffirmed an "overweight" rating and issued a $51.00 target price on shares of Edgewise Therapeutics in a research note on Wednesday, April 2nd. Guggenheim began coverage on Edgewise Therapeutics in a research note on Wednesday, April 30th. They issued a "buy" rating and a $41.00 target price for the company. Finally, Stifel Nicolaus assumed coverage on shares of Edgewise Therapeutics in a report on Wednesday, January 22nd. They set a "hold" rating and a $30.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Edgewise Therapeutics currently 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.