J. Goldman & Co LP Has $2.86 Million Stock Holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

J. Goldman & Co LP increased its holdings in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 82.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 107,278 shares of the company's stock after acquiring an additional 48,612 shares during the period. J. Goldman & Co LP owned about 0.11% of Edgewise Therapeutics worth $2,864,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in EWTX. First Light Asset Management LLC bought a new position in Edgewise Therapeutics during the 4th quarter valued at about $20,843,000. Foresite Capital Management VI LLC bought a new position in Edgewise Therapeutics during the 4th quarter valued at about $15,620,000. Janus Henderson Group PLC lifted its holdings in Edgewise Therapeutics by 9.3% during the 4th quarter. Janus Henderson Group PLC now owns 4,983,940 shares of the company's stock valued at $133,044,000 after purchasing an additional 425,421 shares during the last quarter. Braidwell LP lifted its holdings in Edgewise Therapeutics by 19.1% during the 4th quarter. Braidwell LP now owns 2,332,196 shares of the company's stock valued at $62,270,000 after purchasing an additional 373,886 shares during the last quarter. Finally, Baker BROS. Advisors LP lifted its holdings in Edgewise Therapeutics by 5.4% during the 4th quarter. Baker BROS. Advisors LP now owns 6,155,940 shares of the company's stock valued at $164,364,000 after purchasing an additional 315,881 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Edgewise Therapeutics in a research note on Wednesday, January 22nd. They issued a "hold" rating and a $30.00 target price for the company. Piper Sandler reaffirmed an "overweight" rating and issued a $51.00 target price on shares of Edgewise Therapeutics in a research note on Wednesday, April 2nd. Scotiabank downgraded shares of Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the stock from $50.00 to $14.00 in a research note on Wednesday, April 2nd. Wedbush reaffirmed an "outperform" rating and issued a $43.00 target price on shares of Edgewise Therapeutics in a research note on Monday, April 21st. Finally, Royal Bank of Canada dropped 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. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $40.22.

Insider Activity

In related news, Director Orbimed Advisors Llc acquired 496,771 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The shares were acquired at an average cost of $20.13 per share, with a total value of $10,000,000.23. Following the transaction, the director now owns 14,809,075 shares of the company's stock, valued at $298,106,679.75. The trade was a 3.47% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alan J. Russell sold 1,551 shares of the business'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 $25,513.95. Following the sale, the insider now directly owns 18,521 shares in the company, valued at $304,670.45. This trade represents a 7.73% 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 quarter. Company insiders own 24.11% of the company's stock.

Edgewise Therapeutics Stock Performance

EWTX traded down $0.10 during trading on Thursday, reaching $14.45. 1,126,431 shares of the company's stock were exchanged, compared to its average volume of 1,165,485. The company's fifty day moving average price is $17.48 and its 200-day moving average price is $25.21. Edgewise Therapeutics, Inc. has a fifty-two week low of $10.60 and a fifty-two week high of $38.12. The firm has a market capitalization of $1.51 billion, a PE ratio of -9.63 and a beta of 0.36.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating 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 fiscal year.

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.