Braidwell LP Makes New $52.27 Million Investment in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Braidwell LP acquired a new position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,958,310 shares of the company’s stock, valued at approximately $52,267,000. Edgewise Therapeutics accounts for about 1.5% of Braidwell LP’s holdings, making the stock its 27th largest holding. Braidwell LP owned approximately 2.07% of Edgewise Therapeutics at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Walleye Capital LLC acquired a new position in Edgewise Therapeutics during the third quarter valued at $6,466,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Edgewise Therapeutics by 5.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 84,294 shares of the company’s stock worth $2,250,000 after purchasing an additional 4,426 shares in the last quarter. Ally Bridge Group NY LLC purchased a new stake in shares of Edgewise Therapeutics during the third quarter worth about $5,010,000. Acuta Capital Partners LLC purchased a new stake in shares of Edgewise Therapeutics during the third quarter worth about $1,681,000. Finally, Glenmede Trust Co. NA purchased a new stake in Edgewise Therapeutics during the 3rd quarter valued at about $483,000.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $32.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. Evercore ISI assumed coverage on shares of Edgewise Therapeutics in a report on Friday, November 22nd. They issued an “outperform” rating and a $45.00 target price on the stock. Wedbush boosted their target price on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Piper Sandler boosted their target price on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Truist Financial boosted their target price on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $42.33.

Edgewise Therapeutics Stock Performance

Shares of EWTX stock opened at $32.20 on Friday. Edgewise Therapeutics, Inc. has a one year low of $5.93 and a one year high of $38.12. The firm’s 50 day moving average price is $31.77 and its 200-day moving average price is $23.04.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, November 7th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.01. On average, research analysts forecast that Edgewise Therapeutics, Inc. will post -1.46 earnings per share for the current year.

Insider Buying and Selling at Edgewise Therapeutics

In related news, CFO R Michael Carruthers sold 125,092 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $28.57, for a total value of $3,573,878.44. Following the sale, the chief financial officer now directly owns 6,904 shares of the company’s stock, valued at $197,247.28. This represents a 94.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Joanne M. Donovan sold 7,162 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $28.29, for a total transaction of $202,612.98. Following the sale, the chief marketing officer now owns 14,538 shares of the company’s stock, valued at approximately $411,280.02. The trade was a 33.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 278,176 shares of company stock worth $7,893,316. 24.11% of the stock is owned by corporate insiders.

About Edgewise Therapeutics

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.