Edgewise Therapeutics, Inc. $EWTX Shares Sold by First Light Asset Management LLC

First Light Asset Management LLC lessened its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 17.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,414,994 shares of the company’s stock after selling 299,025 shares during the period. Edgewise Therapeutics accounts for approximately 2.2% of First Light Asset Management LLC’s portfolio, making the stock its 18th biggest position. First Light Asset Management LLC’s holdings in Edgewise Therapeutics were worth $22,951,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of EWTX. California State Teachers Retirement System increased its position in Edgewise Therapeutics by 2.4% during the second quarter. California State Teachers Retirement System now owns 36,878 shares of the company’s stock worth $483,000 after purchasing an additional 850 shares during the last quarter. HighMark Wealth Management LLC grew its stake in shares of Edgewise Therapeutics by 2.1% in the 3rd quarter. HighMark Wealth Management LLC now owns 53,179 shares of the company’s stock valued at $863,000 after buying an additional 1,114 shares during the period. Creative Planning grew its stake in shares of Edgewise Therapeutics by 6.7% in the 3rd quarter. Creative Planning now owns 18,036 shares of the company’s stock valued at $293,000 after buying an additional 1,126 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Edgewise Therapeutics by 14.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,148 shares of the company’s stock worth $120,000 after buying an additional 1,188 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Edgewise Therapeutics by 13.1% during the 3rd quarter. Arizona State Retirement System now owns 15,549 shares of the company’s stock worth $252,000 after buying an additional 1,804 shares during the last quarter.

Insiders Place Their Bets

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

Edgewise Therapeutics Stock Down 1.2%

EWTX opened at $29.59 on Monday. Edgewise Therapeutics, Inc. has a 52 week low of $10.60 and a 52 week high of $31.82. The business’s 50 day moving average is $28.54 and its two-hundred day moving average is $22.33. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of -18.15 and a beta of 0.26.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.04). Equities analysts expect that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Evercore reiterated an “outperform” rating and issued a $45.00 price objective on shares of Edgewise Therapeutics in a report on Thursday, February 26th. HC Wainwright raised Edgewise Therapeutics to a “strong-buy” rating in a research report on Thursday, February 26th. Stifel Nicolaus set a $25.00 target price on Edgewise Therapeutics in a research note on Thursday, February 26th. Piper Sandler reiterated an “overweight” rating on shares of Edgewise Therapeutics in a research note on Monday, February 9th. Finally, Wall Street Zen cut shares of Edgewise Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $36.36.

About Edgewise Therapeutics

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.