44,466 Shares in Edgewise Therapeutics, Inc. $EWTX Bought by GSA Capital Partners LLP

Key Points

• GSA Capital Partners bought 44,466 shares of Edgewise Therapeutics during the second quarter, valued at approximately $1.81 million. Other institutions also increased their positions, including Janus Henderson, which owned nearly 5.92 million shares.
• Insiders sold 238,329 shares worth approximately $9.56 million in the last quarter, though the disclosed sales were made primarily to cover tax-withholding obligations tied to vested equity awards. Insiders continue to own 21.3% of the company.
• EWTX shares opened at $44.17, near their 52-week high of $48.40, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $49.08. The company reported quarterly EPS of negative $0.53, missing the consensus estimate of negative $0.47.

GSA Capital Partners LLP bought a new stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 44,466 shares of the company's stock, valued at approximately $1,807,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Seven Fleet Capital Management LP raised its holdings in shares of Edgewise Therapeutics by 485.1% in the 1st quarter. Seven Fleet Capital Management LP now owns 11,701 shares of the company's stock worth $369,000 after purchasing an additional 9,701 shares during the period. Parallel Advisors LLC grew its holdings in shares of Edgewise Therapeutics by 64.9% during the 1st quarter. Parallel Advisors LLC now owns 1,032 shares of the company's stock worth $33,000 after purchasing an additional 406 shares during the period. Glenmede Trust Co. NA purchased a new stake in shares of Edgewise Therapeutics during the 1st quarter worth about $606,000. Janus Henderson Group PLC increased its position in Edgewise Therapeutics by 29.5% during the 1st quarter. Janus Henderson Group PLC now owns 5,915,556 shares of the company's stock worth $186,289,000 after purchasing an additional 1,348,706 shares in the last quarter. Finally, Ally Bridge Group NY LLC increased its position in Edgewise Therapeutics by 392.7% during the 1st quarter. Ally Bridge Group NY LLC now owns 161,000 shares of the company's stock worth $5,072,000 after purchasing an additional 216,000 shares in the last quarter.

Insider Activity at Edgewise Therapeutics

In related news, insider Alan J. Russell sold 5,901 shares of Edgewise Therapeutics stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $43.73, for a total value of $258,050.73. Following the completion of the transaction, the insider directly owned 31,466 shares in the company, valued at approximately $1,376,008.18. This trade represents a 15.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel John R. Moore sold 5,016 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $43.82, for a total value of $219,801.12. Following the sale, the general counsel owned 17,697 shares in the company, valued at $775,482.54. The trade was a 22.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 238,329 shares of company stock worth $9,557,529 over the last quarter. Company insiders own 21.30% of the company's stock.

Edgewise Therapeutics Price Performance

Shares of Edgewise Therapeutics stock opened at $44.17 on Monday. The business has a 50-day moving average of $40.12 and a 200-day moving average of $34.66. The company has a market capitalization of $4.80 billion, a PE ratio of -23.88 and a beta of 0.30. Edgewise Therapeutics, Inc. has a 1-year low of $13.52 and a 1-year high of $48.40.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.06). On average, equities analysts expect that Edgewise Therapeutics, Inc. will post -2.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EWTX has been the topic of a number of recent research reports. HC Wainwright reaffirmed a "buy" rating and set a $45.00 price target on shares of Edgewise Therapeutics in a research report on Tuesday, June 16th. Wedbush increased their price objective on shares of Edgewise Therapeutics from $46.00 to $52.00 and gave the stock an "outperform" rating in a research report on Monday, June 1st. Oppenheimer began coverage on shares of Edgewise Therapeutics in a research note on Thursday, July 9th. They issued an "outperform" rating and a $51.00 target price on the stock. Evercore restated an "outperform" rating and set a $55.00 target price on shares of Edgewise Therapeutics in a report on Monday, July 20th. Finally, Royal Bank Of Canada lifted their target price on shares of Edgewise Therapeutics from $48.00 to $59.00 and gave the company an "outperform" rating in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $49.08.

More Edgewise Therapeutics News

Here are the key news stories impacting Edgewise Therapeutics this week:

• Neutral Sentiment: The sales were made to cover tax-withholding obligations associated with the vesting of equity awards, rather than representing stated concerns about the company’s outlook. Insiders continued to hold shares after the transactions, which reduces the negative significance of the filings. CEO SEC filing General counsel SEC filing Insider SEC filing CMO SEC filing
• Negative Sentiment: The number of transactions and the reductions in individual holdings—ranging from roughly 16% to 36%—could create modest sentiment pressure because multiple executives sold shares while EWTX was trading at elevated levels. However, the tax-related purpose makes these filings a limited signal of insider sentiment.

Edgewise Therapeutics Company Profile

Edgewise Therapeutics, Inc NASDAQ: EWTX is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the discovery and development of precision medicines for the treatment of rare diseases. The company leverages its expertise in small-molecule chemistry and ion channel biology to address severe, unmet medical needs, particularly in the areas of kidney disorders and neuromuscular diseases.

At the core of Edgewise's pipeline is EWTX-101, a novel, orally available inhibitor of TRPC5, a calcium channel implicated in nephrotic syndromes such as focal segmental glomerulosclerosis (FSGS) and other proteinuric kidney diseases.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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