Fox Run Management L.L.C. Takes $332,000 Position in Edgewise Therapeutics, Inc. $EWTX

Fox Run Management L.L.C. bought a new stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 20,471 shares of the company’s stock, valued at approximately $332,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. boosted its holdings in Edgewise Therapeutics by 1,170.3% in the third quarter. Bessemer Group Inc. now owns 2,350 shares of the company’s stock worth $38,000 after acquiring an additional 2,165 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Edgewise Therapeutics during the second quarter worth approximately $45,000. Jones Financial Companies Lllp bought a new position in shares of Edgewise Therapeutics in the 1st quarter worth $47,000. Strs Ohio acquired a new stake in Edgewise Therapeutics in the 1st quarter valued at $84,000. Finally, BNP Paribas Financial Markets grew its position in Edgewise Therapeutics by 48.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 8,193 shares of the company’s stock valued at $107,000 after purchasing an additional 2,689 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Stifel Nicolaus set a $25.00 price objective on shares of Edgewise Therapeutics in a research note on Thursday. HC Wainwright upgraded shares of Edgewise Therapeutics to a “strong-buy” rating in a report on Thursday, February 26th. Wedbush cut their price target on Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, November 7th. JPMorgan Chase & Co. boosted their price objective on Edgewise Therapeutics from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Edgewise Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $36.36.

Insider Buying and Selling

In related news, Director Badreddin Edris sold 115,471 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $29.44, for a total value of $3,399,466.24. Following the transaction, the director directly owned 19,820 shares in the company, valued at approximately $583,500.80. This represents a 85.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 23.20% of the stock is currently owned by insiders.

Edgewise Therapeutics Stock Performance

NASDAQ:EWTX opened at $29.70 on Tuesday. Edgewise Therapeutics, Inc. has a 52 week low of $10.60 and a 52 week high of $31.82. The firm has a 50-day moving average price of $27.80 and a two-hundred day moving average price of $21.38. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of -18.22 and a beta of 0.27.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.04). As a group, sell-side analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

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.