Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Shares Sold by DAFNA Capital Management LLC

DAFNA Capital Management LLC lowered its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 17.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 187,140 shares of the company’s stock after selling 40,766 shares during the period. Edgewise Therapeutics comprises approximately 1.3% of DAFNA Capital Management LLC’s investment portfolio, making the stock its 22nd biggest position. DAFNA Capital Management LLC owned approximately 0.20% of Edgewise Therapeutics worth $4,997,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Deerfield Management Company L.P. Series C raised its stake in shares of Edgewise Therapeutics by 16.7% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 2,078,509 shares of the company’s stock worth $55,496,000 after buying an additional 297,503 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Edgewise Therapeutics during the fourth quarter worth $5,862,000. Braidwell LP lifted its holdings in Edgewise Therapeutics by 19.1% during the fourth quarter. Braidwell LP now owns 2,332,196 shares of the company’s stock valued at $62,270,000 after purchasing an additional 373,886 shares in the last quarter. Brevan Howard Capital Management LP grew its position in shares of Edgewise Therapeutics by 125.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 25,346 shares of the company’s stock valued at $677,000 after purchasing an additional 14,095 shares during the period. Finally, Baker BROS. Advisors LP increased its stake in shares of Edgewise Therapeutics by 5.4% during the fourth quarter. Baker BROS. Advisors LP now owns 6,155,940 shares of the company’s stock worth $164,364,000 after purchasing an additional 315,881 shares in the last quarter.

Edgewise Therapeutics Price Performance

Edgewise Therapeutics stock opened at $14.51 on Thursday. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of -9.67 and a beta of 0.36. Edgewise Therapeutics, Inc. has a 1-year low of $10.60 and a 1-year high of $38.12. The firm has a 50 day simple moving average of $18.67 and a 200-day simple moving average of $25.90.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results on Monday, March 3rd. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.03). Equities analysts expect that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Insider Transactions at Edgewise Therapeutics

In related news, Director Orbimed Advisors Llc acquired 496,771 shares of Edgewise Therapeutics stock in a transaction dated Thursday, April 3rd. The shares were acquired at an average cost of $20.13 per share, for a total transaction of $10,000,000.23. Following the completion of the purchase, the director now owns 14,809,075 shares in the company, valued at approximately $298,106,679.75. The trade was a 3.47 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin Koch sold 4,276 shares of the business’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $16.45, for a total value of $70,340.20. Following the transaction, the chief executive officer now directly owns 20,619 shares of the company’s stock, valued at $339,182.55. The trade was a 17.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,258 shares of company stock worth $234,544. 24.11% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on EWTX. Piper Sandler reiterated an “overweight” rating and issued a $51.00 price objective on shares of Edgewise Therapeutics in a report on Wednesday, April 2nd. Wedbush reaffirmed an “outperform” rating and issued a $43.00 price target on shares of Edgewise Therapeutics in a research note on Monday, April 21st. Royal Bank of Canada decreased their price objective on Edgewise Therapeutics from $56.00 to $52.00 and set an “outperform” rating on the stock in a report on Thursday, April 3rd. Guggenheim assumed coverage on shares of Edgewise Therapeutics in a report on Wednesday, April 30th. They set a “buy” rating and a $41.00 target price for the company. Finally, Stifel Nicolaus started coverage on shares of Edgewise Therapeutics in a research note on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.22.

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.