Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Shares Sold by Walleye Capital LLC

Walleye Capital LLC lowered its holdings in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 18.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 198,662 shares of the company's stock after selling 43,589 shares during the period. Walleye Capital LLC owned about 0.21% of Edgewise Therapeutics worth $5,304,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of Edgewise Therapeutics by 12.0% during the fourth quarter. Barclays PLC now owns 133,657 shares of the company's stock valued at $3,568,000 after acquiring an additional 14,307 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in shares of Edgewise Therapeutics by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,594 shares of the company's stock valued at $203,000 after buying an additional 482 shares during the period. Optimize Financial Inc bought a new stake in Edgewise Therapeutics in the fourth quarter valued at $322,000. Kennedy Capital Management LLC raised its stake in Edgewise Therapeutics by 4.2% in the fourth quarter. Kennedy Capital Management LLC now owns 236,642 shares of the company's stock worth $6,318,000 after buying an additional 9,619 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in Edgewise Therapeutics by 5.7% in the fourth quarter. Legal & General Group Plc now owns 50,292 shares of the company's stock worth $1,343,000 after buying an additional 2,734 shares during the period.

Insider Activity

In other news, Director Orbimed Advisors Llc acquired 496,771 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The shares were bought at an average price of $20.13 per share, with a total value of $10,000,000.23. Following the completion of the purchase, the director now directly owns 14,809,075 shares in the company, valued at $298,106,679.75. This trade represents a 3.47 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kevin Koch sold 8,636 shares of Edgewise Therapeutics stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $30.03, for a total value of $259,339.08. Following the completion of the sale, the chief executive officer now owns 14,478 shares of the company's stock, valued at $434,774.34. The trade was a 37.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,836 shares of company stock worth $986,245 over the last 90 days. Corporate insiders own 24.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Royal Bank of Canada dropped their price target on Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating on the stock in a research report on Thursday, April 3rd. 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. Scotiabank downgraded 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 report on Wednesday, April 2nd. Wedbush reaffirmed an "outperform" rating and issued a $43.00 price target on shares of Edgewise Therapeutics in a research report on Monday. Finally, Stifel Nicolaus started coverage on shares of Edgewise Therapeutics in a research report on Wednesday, January 22nd. They set a "hold" rating and a $30.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.13.

Edgewise Therapeutics Price Performance

Shares of EWTX traded up $0.50 on Tuesday, reaching $13.80. The company's stock had a trading volume of 187,502 shares, compared to its average volume of 1,137,939. Edgewise Therapeutics, Inc. has a 12-month low of $10.60 and a 12-month high of $38.12. The stock has a market capitalization of $1.45 billion, a P/E ratio of -9.18 and a beta of 0.32. The stock's 50 day simple moving average is $21.20 and its two-hundred day simple moving average is $27.20.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last released its earnings results on Monday, March 3rd. The company reported ($0.42) EPS for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.03). Analysts expect that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current 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.