Braidwell LP Has $81.14 Million Stake in Edgewise Therapeutics, Inc. $EWTX

Braidwell LP cut its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 14.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,996,965 shares of the company’s stock after selling 350,618 shares during the quarter. Edgewise Therapeutics accounts for approximately 3.0% of Braidwell LP’s holdings, making the stock its 6th largest position. Braidwell LP’s holdings in Edgewise Therapeutics were worth $81,137,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of EWTX. Optimize Financial Inc boosted its holdings in Edgewise Therapeutics by 1.5% in the 4th quarter. Optimize Financial Inc now owns 27,679 shares of the company’s stock valued at $687,000 after purchasing an additional 396 shares during the period. Parallel Advisors LLC increased its holdings in shares of Edgewise Therapeutics by 64.9% during the first quarter. Parallel Advisors LLC now owns 1,032 shares of the company’s stock worth $33,000 after purchasing an additional 406 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in shares of Edgewise Therapeutics by 23.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,854 shares of the company’s stock worth $71,000 after purchasing an additional 550 shares during the period. California State Teachers Retirement System raised its position in shares of Edgewise Therapeutics by 2.4% in the second quarter. California State Teachers Retirement System now owns 36,878 shares of the company’s stock valued at $483,000 after buying an additional 850 shares in the last quarter. Finally, AlphaCentric Advisors LLC raised its position in shares of Edgewise Therapeutics by 6.2% in the first quarter. AlphaCentric Advisors LLC now owns 15,615 shares of the company’s stock valued at $492,000 after buying an additional 912 shares in the last quarter.

Wall Street Analysts Forecast Growth

EWTX has been the topic of a number of analyst reports. Evercore reissued an “outperform” rating and set a $55.00 price target on shares of Edgewise Therapeutics in a research report on Monday, July 20th. Truist Financial set a $52.00 price objective on Edgewise Therapeutics in a report on Wednesday, May 6th. Leerink Partners set a $52.00 target price on Edgewise Therapeutics in a research report on Tuesday, June 16th. Guggenheim boosted their price target on Edgewise Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $45.00 price objective on shares of Edgewise Therapeutics in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Edgewise Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.33.

Edgewise Therapeutics Trading Down 0.6%

NASDAQ EWTX opened at $41.98 on Thursday. The firm’s 50 day simple moving average is $42.17 and its 200 day simple moving average is $35.99. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of -22.69 and a beta of 0.32. Edgewise Therapeutics, Inc. has a 1 year low of $13.69 and a 1 year high of $48.40.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.06). On average, equities research analysts forecast that Edgewise Therapeutics, Inc. will post -2.09 earnings per share for the current year.

Insiders Place Their Bets

In related news, General Counsel John R. Moore sold 5,016 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $43.82, for a total transaction of $219,801.12. Following the completion of the sale, the general counsel directly owned 17,697 shares in the company, valued at $775,482.54. This represents a 22.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alan J. Russell sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $39.41, for a total value of $7,882,000.00. Following the completion of the sale, the insider directly owned 24,555 shares in the company, valued at $967,712.55. This trade represents a 89.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 238,329 shares of company stock worth $9,557,529. 21.30% of the stock is currently owned by company insiders.

Edgewise Therapeutics Profile

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.