Readystate Asset Management LP Boosts Stock Position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Readystate Asset Management LP boosted its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 1,591.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 361,233 shares of the company's stock after buying an additional 339,871 shares during the quarter. Readystate Asset Management LP owned approximately 0.34% of Edgewise Therapeutics worth $7,947,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Diadema Partners LP purchased a new position in shares of Edgewise Therapeutics during the fourth quarter worth about $36,000. GF Fund Management CO. LTD. purchased a new position in shares of Edgewise Therapeutics during the fourth quarter worth about $53,000. Aquatic Capital Management LLC purchased a new position in shares of Edgewise Therapeutics during the fourth quarter worth about $77,000. Tower Research Capital LLC TRC grew its holdings 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 last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Edgewise Therapeutics during the fourth quarter worth about $103,000.

Insiders Place Their Bets

In other Edgewise Therapeutics news, General Counsel John R. Moore sold 1,930 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $16.45, for a total value of $31,748.50. Following the completion of the transaction, the general counsel directly owned 6,531 shares in the company, valued at approximately $107,434.95. The trade was a 22.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kevin Koch sold 4,276 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $16.45, for a total transaction of $70,340.20. Following the sale, the chief executive officer directly owned 20,619 shares of the company's stock, valued at $339,182.55. This represents a 17.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,258 shares of company stock valued at $234,544. Insiders own 23.20% of the company's stock.

Edgewise Therapeutics Trading Up 1.1%

Shares of NASDAQ:EWTX traded up $0.15 during midday trading on Tuesday, hitting $13.54. 68,366 shares of the stock were exchanged, compared to its average volume of 1,175,825. The stock has a market cap of $1.42 billion, a P/E ratio of -8.71 and a beta of 0.25. Edgewise Therapeutics, Inc. has a twelve month low of $10.60 and a twelve month high of $38.12. The company has a 50 day moving average price of $14.22 and a 200-day moving average price of $19.38.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.02. On average, equities research analysts expect that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EWTX. Scotiabank lowered Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and lowered their price target for the stock from $50.00 to $14.00 in a report on Wednesday, April 2nd. Piper Sandler restated an "overweight" rating and issued a $51.00 price objective on shares of Edgewise Therapeutics 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 issued a "buy" rating and a $41.00 price objective for the company. Wedbush restated an "outperform" rating and issued a $43.00 price objective on shares of Edgewise Therapeutics in a research report on Monday, April 21st. Finally, HC Wainwright began coverage on shares of Edgewise Therapeutics in a research report on Monday, June 30th. They issued a "buy" rating and a $42.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Edgewise Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.00.

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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