Walleye Capital LLC Purchases New Shares in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Walleye Capital LLC bought a new stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 242,251 shares of the company's stock, valued at approximately $6,466,000. Walleye Capital LLC owned about 0.26% of Edgewise Therapeutics as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of EWTX. Quest Partners LLC increased its holdings in shares of Edgewise Therapeutics by 156.9% during the second quarter. Quest Partners LLC now owns 1,742 shares of the company's stock valued at $31,000 after acquiring an additional 1,064 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Edgewise Therapeutics during the 2nd quarter valued at approximately $35,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Edgewise Therapeutics by 21.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company's stock worth $88,000 after buying an additional 604 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new stake in shares of Edgewise Therapeutics during the third quarter worth $161,000. Finally, US Bancorp DE grew its holdings in shares of Edgewise Therapeutics by 12,452.9% during the third quarter. US Bancorp DE now owns 8,536 shares of the company's stock valued at $228,000 after buying an additional 8,468 shares during the last quarter.

Insider Buying and Selling at Edgewise Therapeutics

In other news, General Counsel John R. Moore sold 20,922 shares of the firm's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $27.63, for a total transaction of $578,074.86. Following the completion of the transaction, the general counsel now directly owns 3,252 shares of the company's stock, valued at approximately $89,852.76. This trade represents a 86.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alan J. Russell sold 75,000 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $28.27, for a total transaction of $2,120,250.00. Following the completion of the transaction, the insider now directly owns 12,719 shares of the company's stock, valued at $359,566.13. This trade represents a 85.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 278,176 shares of company stock valued at $7,893,316 in the last ninety days. Company insiders own 24.11% of the company's stock.

Edgewise Therapeutics Trading Up 2.5 %

EWTX traded up $0.80 on Friday, hitting $33.00. 375,639 shares of the company's stock were exchanged, compared to its average volume of 640,163. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of -22.00 and a beta of 0.14. The firm has a 50-day moving average price of $31.92 and a 200-day moving average price of $23.25. Edgewise Therapeutics, Inc. has a fifty-two week low of $5.93 and a fifty-two week high of $38.12.

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

Wall Street Analyst Weigh In

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

Edgewise Therapeutics Company 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.