Ishara Investments LP Acquires New Holdings in Edgewise Therapeutics, Inc. $EWTX

Ishara Investments LP acquired a new stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 58,000 shares of the company’s stock, valued at approximately $1,439,000. Edgewise Therapeutics makes up 1.7% of Ishara Investments LP’s portfolio, making the stock its 21st largest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Orbimed Advisors LLC raised its holdings in Edgewise Therapeutics by 3.3% in the 2nd quarter. Orbimed Advisors LLC now owns 15,518,492 shares of the company’s stock valued at $203,447,000 after buying an additional 496,771 shares during the period. RA Capital Management L.P. increased its stake in Edgewise Therapeutics by 5.3% during the third quarter. RA Capital Management L.P. now owns 10,428,437 shares of the company’s stock worth $169,149,000 after purchasing an additional 525,804 shares during the period. Paradigm Biocapital Advisors LP increased its stake in Edgewise Therapeutics by 6.0% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 6,541,210 shares of the company’s stock worth $162,320,000 after purchasing an additional 371,079 shares during the period. Vanguard Group Inc. increased its stake in Edgewise Therapeutics by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 4,871,624 shares of the company’s stock worth $120,889,000 after purchasing an additional 67,683 shares during the period. Finally, Siren L.L.C. increased its stake in Edgewise Therapeutics by 16.2% during the fourth quarter. Siren L.L.C. now owns 4,529,990 shares of the company’s stock worth $112,412,000 after purchasing an additional 632,891 shares during the period.

Edgewise Therapeutics Stock Performance

EWTX stock opened at $34.82 on Thursday. The company’s 50 day moving average price is $33.79 and its 200 day moving average price is $29.86. Edgewise Therapeutics, Inc. has a fifty-two week low of $12.15 and a fifty-two week high of $40.76. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of -20.98 and a beta of 0.27.

Edgewise Therapeutics (NASDAQ:EWTX) last released its earnings results 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. Equities analysts forecast that Edgewise Therapeutics, Inc. will post -2.01 EPS for the current fiscal year.

Insider Buying and Selling at Edgewise Therapeutics

In related news, CMO Joanne M. Donovan sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $38.57, for a total transaction of $1,928,500.00. Following the sale, the chief marketing officer directly owned 4,367 shares in the company, valued at approximately $168,435.19. This represents a 91.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 83,892 shares of company stock worth $3,018,216 in the last 90 days. 21.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on EWTX shares. The Goldman Sachs Group boosted their price target on shares of Edgewise Therapeutics from $20.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday. Leerink Partners set a $52.00 price target on shares of Edgewise Therapeutics in a research note on Tuesday. HC Wainwright reiterated a “buy” rating and set a $45.00 price target on shares of Edgewise Therapeutics in a research note on Tuesday. Evercore reiterated an “outperform” rating and set a $45.00 price target on shares of Edgewise Therapeutics in a research note on Thursday, February 26th. Finally, Royal Bank Of Canada boosted their price target on shares of Edgewise Therapeutics from $48.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued 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 a consensus target price of $47.30.

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.