SG Americas Securities LLC Buys 78,842 Shares of Edgewise Therapeutics, Inc. $EWTX

SG Americas Securities LLC raised its position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 797.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,723 shares of the company’s stock after acquiring an additional 78,842 shares during the period. SG Americas Securities LLC owned approximately 0.08% of Edgewise Therapeutics worth $2,202,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Qube Research & Technologies Ltd increased its stake in Edgewise Therapeutics by 11.2% in the third quarter. Qube Research & Technologies Ltd now owns 555,713 shares of the company’s stock worth $9,014,000 after purchasing an additional 55,796 shares during the period. RA Capital Management L.P. boosted its stake in shares of 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 valued at $169,149,000 after purchasing an additional 525,804 shares during the period. Prelude Capital Management LLC grew its holdings in shares of Edgewise Therapeutics by 26.8% in the third quarter. Prelude Capital Management LLC now owns 49,205 shares of the company’s stock worth $798,000 after purchasing an additional 10,396 shares during the last quarter. Paradigm Biocapital Advisors LP increased its stake in Edgewise Therapeutics by 0.5% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 6,170,131 shares of the company’s stock worth $100,080,000 after buying an additional 27,787 shares during the period. Finally, HighVista Strategies LLC lifted its holdings in Edgewise Therapeutics by 198.5% during the 3rd quarter. HighVista Strategies LLC now owns 208,101 shares of the company’s stock valued at $3,375,000 after buying an additional 138,378 shares in the last quarter.

Insider Transactions at Edgewise Therapeutics

In other Edgewise Therapeutics news, CMO Joanne M. Donovan sold 28,662 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $32.31, for a total transaction of $926,069.22. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Badreddin Edris sold 115,471 shares of the firm’s stock in a transaction that occurred 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 directly owned 19,820 shares in the company, valued at approximately $583,500.80. The trade was a 85.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 23.20% of the stock is owned by company insiders.

Edgewise Therapeutics Stock Performance

NASDAQ:EWTX opened at $33.33 on Friday. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of -20.45 and a beta of 0.24. Edgewise Therapeutics, Inc. has a one year low of $10.60 and a one year high of $33.56. The firm’s fifty day moving average is $29.93 and its two-hundred day moving average is $24.00.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.04). As a group, equities research analysts predict that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EWTX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Wednesday, January 21st. Piper Sandler reaffirmed an “overweight” rating on shares of Edgewise Therapeutics in a research report on Monday, February 9th. Wall Street Zen cut Edgewise Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. JPMorgan Chase & Co. raised their price target on Edgewise Therapeutics from $34.00 to $45.00 and gave the company an “overweight” rating in a research note on Tuesday, March 17th. Finally, Stifel Nicolaus set a $25.00 price objective on Edgewise Therapeutics in a report on Thursday, February 26th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Edgewise Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.44.

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.