Odyssean LLC Makes New Investment in Edgewise Therapeutics, Inc. $EWTX

Odyssean LLC purchased a new position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,867 shares of the company’s stock, valued at approximately $726,000.

Several other institutional investors have also recently made changes to their positions in EWTX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Edgewise Therapeutics by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,776 shares of the company’s stock valued at $963,000 after acquiring an additional 2,463 shares in the last quarter. Jones Financial Companies Lllp bought a new position in Edgewise Therapeutics during the 1st quarter worth about $47,000. Goldman Sachs Group Inc. increased its position in Edgewise Therapeutics by 5.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 366,644 shares of the company’s stock valued at $8,066,000 after purchasing an additional 19,753 shares during the period. Strs Ohio purchased a new position in Edgewise Therapeutics during the 1st quarter valued at about $84,000. Finally, Creative Planning increased its position in Edgewise Therapeutics by 29.4% during the 2nd quarter. Creative Planning now owns 16,910 shares of the company’s stock valued at $222,000 after purchasing an additional 3,837 shares during the period.

Edgewise Therapeutics Stock Performance

Edgewise Therapeutics stock opened at $44.38 on Thursday. The stock has a 50-day moving average of $41.73 and a two-hundred day moving average of $35.55. Edgewise Therapeutics, Inc. has a one year low of $13.69 and a one year high of $48.40. The stock has a market cap of $4.82 billion, a PE ratio of -23.99 and a beta of 0.30.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.06). As a group, sell-side analysts predict that Edgewise Therapeutics, Inc. will post -2.09 EPS for the current fiscal year.

Insider Activity at Edgewise Therapeutics

In related news, CEO Kevin Koch sold 17,971 shares of Edgewise Therapeutics stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $43.68, for a total value of $784,973.28. Following the completion of the sale, the chief executive officer directly owned 52,488 shares in the company, valued at $2,292,675.84. This trade represents a 25.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel John R. Moore sold 5,016 shares of the business’s stock in a transaction that occurred 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 sale, the general counsel directly owned 17,697 shares in the company, valued at approximately $775,482.54. This represents a 22.08% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 238,329 shares of company stock valued at $9,557,529. Company insiders own 21.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wedbush upped their price target on shares of Edgewise Therapeutics from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Guggenheim lifted their price objective on shares of Edgewise Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a report on Monday, July 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Friday, July 17th. Raymond James Financial restated a “strong-buy” rating and set a $66.00 target price on shares of Edgewise Therapeutics in a report on Monday, June 1st. Finally, JPMorgan Chase & Co. increased their target price on Edgewise Therapeutics from $53.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $50.33.

Edgewise Therapeutics Company 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.