Edgewise Therapeutics, Inc. $EWTX Shares Acquired by Siren L.L.C.

Key Points

• Siren L.L.C. significantly increased its stake in Edgewise Therapeutics by 131.0% during the first quarter, now owning approximately 1.61% of the company valued at $37.32 million.
• Edgewise Therapeutics' stock has shown moderate growth, with a recent price of $14.65, alongside a PE ratio of -9.45 and a market capitalization of $1.54 billion.
• Analysts are optimistic about the stock's future, with an average price target of $40.55 and one "Strong Buy" rating among others, indicating potential growth opportunities for investors.

Siren L.L.C. boosted its stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 131.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,696,444 shares of the company's stock after acquiring an additional 962,101 shares during the period. Edgewise Therapeutics comprises approximately 2.2% of Siren L.L.C.'s portfolio, making the stock its 14th largest position. Siren L.L.C. owned approximately 1.61% of Edgewise Therapeutics worth $37,322,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EWTX. GF Fund Management CO. LTD. purchased a new stake in Edgewise Therapeutics in the fourth quarter valued at $53,000. Caitong International Asset Management Co. Ltd lifted its position in Edgewise Therapeutics by 55.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 3,194 shares of the company's stock valued at $70,000 after acquiring an additional 1,141 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in Edgewise Therapeutics in the fourth quarter valued at $77,000. Tower Research Capital LLC TRC lifted its position in Edgewise Therapeutics by 1,097.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,676 shares of the company's stock valued at $98,000 after acquiring an additional 3,369 shares during the last quarter. Finally, AlphaQuest LLC lifted its position in Edgewise Therapeutics by 324.8% in the first quarter. AlphaQuest LLC now owns 9,358 shares of the company's stock valued at $206,000 after acquiring an additional 7,155 shares during the last quarter.

Insider Activity

In other news, insider Alan J. Russell sold 100,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $14.60, for a total transaction of $1,460,000.00. Following the transaction, the insider directly owned 23,400 shares in the company, valued at $341,640. The trade was a 81.04% 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, CEO Kevin Koch sold 7,972 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total transaction of $106,745.08. Following the transaction, the chief executive officer owned 30,615 shares in the company, valued at approximately $409,934.85. This trade represents a 20.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,267 shares of company stock valued at $1,677,815. 23.20% of the stock is owned by insiders.

Edgewise Therapeutics Stock Performance

NASDAQ EWTX traded down $0.30 during trading on Friday, reaching $14.35. The company's stock had a trading volume of 670,556 shares, compared to its average volume of 732,662. The firm has a market cap of $1.51 billion, a price-to-earnings 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 business's fifty day moving average price is $13.78 and its 200-day moving average price is $16.63.

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

Wall Street Analysts Forecast Growth

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

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.