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

Stempoint Capital LP lessened its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 19.4% during the 1st quarter, according to its most recent 13F 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 makes up approximately 1.7% of Stempoint Capital LP’s holdings, making the stock its 19th largest holding. Stempoint Capital LP owned approximately 0.27% of Edgewise Therapeutics worth $9,162,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Janus Henderson Group PLC increased its position in Edgewise Therapeutics by 29.5% during the first quarter. Janus Henderson Group PLC now owns 5,915,556 shares of the company’s stock valued at $186,289,000 after acquiring an additional 1,348,706 shares during the last quarter. Ally Bridge Group NY LLC lifted its holdings in shares of Edgewise Therapeutics by 392.7% in the 1st quarter. Ally Bridge Group NY LLC now owns 161,000 shares of the company’s stock worth $5,072,000 after acquiring an additional 216,000 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of Edgewise Therapeutics by 45.7% in the 1st quarter. California State Teachers Retirement System now owns 73,419 shares of the company’s stock worth $2,313,000 after acquiring an additional 23,027 shares during the last quarter. Quantinno Capital Management LP purchased a new position in shares of Edgewise Therapeutics during the 1st quarter worth about $235,000. Finally, Sei Investments Co. boosted its stake in shares of Edgewise Therapeutics by 57.1% during the 1st quarter. Sei Investments Co. now owns 49,082 shares of the company’s stock worth $1,546,000 after purchasing an additional 17,832 shares during the period.

Edgewise Therapeutics Price Performance

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 firm’s 50-day moving average is $38.20 and its 200 day moving average is $33.34. The company has a market capitalization of $4.28 billion, a PE ratio of -23.95 and a beta of 0.27.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.04. Sell-side analysts forecast that Edgewise Therapeutics, Inc. will post -2.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

EWTX has been the topic of a number of recent analyst reports. Oppenheimer began coverage on shares of Edgewise Therapeutics in a research report on Thursday, July 9th. They issued an “outperform” rating and a $51.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $45.00 target price on shares of Edgewise Therapeutics in a research report on Tuesday, June 16th. Royal Bank Of Canada upped their target price on Edgewise Therapeutics from $48.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, June 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Friday, July 17th. Finally, Guggenheim raised their price target on Edgewise Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.75.

Insider Buying and Selling

In related news, CMO Joanne M. Donovan sold 50,000 shares of the business’s stock in a transaction that occurred on 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 owned 4,367 shares in the company, valued at approximately $168,435.19. The trade was a 91.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alan J. Russell sold 200,000 shares of the firm’s stock in a transaction on 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 transaction, the insider owned 24,555 shares in the company, valued at $967,712.55. The trade was a 89.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 255,230 shares of company stock valued at $9,974,147 in the last quarter. 21.30% of the stock is owned by company insiders.

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.