First Light Asset Management LLC Acquires 93,325 Shares of Edgewise Therapeutics, Inc. $EWTX

First Light Asset Management LLC increased its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 9.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,095,171 shares of the company’s stock after buying an additional 93,325 shares during the period. Edgewise Therapeutics makes up 2.7% of First Light Asset Management LLC’s holdings, making the stock its 16th biggest holding. First Light Asset Management LLC’s holdings in Edgewise Therapeutics were worth $44,497,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC increased its position in Edgewise Therapeutics by 64.9% in the 1st quarter. Parallel Advisors LLC now owns 1,032 shares of the company’s stock valued at $33,000 after acquiring an additional 406 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Edgewise Therapeutics during the second quarter worth approximately $45,000. Jones Financial Companies Lllp acquired a new position in shares of Edgewise Therapeutics during the first quarter worth approximately $47,000. KBC Group NV bought a new stake in shares of Edgewise Therapeutics during the first quarter valued at approximately $49,000. Finally, Seven Fleet Capital Management LP bought a new stake in shares of Edgewise Therapeutics during the fourth quarter valued at approximately $50,000.

Edgewise Therapeutics Trading Down 1.0%

Edgewise Therapeutics stock opened at $43.39 on Thursday. Edgewise Therapeutics, Inc. has a 1 year low of $13.69 and a 1 year high of $48.40. The company has a market cap of $4.71 billion, a PE ratio of -23.45 and a beta of 0.32. The company’s 50-day moving average is $42.39 and its two-hundred day moving average is $36.45.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.06). Research analysts forecast that Edgewise Therapeutics, Inc. will post -2.09 EPS for the current year.

Insider Buying and Selling at Edgewise Therapeutics

In other Edgewise Therapeutics news, General Counsel John Moore sold 5,016 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $43.82, for a total transaction of $219,801.12. Following the completion of the sale, the general counsel owned 17,697 shares in the company, valued at approximately $775,482.54. The trade was a 22.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 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 completion of the transaction, the insider owned 24,555 shares in the company, valued at $967,712.55. This represents a 89.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 238,329 shares of company stock valued at $9,557,529 in the last three months. Insiders own 21.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on EWTX shares. HC Wainwright reissued a “buy” rating and issued a $45.00 price target on shares of Edgewise Therapeutics in a report on Tuesday, June 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Friday, July 17th. Raymond James Financial reiterated a “strong-buy” rating and issued a $66.00 price objective on shares of Edgewise Therapeutics in a research report on Monday, June 1st. Oppenheimer initiated coverage on Edgewise Therapeutics in a research note on Thursday, July 9th. They issued an “outperform” rating and a $51.00 target price for the company. Finally, Wall Street Zen upgraded Edgewise Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.33.

Edgewise Therapeutics 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.