Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Shares Sold by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. lowered its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 16.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 157,579 shares of the company's stock after selling 29,921 shares during the period. Polar Asset Management Partners Inc. owned about 0.17% of Edgewise Therapeutics worth $4,206,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Parkman Healthcare Partners LLC boosted its holdings in shares of Edgewise Therapeutics by 14.4% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 657,070 shares of the company's stock valued at $17,537,000 after purchasing an additional 82,553 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Edgewise Therapeutics by 74.8% during the 3rd quarter. Janus Henderson Group PLC now owns 4,558,519 shares of the company's stock valued at $121,616,000 after buying an additional 1,951,220 shares in the last quarter. HighVista Strategies LLC bought a new position in shares of Edgewise Therapeutics during the 3rd quarter valued at approximately $2,371,000. Fred Alger Management LLC bought a new position in shares of Edgewise Therapeutics during the 3rd quarter valued at approximately $564,000. Finally, Braidwell LP purchased a new position in shares of Edgewise Therapeutics in the third quarter valued at $52,267,000.

Edgewise Therapeutics Price Performance

Shares of NASDAQ:EWTX traded down $0.49 during trading hours on Thursday, hitting $31.57. The company's stock had a trading volume of 1,046,180 shares, compared to its average volume of 932,541. The firm's fifty day moving average price is $32.26 and its 200 day moving average price is $23.54. Edgewise Therapeutics, Inc. has a 52 week low of $6.44 and a 52 week high of $38.12. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of -21.05 and a beta of 0.12.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.01. On average, equities research analysts predict that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $32.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. Piper Sandler boosted their target price on Edgewise Therapeutics from $48.00 to $51.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. JPMorgan Chase & Co. lifted their price objective on shares of Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an "overweight" rating in a research note on Monday, August 12th. Truist Financial increased their price objective on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Finally, Evercore ISI began coverage on Edgewise Therapeutics in a report on Friday, November 22nd. They issued an "outperform" rating and a $45.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $42.33.

Insiders Place Their Bets

In other Edgewise Therapeutics news, CFO R Michael Carruthers sold 125,092 shares of the business's stock in a transaction that occurred on 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 sale, the chief financial officer now owns 6,904 shares of the company's stock, valued at approximately $197,247.28. The trade was a 94.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel John R. Moore sold 20,922 shares of Edgewise Therapeutics stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $27.63, for a total transaction of $578,074.86. Following the sale, the general counsel now owns 3,252 shares of the company's stock, valued at $89,852.76. The trade was a 86.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 278,176 shares of company stock worth $7,893,316. 24.11% of the stock is owned by corporate insiders.

About Edgewise Therapeutics

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.