Trexquant Investment LP Invests $2 Million in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Trexquant Investment LP bought a new position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 74,781 shares of the company's stock, valued at approximately $1,997,000. Trexquant Investment LP owned about 0.08% of Edgewise Therapeutics as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP bought a new stake in Edgewise Therapeutics during the fourth quarter worth $103,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Edgewise Therapeutics during the 4th quarter valued at $182,000. AlphaCentric Advisors LLC bought a new stake in shares of Edgewise Therapeutics during the 4th quarter worth $275,000. Teacher Retirement System of Texas boosted its holdings in shares of Edgewise Therapeutics by 18.9% in the 4th quarter. Teacher Retirement System of Texas now owns 11,143 shares of the company's stock worth $298,000 after buying an additional 1,772 shares during the last quarter. Finally, Orion Portfolio Solutions LLC bought a new position in Edgewise Therapeutics during the third quarter valued at about $347,000.

Insider Transactions at Edgewise Therapeutics

In other Edgewise Therapeutics news, Director Orbimed Advisors Llc acquired 496,771 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was bought at an average price of $20.13 per share, with a total value of $10,000,000.23. Following the completion of the acquisition, the director now owns 14,809,075 shares of the company's stock, valued at $298,106,679.75. This trade represents a 3.47 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Alan J. Russell sold 1,200 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $30.13, for a total transaction of $36,156.00. Following the completion of the sale, the insider now directly owns 14,863 shares in the company, valued at $447,822.19. This represents a 7.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,836 shares of company stock valued at $986,245. 24.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on EWTX shares. Scotiabank lowered shares of Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $50.00 to $14.00 in a research report on Wednesday, April 2nd. Evercore ISI lifted their price target on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an "outperform" rating in a report on Tuesday, December 17th. Stifel Nicolaus assumed coverage on Edgewise Therapeutics in a report on Wednesday, January 22nd. They set a "hold" rating and a $30.00 price objective for the company. Piper Sandler restated an "overweight" rating and issued a $51.00 target price on shares of Edgewise Therapeutics in a research note on Wednesday, April 2nd. Finally, Royal Bank of Canada cut their price target on Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating for the company in a research note on Thursday, April 3rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Edgewise Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $40.38.

Edgewise Therapeutics Stock Performance

NASDAQ EWTX traded up $0.29 during trading hours on Monday, hitting $11.71. The company had a trading volume of 72,925 shares, compared to its average volume of 1,119,579. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -7.81 and a beta of 0.32. Edgewise Therapeutics, Inc. has a 52 week low of $10.60 and a 52 week high of $38.12. The firm has a 50 day simple moving average of $22.90 and a 200 day simple moving average of $27.79.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.03). On average, research analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 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.