State of New Jersey Common Pension Fund D Buys Shares of 17,978 Edgewise Therapeutics, Inc. $EWTX

State of New Jersey Common Pension Fund D bought a new position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 17,978 shares of the company’s stock, valued at approximately $446,000.

Several other institutional investors also recently modified their holdings of EWTX. Bessemer Group Inc. lifted its stake in shares of Edgewise Therapeutics by 1,170.3% in the 3rd quarter. Bessemer Group Inc. now owns 2,350 shares of the company’s stock valued at $38,000 after acquiring an additional 2,165 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Edgewise Therapeutics during the second quarter worth about $45,000. Jones Financial Companies Lllp acquired a new position in shares of Edgewise Therapeutics in the first quarter valued at approximately $47,000. Strs Ohio bought a new position in Edgewise Therapeutics in the 1st quarter valued at approximately $84,000. Finally, BNP Paribas Financial Markets raised its holdings in Edgewise Therapeutics by 48.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 8,193 shares of the company’s stock valued at $107,000 after buying an additional 2,689 shares during the last quarter.

Insider Buying and Selling at Edgewise Therapeutics

In related news, CMO Joanne M. Donovan sold 50,000 shares of Edgewise Therapeutics stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $38.57, for a total transaction of $1,928,500.00. Following the completion of the transaction, the chief marketing officer owned 4,367 shares of the company’s stock, valued at $168,435.19. This trade represents a 91.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 83,892 shares of company stock worth $3,018,216 in the last ninety days. Corporate insiders own 23.20% of the company’s stock.

Edgewise Therapeutics Price Performance

Shares of EWTX stock opened at $34.56 on Tuesday. The stock has a market capitalization of $3.71 billion, a PE ratio of -20.82 and a beta of 0.25. The business’s 50 day simple moving average is $31.72 and its 200 day simple moving average is $27.09. Edgewise Therapeutics, Inc. has a one year low of $12.15 and a one year high of $39.96.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.04. As a group, research analysts expect that Edgewise Therapeutics, Inc. will post -2.15 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. HC Wainwright raised shares of Edgewise Therapeutics to a “strong-buy” rating in a report on Thursday, February 26th. Raymond James Financial set a $46.00 price target on shares of Edgewise Therapeutics in a research note on Tuesday, March 10th. Truist Financial set a $52.00 price target on shares of Edgewise Therapeutics in a report on Wednesday, May 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Monday, April 20th. Finally, Piper Sandler restated an “overweight” rating on shares of Edgewise Therapeutics in a report on Monday, February 9th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Edgewise Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $39.67.

About Edgewise Therapeutics

Edgewise Therapeutics, Inc (NASDAQ: EWTX) is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the discovery and development of precision medicines for the treatment of rare diseases. The company leverages its expertise in small-molecule chemistry and ion channel biology to address severe, unmet medical needs, particularly in the areas of kidney disorders and neuromuscular diseases.

At the core of Edgewise’s pipeline is EWTX-101, a novel, orally available inhibitor of TRPC5, a calcium channel implicated in nephrotic syndromes such as focal segmental glomerulosclerosis (FSGS) and other proteinuric kidney diseases.