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

Fox Run Management L.L.C. acquired a new position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 20,471 shares of the company’s stock, valued at approximately $332,000.

Other hedge funds have also added to or reduced their stakes in the company. California State Teachers Retirement System raised 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 valued at $483,000 after purchasing an additional 850 shares in the last quarter. HighMark Wealth Management LLC raised its holdings in shares of Edgewise Therapeutics by 2.1% during the 3rd quarter. HighMark Wealth Management LLC now owns 53,179 shares of the company’s stock worth $863,000 after buying an additional 1,114 shares in the last quarter. Tower Research Capital LLC TRC lifted its position 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. Teacher Retirement System of Texas boosted its stake in Edgewise Therapeutics by 10.7% in the second quarter. Teacher Retirement System of Texas now owns 12,646 shares of the company’s stock valued at $166,000 after buying an additional 1,225 shares in the last quarter. Finally, Arizona State Retirement System grew its position in Edgewise Therapeutics by 13.1% in the third quarter. Arizona State Retirement System now owns 15,549 shares of the company’s stock valued at $252,000 after acquiring an additional 1,804 shares during the last quarter.

Insider Activity at Edgewise Therapeutics

In other news, Director Badreddin Edris sold 115,471 shares of Edgewise Therapeutics stock in a transaction 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 completion of the sale, the director owned 19,820 shares in the company, valued at $583,500.80. The trade was a 85.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 23.20% of the stock is currently owned by company insiders.

Edgewise Therapeutics Price Performance

Shares of NASDAQ:EWTX opened at $29.70 on Tuesday. Edgewise Therapeutics, Inc. has a 1 year low of $10.60 and a 1 year high of $31.82. The business’s 50-day moving average is $27.80 and its 200-day moving average is $21.38. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of -18.22 and a beta of 0.27.

Edgewise Therapeutics (NASDAQ:EWTX) last released its earnings results on Thursday, February 26th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.04). Analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Wall Street Analyst Weigh In

EWTX has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of Edgewise Therapeutics from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Royal Bank Of Canada upped their price objective on shares of Edgewise Therapeutics from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Wedbush cut their target price on shares of Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating on the stock in a research report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Wednesday, January 21st. Finally, HC Wainwright upgraded Edgewise Therapeutics to a “strong-buy” rating in a research note on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Edgewise Therapeutics currently has a consensus 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.