Ishara Investments LP Makes New $1.44 Million Investment in Edgewise Therapeutics, Inc. $EWTX

Ishara Investments LP bought a new position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 58,000 shares of the company’s stock, valued at approximately $1,439,000. Edgewise Therapeutics comprises approximately 1.7% of Ishara Investments LP’s investment portfolio, making the stock its 21st biggest position. Ishara Investments LP owned approximately 0.05% of Edgewise Therapeutics at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Optimize Financial Inc boosted its stake in Edgewise Therapeutics by 1.5% during the 4th quarter. Optimize Financial Inc now owns 27,679 shares of the company’s stock worth $687,000 after purchasing an additional 396 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Edgewise Therapeutics by 23.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,854 shares of the company’s stock worth $71,000 after purchasing an additional 550 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Edgewise Therapeutics by 2.4% during the 2nd quarter. California State Teachers Retirement System now owns 36,878 shares of the company’s stock worth $483,000 after acquiring an additional 850 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Edgewise Therapeutics by 26.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,145 shares of the company’s stock valued at $128,000 after acquiring an additional 1,072 shares during the last quarter. Finally, Creative Planning boosted its position in shares of Edgewise Therapeutics by 6.7% during the 3rd quarter. Creative Planning now owns 18,036 shares of the company’s stock valued at $293,000 after acquiring an additional 1,126 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Stifel Nicolaus set a $25.00 price target on shares of Edgewise Therapeutics in a research report on Thursday, February 26th. The Goldman Sachs Group boosted their price target on shares of Edgewise Therapeutics from $20.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday. Royal Bank Of Canada boosted their price target on shares of Edgewise Therapeutics from $48.00 to $59.00 and gave the company an “outperform” rating in a research report on Wednesday. Leerink Partners set a $52.00 price target on shares of Edgewise Therapeutics in a research report on Tuesday. Finally, Wedbush boosted their price target on shares of Edgewise Therapeutics from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.30.

Insider Transactions at Edgewise Therapeutics

In related news, CMO Joanne M. Donovan sold 50,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $38.57, for a total value of $1,928,500.00. Following the sale, the chief marketing officer directly owned 4,367 shares in the company, valued at approximately $168,435.19. The trade was a 91.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 83,892 shares of company stock valued at $3,018,216. 21.30% of the stock is currently owned by insiders.

Edgewise Therapeutics Trading Up 2.6%

Shares of EWTX stock opened at $34.82 on Thursday. The company’s 50-day moving average price is $33.79 and its 200-day moving average price is $29.86. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of -20.98 and a beta of 0.27. Edgewise Therapeutics, Inc. has a twelve month low of $12.15 and a twelve month high of $40.76.

Edgewise Therapeutics (NASDAQ:EWTX) last issued 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. As a group, equities research analysts predict that Edgewise Therapeutics, Inc. will post -2.01 EPS for the current year.

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.