Moody Aldrich Partners LLC Has $1.07 Million Holdings in Edgewise Therapeutics, Inc. $EWTX

Key Points

• Moody Aldrich Partners LLC reduced its stake in Edgewise by 48%, selling 39,807 shares and now holding 43,134 shares valued at $1.07 million per its latest SEC filing.
• Chief Medical Officer Joanne M. Donovan sold 28,662 shares on April 1 for about $926,069, and corporate insiders collectively own 23.20% of the company.
• Edgewise shares opened at $30.45, trade near a 52‑week high of $35.00, the company has a market cap of $3.27 billion, and analysts have a consensus "Moderate Buy" with a $38.13 price target.

Moody Aldrich Partners LLC cut its stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 48.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,134 shares of the company's stock after selling 39,807 shares during the period. Moody Aldrich Partners LLC's holdings in Edgewise Therapeutics were worth $1,070,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. raised its position in shares of Edgewise Therapeutics by 1,170.3% during the third quarter. Bessemer Group Inc. now owns 2,350 shares of the company's stock valued at $38,000 after buying an additional 2,165 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Edgewise Therapeutics during the second quarter worth about $45,000. Jones Financial Companies Lllp bought a new position in Edgewise Therapeutics during the first quarter valued at about $47,000. Strs Ohio bought a new position in Edgewise Therapeutics during the first quarter valued at about $84,000. Finally, BNP Paribas Financial Markets raised its holdings in Edgewise Therapeutics by 48.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 8,193 shares of the company's stock valued at $107,000 after acquiring an additional 2,689 shares in the last quarter.

Edgewise Therapeutics Stock Performance

Shares of NASDAQ:EWTX opened at $30.45 on Thursday. The company's fifty day moving average is $31.08 and its 200-day moving average is $26.17. Edgewise Therapeutics, Inc. has a 52 week low of $12.15 and a 52 week high of $35.00. The company has a market capitalization of $3.27 billion, a PE ratio of -18.68 and a beta of 0.24.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its earnings results on Thursday, February 26th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.04). On average, analysts forecast that Edgewise Therapeutics, Inc. will post -2.16 EPS for the current year.

Insiders Place Their Bets

In other news, CMO Joanne M. Donovan sold 28,662 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $32.31, for a total transaction of $926,069.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 23.20% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Piper Sandler reissued an "overweight" rating on shares of Edgewise Therapeutics in a report on Monday, February 9th. HC Wainwright upgraded Edgewise Therapeutics to a "strong-buy" rating in a research note on Thursday, February 26th. Raymond James Financial set a $46.00 target price on Edgewise Therapeutics in a research report on Tuesday, March 10th. Wall Street Zen lowered shares of Edgewise Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, February 28th. Finally, Evercore restated an "outperform" rating and issued a $45.00 price objective on shares of Edgewise Therapeutics in a research note on Thursday, February 26th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.13.

Edgewise Therapeutics 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.

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