10,316 Shares in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Acquired by AlphaCentric Advisors LLC

AlphaCentric Advisors LLC bought a new position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 10,316 shares of the company’s stock, valued at approximately $275,000.

Several other large investors have also recently bought and sold shares of EWTX. Braidwell LP bought a new position in shares of Edgewise Therapeutics in the third quarter worth $52,267,000. Janus Henderson Group PLC grew its position in Edgewise Therapeutics by 74.8% during the third quarter. Janus Henderson Group PLC now owns 4,558,519 shares of the company’s stock worth $121,616,000 after buying an additional 1,951,220 shares in the last quarter. abrdn plc bought a new position in Edgewise Therapeutics in the 3rd quarter worth about $6,850,000. Walleye Capital LLC purchased a new stake in shares of Edgewise Therapeutics in the 3rd quarter valued at about $6,466,000. Finally, Ally Bridge Group NY LLC bought a new stake in shares of Edgewise Therapeutics during the 3rd quarter valued at about $5,010,000.

Edgewise Therapeutics Stock Performance

EWTX stock opened at $25.39 on Monday. The company has a market capitalization of $2.40 billion, a PE ratio of -16.93 and a beta of 0.20. Edgewise Therapeutics, Inc. has a one year low of $14.90 and a one year high of $38.12. The company’s 50 day moving average price is $27.85 and its two-hundred day moving average price is $27.00.

Analyst Upgrades and Downgrades

EWTX has been the topic of several research analyst reports. Stifel Nicolaus began coverage on shares of Edgewise Therapeutics in a research report on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 price objective on the stock. Evercore ISI boosted their price target on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Wedbush raised their price objective on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Truist Financial lifted their price objective on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.29.

Insider Activity at Edgewise Therapeutics

In related news, insider Alan J. Russell sold 1,200 shares of Edgewise Therapeutics stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $30.13, for a total value of $36,156.00. Following the transaction, the insider now directly owns 14,863 shares of the company’s stock, valued at $447,822.19. The trade was a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Marc Semigran sold 29,709 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $29.69, for a total transaction of $882,060.21. Following the sale, the insider now owns 6,716 shares of the company’s stock, valued at $199,398.04. This represents a 81.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,545 shares of company stock valued at $4,605,305. Insiders own 24.11% of the company’s stock.

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.