Two Sigma Investments LP Sells 129,791 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Two Sigma Investments LP trimmed its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 49.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,667 shares of the company's stock after selling 129,791 shares during the period. Two Sigma Investments LP owned approximately 0.14% of Edgewise Therapeutics worth $3,516,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Summit Investment Advisors Inc. boosted its holdings in Edgewise Therapeutics by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,594 shares of the company's stock valued at $203,000 after purchasing an additional 482 shares during the period. Alliancebernstein L.P. boosted its position in Edgewise Therapeutics by 1.7% during the fourth quarter. Alliancebernstein L.P. now owns 77,260 shares of the company's stock valued at $2,063,000 after buying an additional 1,300 shares during the period. Diadema Partners LP bought a new position in shares of Edgewise Therapeutics during the fourth quarter valued at about $36,000. Rhumbline Advisers raised its stake in shares of Edgewise Therapeutics by 1.5% during the fourth quarter. Rhumbline Advisers now owns 102,397 shares of the company's stock valued at $2,734,000 after acquiring an additional 1,525 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Edgewise Therapeutics by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,313 shares of the company's stock valued at $1,103,000 after acquiring an additional 1,595 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on EWTX shares. Guggenheim assumed coverage on shares of Edgewise Therapeutics in a research note on Wednesday, April 30th. They issued a "buy" rating and a $41.00 price target for the company. Piper Sandler reaffirmed an "overweight" rating and set a $51.00 target price on shares of Edgewise Therapeutics in a research note on Wednesday, April 2nd. 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 note on Thursday, April 3rd. 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 note on Wednesday, April 2nd. Finally, Wedbush reaffirmed an "outperform" rating and set a $43.00 target price 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 given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $40.22.

Edgewise Therapeutics Trading Up 1.0%

EWTX stock traded up $0.15 on Tuesday, hitting $14.84. The company had a trading volume of 1,113,021 shares, compared to its average volume of 1,187,314. Edgewise Therapeutics, Inc. has a 12-month low of $10.60 and a 12-month high of $38.12. The stock's 50-day simple moving average is $14.57 and its 200 day simple moving average is $23.21. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -9.89 and a beta of 0.36.

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

Insiders Place Their Bets

In related news, CEO Kevin Koch sold 4,276 shares of Edgewise Therapeutics stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $16.45, for a total transaction of $70,340.20. Following the completion of the transaction, the chief executive officer now directly owns 20,619 shares of the company's stock, valued at approximately $339,182.55. The trade was a 17.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Joanne M. Donovan sold 5,187 shares of Edgewise Therapeutics stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $16.45, for a total transaction of $85,326.15. Following the transaction, the chief marketing officer now directly owns 21,588 shares of the company's stock, valued at approximately $355,122.60. This represents a 19.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,258 shares of company stock valued at $234,544 in the last three months. Corporate insiders own 23.20% of the company's stock.

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.