Soleus Capital Management L.P. Acquires New Holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Soleus Capital Management L.P. bought a new stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 183,300 shares of the company's stock, valued at approximately $4,894,000. Soleus Capital Management L.P. owned approximately 0.19% of Edgewise Therapeutics as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Light Asset Management LLC acquired a new stake in shares of Edgewise Therapeutics in the 4th quarter valued at $20,843,000. Franklin Resources Inc. lifted its position in 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 buying an additional 20,674 shares in the last quarter. Amundi lifted its position in Edgewise Therapeutics by 127.2% during the 4th quarter. Amundi now owns 341,687 shares of the company's stock worth $8,686,000 after buying an additional 191,267 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Edgewise Therapeutics during the 4th quarter worth about $576,000. Finally, Russell Investments Group Ltd. acquired a new position in Edgewise Therapeutics during the 4th quarter worth about $883,000.

Insider Buying and Selling at Edgewise Therapeutics

In other news, General Counsel John R. Moore sold 1,930 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 value of $31,748.50. Following the completion of the sale, the general counsel now directly owns 6,531 shares of the company's stock, valued at $107,434.95. This represents a 22.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Orbimed Advisors Llc purchased 496,771 shares of the stock in a transaction dated Thursday, April 3rd. The stock was bought at an average cost 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 in the company, valued at $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. In the last three months, insiders have sold 14,258 shares of company stock worth $234,544. Company insiders own 23.20% of the company's stock.

Edgewise Therapeutics Stock Performance

Edgewise Therapeutics stock traded up $0.19 during trading hours on Friday, reaching $14.21. 1,014,539 shares of the company's stock traded hands, compared to its average volume of 1,177,653. Edgewise Therapeutics, Inc. has a fifty-two week low of $10.60 and a fifty-two week high of $38.12. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -9.47 and a beta of 0.36. The firm's 50 day moving average is $15.83 and its 200-day moving average is $24.26.

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, beating analysts' consensus estimates of ($0.45) by $0.02. Analysts predict that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on EWTX shares. Scotiabank downgraded shares of Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and reduced their price target for the stock from $50.00 to $14.00 in a research report on Wednesday, April 2nd. Guggenheim started coverage on shares of Edgewise Therapeutics in a research report on Wednesday, April 30th. They issued a "buy" rating and a $41.00 price objective for the company. Piper Sandler reiterated an "overweight" rating and issued a $51.00 price objective on shares of Edgewise Therapeutics in a research report on Wednesday, April 2nd. Royal Bank of Canada lowered their target price on Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating for the company in a research note on Thursday, April 3rd. Finally, Wedbush restated an "outperform" rating and set a $43.00 target price on shares of Edgewise Therapeutics in a research report on Monday, April 21st. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $40.22.

About Edgewise Therapeutics

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.