Stempoint Capital LP Sells 70,012 Shares of Edgewise Therapeutics, Inc. $EWTX

Stempoint Capital LP lessened its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 19.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 290,864 shares of the company’s stock after selling 70,012 shares during the period. Edgewise Therapeutics comprises 1.7% of Stempoint Capital LP’s holdings, making the stock its 19th biggest position. Stempoint Capital LP’s holdings in Edgewise Therapeutics were worth $9,162,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Edgewise Therapeutics by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,776 shares of the company’s stock valued at $963,000 after purchasing an additional 2,463 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in Edgewise Therapeutics during the first quarter worth $47,000. Goldman Sachs Group Inc. lifted its holdings in Edgewise Therapeutics by 5.7% during the first quarter. Goldman Sachs Group Inc. now owns 366,644 shares of the company’s stock worth $8,066,000 after buying an additional 19,753 shares during the period. Strs Ohio bought a new stake in Edgewise Therapeutics during the 1st quarter valued at $84,000. Finally, Creative Planning boosted its position in Edgewise Therapeutics by 29.4% during the 2nd quarter. Creative Planning now owns 16,910 shares of the company’s stock valued at $222,000 after acquiring an additional 3,837 shares in the last quarter.

Edgewise Therapeutics Trading Down 1.5%

Shares of EWTX stock opened at $39.75 on Thursday. Edgewise Therapeutics, Inc. has a 12-month low of $12.30 and a 12-month high of $48.40. The business’s fifty day simple moving average is $38.20 and its 200-day simple moving average is $33.34. The company has a market cap of $4.28 billion, a PE ratio of -23.95 and a beta of 0.27.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.04. On average, equities analysts forecast that Edgewise Therapeutics, Inc. will post -2.01 earnings per share for the current year.

Insider Activity

In other Edgewise Therapeutics news, insider Alan J. Russell sold 200,000 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $39.41, for a total value of $7,882,000.00. Following the completion of the sale, the insider directly owned 24,555 shares in the company, valued at approximately $967,712.55. This trade represents a 89.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Joanne M. Donovan sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $38.57, for a total value of $1,928,500.00. Following the completion of the sale, the chief marketing officer directly owned 4,367 shares of the company’s stock, valued at approximately $168,435.19. This represents a 91.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 255,230 shares of company stock worth $9,974,147 over the last ninety days. 21.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EWTX. Wedbush boosted their price target on Edgewise Therapeutics from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Edgewise Therapeutics in a research report on Friday, July 17th. Truist Financial set a $52.00 target price on Edgewise Therapeutics in a research note on Wednesday, May 6th. The Goldman Sachs Group boosted their target price on shares of Edgewise Therapeutics from $20.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, June 17th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $66.00 price target on shares of Edgewise Therapeutics in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Edgewise Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.75.

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.