Moody Aldrich Partners LLC Acquires 36,775 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Moody Aldrich Partners LLC boosted its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 24.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,932 shares of the company’s stock after purchasing an additional 36,775 shares during the quarter. Moody Aldrich Partners LLC owned about 0.20% of Edgewise Therapeutics worth $5,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of EWTX. Mirae Asset Global Investments Co. Ltd. boosted its stake in Edgewise Therapeutics by 21.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company’s stock worth $88,000 after purchasing an additional 604 shares in the last quarter. Meeder Asset Management Inc. raised its stake in shares of Edgewise Therapeutics by 69.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company’s stock valued at $88,000 after buying an additional 1,361 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new stake in shares of Edgewise Therapeutics during the 3rd quarter worth approximately $161,000. Dark Forest Capital Management LP purchased a new position in shares of Edgewise Therapeutics during the 2nd quarter valued at approximately $193,000. Finally, US Bancorp DE boosted its holdings in Edgewise Therapeutics by 12,452.9% during the third quarter. US Bancorp DE now owns 8,536 shares of the company’s stock worth $228,000 after buying an additional 8,468 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Truist Financial increased their target price on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Wedbush boosted their price target on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Evercore ISI lifted their target price on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Piper Sandler boosted their price objective on Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Stifel Nicolaus initiated coverage on shares of Edgewise Therapeutics in a report on Wednesday, January 22nd. They set a “hold” rating and a $30.00 target price for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.29.

Edgewise Therapeutics Trading Down 0.2 %

Shares of EWTX opened at $27.80 on Wednesday. The firm has a 50-day simple moving average of $29.05 and a 200-day simple moving average of $26.34. Edgewise Therapeutics, Inc. has a fifty-two week low of $14.90 and a fifty-two week high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.01. Equities research analysts predict that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Alan J. Russell sold 100,000 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $27.37, for a total transaction of $2,737,000.00. Following the completion of the sale, the insider now owns 14,863 shares in the company, valued at approximately $406,800.31. The trade was a 87.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marc Semigran sold 29,709 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was 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 approximately $199,398.04. This represents a 81.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.