Braidwell LP Has $54.09 Million Position in Edgewise Therapeutics, Inc. $EWTX

Key Points

• Braidwell LP increased its stake in Edgewise Therapeutics, Inc. by 5.4% in the first quarter, now holding approximately 2,458,808 shares valued at $54.09 million.
• Several institutional investors significantly raised their stakes in Edgewise, with Paradigm Biocapital Advisors increasing its holdings by 61.1% and Readystate Asset Management LP by 1,591.0%.
• Analysts have mixed ratings for Edgewise, with a consensus rating of "Moderate Buy" and an average price target of $40.55, although some analysts have set higher targets between $46.00 and $49.00.

Braidwell LP increased its position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,458,808 shares of the company's stock after purchasing an additional 126,612 shares during the period. Edgewise Therapeutics makes up about 1.9% of Braidwell LP's portfolio, making the stock its 21st biggest holding. Braidwell LP owned approximately 2.35% of Edgewise Therapeutics worth $54,094,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EWTX. Paradigm Biocapital Advisors LP raised its holdings in Edgewise Therapeutics by 61.1% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 4,493,929 shares of the company's stock valued at $119,988,000 after acquiring an additional 1,704,757 shares in the last quarter. Siren L.L.C. raised its holdings in Edgewise Therapeutics by 131.0% in the 1st quarter. Siren L.L.C. now owns 1,696,444 shares of the company's stock valued at $37,322,000 after acquiring an additional 962,101 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Edgewise Therapeutics by 9.3% in the 4th quarter. Janus Henderson Group PLC now owns 4,983,940 shares of the company's stock valued at $133,044,000 after acquiring an additional 425,421 shares in the last quarter. Readystate Asset Management LP raised its holdings in Edgewise Therapeutics by 1,591.0% in the 1st quarter. Readystate Asset Management LP now owns 361,233 shares of the company's stock valued at $7,947,000 after acquiring an additional 339,871 shares in the last quarter. Finally, Baker BROS. Advisors LP raised its holdings in Edgewise Therapeutics by 5.4% in the 4th 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 in the last quarter.

Insider Transactions at Edgewise Therapeutics

In related news, General Counsel John R. Moore sold 2,098 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total transaction of $28,092.22. Following the sale, the general counsel owned 10,214 shares in the company, valued at $136,765.46. The trade was a 17.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Alan J. Russell sold 100,000 shares of the business's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $14.60, for a total value of $1,460,000.00. Following the sale, the insider owned 23,400 shares in the company, valued at $341,640. This represents a 81.04% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,267 shares of company stock worth $1,677,815. 23.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Royal Bank Of Canada lifted their price objective on Edgewise Therapeutics from $48.00 to $49.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Raymond James Financial initiated coverage on Edgewise Therapeutics in a report on Wednesday, July 30th. They set a "strong-buy" rating and a $46.00 price target for the company. JPMorgan Chase & Co. lowered their price target on Edgewise Therapeutics from $40.00 to $30.00 and set an "overweight" rating for the company in a report on Tuesday, August 19th. Finally, HC Wainwright initiated coverage on Edgewise Therapeutics in a report on Monday, June 30th. They set a "buy" rating and a $42.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $40.55.

Edgewise Therapeutics Stock Down 2.0%

Shares of EWTX stock opened at $14.35 on Monday. The firm has a market capitalization of $1.51 billion, a P/E ratio of -9.26 and a beta of 0.26. Edgewise Therapeutics, Inc. has a twelve month low of $10.60 and a twelve month high of $38.12. The stock's fifty day simple moving average is $13.78 and its 200 day simple moving average is $16.63.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.34) earnings per share for the quarter, topping analysts' consensus estimates of ($0.42) by $0.08. As a group, equities research analysts expect that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Edgewise Therapeutics Company 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.

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