Woodline Partners LP Has $15.15 Million Holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Woodline Partners LP lifted its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 567,218 shares of the company's stock after purchasing an additional 39,379 shares during the period. Woodline Partners LP owned 0.60% of Edgewise Therapeutics worth $15,145,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Soleus Capital Management L.P. bought a new position in shares of Edgewise Therapeutics in the fourth quarter worth about $4,894,000. Squarepoint Ops LLC increased its stake in shares of Edgewise Therapeutics by 58.5% in the fourth quarter. Squarepoint Ops LLC now owns 26,358 shares of the company's stock worth $704,000 after purchasing an additional 9,729 shares during the period. Tang Capital Management LLC bought a new position in shares of Edgewise Therapeutics in the fourth quarter worth about $8,010,000. Stempoint Capital LP increased its stake in shares of Edgewise Therapeutics by 566.9% in the fourth quarter. Stempoint Capital LP now owns 132,706 shares of the company's stock worth $3,543,000 after purchasing an additional 112,806 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in shares of Edgewise Therapeutics in the fourth quarter worth about $2,845,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on EWTX shares. Scotiabank lowered Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the stock from $50.00 to $14.00 in a research note on Wednesday, April 2nd. Piper Sandler restated an "overweight" rating and set a $51.00 price target 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 set a "buy" rating and a $41.00 price target on the stock. Royal Bank of Canada lowered their price target on Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating on the stock in a research note on Thursday, April 3rd. Finally, Wedbush restated an "outperform" rating and set a $43.00 price target on shares of Edgewise Therapeutics in a research note on Monday, April 21st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $40.22.

Edgewise Therapeutics Stock Performance

NASDAQ EWTX traded up $0.34 during trading on Tuesday, reaching $14.55. 232,463 shares of the company traded hands, compared to its average volume of 1,490,345. The stock's 50 day moving average price is $15.62 and its two-hundred day moving average price is $23.94. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -9.70 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 released its quarterly earnings data on Thursday, May 8th. The company reported ($0.43) earnings per share for the quarter, beating analysts' consensus estimates of ($0.45) by $0.02. Equities research analysts expect that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Insider Buying and Selling at Edgewise Therapeutics

In related news, Director Orbimed Advisors Llc acquired 496,771 shares of the firm's stock in a transaction on Thursday, April 3rd. The shares were bought at an average cost of $20.13 per share, with a total value of $10,000,000.23. Following the completion of the acquisition, the director now owns 14,809,075 shares of the company's stock, valued at $298,106,679.75. This trade represents a 3.47% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alan J. Russell sold 1,551 shares of Edgewise Therapeutics stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $16.45, for a total value of $25,513.95. Following the sale, the insider now directly owns 18,521 shares in the company, valued at $304,670.45. The trade was a 7.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,258 shares of company stock valued at $234,544. 23.20% of the stock is currently owned by corporate insiders.

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.