Moody Aldrich Partners LLC Sells 82,247 Shares of Edgewise Therapeutics, Inc. $EWTX

Moody Aldrich Partners LLC lowered its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 45.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 99,848 shares of the company’s stock after selling 82,247 shares during the quarter. Moody Aldrich Partners LLC’s holdings in Edgewise Therapeutics were worth $1,309,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Edgewise Therapeutics by 28.2% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,062 shares of the company’s stock worth $53,000 after buying an additional 894 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Edgewise Therapeutics by 55.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,194 shares of the company’s stock worth $70,000 after acquiring an additional 1,141 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Edgewise Therapeutics by 10.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 12,646 shares of the company’s stock worth $166,000 after purchasing an additional 1,225 shares during the period. Arizona State Retirement System grew its holdings in Edgewise Therapeutics by 12.3% during the 1st quarter. Arizona State Retirement System now owns 12,201 shares of the company’s stock valued at $268,000 after purchasing an additional 1,338 shares during the last quarter. Finally, Jones Financial Companies Lllp purchased a new stake in Edgewise Therapeutics in the 1st quarter worth about $47,000.

Insider Buying and Selling at Edgewise Therapeutics

In other Edgewise Therapeutics news, CMO Joanne M. Donovan sold 2,862 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total transaction of $38,322.18. Following the sale, the chief marketing officer owned 25,361 shares of the company’s stock, valued at approximately $339,583.79. This trade represents a 10.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel John R. Moore sold 2,098 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total value of $28,092.22. Following the completion of the transaction, the general counsel directly owned 10,214 shares of the company’s stock, valued at approximately $136,765.46. The trade was a 17.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 116,267 shares of company stock valued at $1,677,815. 23.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EWTX. Raymond James Financial assumed coverage on Edgewise Therapeutics in a research note on Wednesday, July 30th. They set a “strong-buy” rating and a $46.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Edgewise Therapeutics in a research report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price target on shares of Edgewise Therapeutics from $40.00 to $30.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 19th. The Goldman Sachs Group initiated coverage on shares of Edgewise Therapeutics in a research report on Thursday, September 25th. They issued a “neutral” rating and a $20.00 price objective for the company. Finally, Royal Bank Of Canada raised their target price on shares of Edgewise Therapeutics from $48.00 to $49.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Edgewise Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $38.83.

Edgewise Therapeutics Price Performance

NASDAQ:EWTX opened at $18.67 on Friday. Edgewise Therapeutics, Inc. has a 1-year low of $10.60 and a 1-year high of $38.12. The company has a 50-day moving average of $15.15 and a 200 day moving average of $14.54. The firm has a market cap of $1.97 billion, a PE ratio of -12.05 and a beta of 0.28.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, August 7th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.08. Sell-side analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Edgewise Therapeutics Company Profile

Edgewise Therapeutics, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of muscle disorders. Its lead product candidate, EDG-5506, an orally administered small molecule that is in Phase II clinical trials, designed to address the root cause of dystrophinopathies including Duchenne muscular dystrophy and Becker muscular dystrophy.