Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Shares Sold by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. reduced its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 59.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,279 shares of the company's stock after selling 93,300 shares during the period. Polar Asset Management Partners Inc. owned approximately 0.07% of Edgewise Therapeutics worth $1,716,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in EWTX. Diadema Partners LP acquired a new stake in shares of Edgewise Therapeutics during the fourth quarter worth $36,000. GF Fund Management CO. LTD. acquired a new stake in shares of Edgewise Therapeutics during the fourth quarter worth $53,000. Aquatic Capital Management LLC acquired a new stake in shares of Edgewise Therapeutics during the fourth quarter worth $77,000. Tower Research Capital LLC TRC lifted its stake in shares of Edgewise Therapeutics by 1,097.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,676 shares of the company's stock worth $98,000 after buying an additional 3,369 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of Edgewise Therapeutics during the fourth quarter worth $103,000.

Insider Buying and Selling at Edgewise Therapeutics

In other Edgewise Therapeutics news, insider Alan J. Russell sold 1,551 shares of Edgewise Therapeutics stock in a transaction 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 completion of the transaction, the insider now owns 18,521 shares of the company's stock, valued at approximately $304,670.45. The trade was a 7.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel John R. Moore sold 1,930 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $16.45, for a total transaction of $31,748.50. Following the transaction, the general counsel now owns 6,531 shares of the company's stock, valued at approximately $107,434.95. This trade represents a 22.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,258 shares of company stock valued at $234,544. Corporate insiders own 23.20% of the company's stock.

Edgewise Therapeutics Trading Down 2.3%

EWTX traded down $0.33 on Wednesday, reaching $13.99. The stock had a trading volume of 797,753 shares, compared to its average volume of 1,181,528. Edgewise Therapeutics, Inc. has a 12-month low of $10.60 and a 12-month high of $38.12. The business's 50-day moving average price is $15.24 and its two-hundred day moving average price is $23.81. The company has a market cap of $1.47 billion, a P/E ratio of -9.33 and a beta of 0.36.

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. As a group, analysts predict that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

Analyst Ratings Changes

EWTX has been the subject of several research reports. Wedbush reiterated an "outperform" rating and set a $43.00 price objective on shares of Edgewise Therapeutics in a research note on Monday, April 21st. Scotiabank downgraded shares of Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the company from $50.00 to $14.00 in a research report on Wednesday, April 2nd. Guggenheim began coverage on shares of Edgewise Therapeutics in a research report on Wednesday, April 30th. They set a "buy" rating and a $41.00 target price for the company. Piper Sandler restated an "overweight" rating and set a $51.00 target price on shares of Edgewise Therapeutics in a research report on Wednesday, April 2nd. Finally, Royal Bank of Canada decreased their target price on shares of Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating for the company in a research report on Thursday, April 3rd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.22.

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.