Moody Aldrich Partners LLC Purchases New Position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Moody Aldrich Partners LLC acquired a new stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 151,157 shares of the company’s stock, valued at approximately $4,034,000.

A number of other institutional investors have also recently added to or reduced their stakes in EWTX. Quest Partners LLC raised its holdings in shares of Edgewise Therapeutics by 156.9% during the 2nd quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock valued at $31,000 after purchasing an additional 1,064 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Edgewise Therapeutics during the second quarter valued at about $35,000. Ameritas Investment Partners Inc. lifted its position in shares of Edgewise Therapeutics by 37.3% in the first quarter. Ameritas Investment Partners Inc. now owns 5,751 shares of the company’s stock worth $105,000 after buying an additional 1,561 shares during the last quarter. Arizona State Retirement System bought a new stake in shares of Edgewise Therapeutics during the 2nd quarter worth about $188,000. Finally, Dark Forest Capital Management LP acquired a new position in shares of Edgewise Therapeutics during the 2nd quarter valued at about $193,000.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EWTX. Truist Financial boosted their price objective on shares of Edgewise Therapeutics from $25.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $32.00 price target on shares of Edgewise Therapeutics in a report on Tuesday, September 17th. Piper Sandler boosted their price objective on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Wedbush reiterated an “outperform” rating and issued a $31.00 target price on shares of Edgewise Therapeutics in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Edgewise Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Edgewise Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $35.60.

Insider Activity

In other news, insider Alan J. Russell sold 75,000 shares of Edgewise Therapeutics stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $28.27, for a total value of $2,120,250.00. Following the completion of the transaction, the insider now owns 12,719 shares of the company’s stock, valued at $359,566.13. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO R Michael Carruthers sold 125,092 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $28.57, for a total transaction of $3,573,878.44. Following the completion of the sale, the chief financial officer now owns 6,904 shares in the company, valued at approximately $197,247.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alan J. Russell sold 75,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $28.27, for a total transaction of $2,120,250.00. Following the completion of the transaction, the insider now owns 12,719 shares in the company, valued at approximately $359,566.13. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 278,176 shares of company stock worth $7,893,316 over the last three months. Corporate insiders own 24.11% of the company’s stock.

Edgewise Therapeutics Stock Up 2.9 %

Shares of Edgewise Therapeutics stock traded up $1.00 during trading on Thursday, reaching $35.81. 176,270 shares of the company were exchanged, compared to its average volume of 967,511. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of -22.46 and a beta of 0.20. The business has a 50-day moving average price of $24.22 and a 200-day moving average price of $20.19. Edgewise Therapeutics, Inc. has a twelve month low of $5.12 and a twelve month high of $36.66.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.02. On average, equities research analysts forecast that Edgewise Therapeutics, Inc. will post -1.47 EPS 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.