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

Moody Aldrich Partners LLC bought a new position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 151,157 shares of the company's stock, valued at approximately $4,034,000. Moody Aldrich Partners LLC owned approximately 0.16% of Edgewise Therapeutics as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. RA Capital Management L.P. bought a new position in Edgewise Therapeutics in the 1st quarter worth about $162,502,000. Novo Holdings A S purchased a new stake in shares of Edgewise Therapeutics in the second quarter worth about $114,263,000. Baker BROS. Advisors LP boosted its position in shares of Edgewise Therapeutics by 87.6% in the first quarter. Baker BROS. Advisors LP now owns 5,840,059 shares of the company's stock valued at $106,523,000 after acquiring an additional 2,727,273 shares during the period. Vanguard Group Inc. grew its stake in Edgewise Therapeutics by 89.0% during the first quarter. Vanguard Group Inc. now owns 4,017,433 shares of the company's stock valued at $73,278,000 after acquiring an additional 1,892,053 shares in the last quarter. Finally, Artal Group S.A. bought a new stake in Edgewise Therapeutics during the 1st quarter worth approximately $14,806,000.

Insider Activity at Edgewise Therapeutics

In other news, insider Alan J. Russell sold 75,000 shares of the firm's stock in a transaction that occurred on 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Alan J. Russell sold 75,000 shares of the firm's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $28.27, for a total value of $2,120,250.00. Following the sale, the insider now directly owns 12,719 shares of the company's stock, valued at $359,566.13. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO R Michael Carruthers sold 125,092 shares of the business's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $28.57, for a total value of $3,573,878.44. Following the transaction, the chief financial officer now owns 6,904 shares in the company, valued at approximately $197,247.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 278,176 shares of company stock worth $7,893,316 in the last ninety days. 24.11% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on EWTX shares. JPMorgan Chase & Co. raised their price target on shares of Edgewise Therapeutics from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Monday, August 12th. Wedbush reissued an "outperform" rating and set a $31.00 price objective on shares of Edgewise Therapeutics in a research note on Friday, August 16th. Truist Financial boosted their target price on Edgewise Therapeutics from $25.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Piper Sandler raised their price target on Edgewise Therapeutics from $48.00 to $51.00 and gave the company an "overweight" rating in a report on Friday, October 11th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $32.00 price objective on shares of Edgewise Therapeutics in a research report on Tuesday, September 17th. Five 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 target price of $35.60.

Edgewise Therapeutics Stock Performance

EWTX traded down $0.19 during midday trading on Thursday, hitting $34.62. The stock had a trading volume of 704,728 shares, compared to its average volume of 970,077. The company has a market cap of $3.23 billion, a P/E ratio of -22.67 and a beta of 0.20. Edgewise Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $36.66. The business has a fifty day moving average of $24.22 and a 200 day moving average of $20.19.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.34) EPS for the quarter, topping analysts' consensus estimates of ($0.36) by $0.02. On average, equities research analysts anticipate that Edgewise Therapeutics, Inc. will post -1.47 earnings per share for the current year.

Edgewise Therapeutics 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.