Quarry LP Has $93,000 Stock Holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Quarry LP trimmed its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 75.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,500 shares of the company’s stock after selling 10,500 shares during the quarter. Quarry LP’s holdings in Edgewise Therapeutics were worth $93,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Parkman Healthcare Partners LLC raised its holdings in Edgewise Therapeutics by 14.4% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 657,070 shares of the company’s stock worth $17,537,000 after acquiring an additional 82,553 shares during the period. Janus Henderson Group PLC increased its stake in shares of Edgewise Therapeutics by 74.8% in the third quarter. Janus Henderson Group PLC now owns 4,558,519 shares of the company’s stock worth $121,616,000 after purchasing an additional 1,951,220 shares during the period. HighVista Strategies LLC acquired a new position in shares of Edgewise Therapeutics during the 3rd quarter worth about $2,371,000. Fred Alger Management LLC acquired a new position in shares of Edgewise Therapeutics during the 3rd quarter worth about $564,000. Finally, Braidwell LP bought a new stake in Edgewise Therapeutics during the 3rd quarter valued at approximately $52,267,000.

Edgewise Therapeutics Stock Up 3.2 %

NASDAQ EWTX opened at $32.59 on Friday. Edgewise Therapeutics, Inc. has a twelve month low of $6.44 and a twelve month high of $38.12. The stock has a market cap of $3.09 billion, a P/E ratio of -21.73 and a beta of 0.12. The company’s 50-day simple moving average is $32.51 and its 200 day simple moving average is $23.69.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.01. Research analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Alan J. Russell sold 75,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $28.27, for a total value of $2,120,250.00. Following the sale, the insider now owns 12,719 shares of the company’s stock, valued at approximately $359,566.13. This represents a 85.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel John R. Moore sold 50,000 shares of Edgewise Therapeutics stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $28.37, for a total transaction of $1,418,500.00. Following the transaction, the general counsel now directly owns 3,252 shares of the company’s stock, valued at $92,259.24. This represents a 93.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 278,176 shares of company stock worth $7,893,316 over the last three months. 24.11% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on EWTX. JPMorgan Chase & Co. lifted their price target on Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Royal Bank of Canada restated an “outperform” rating and issued a $32.00 price target on shares of Edgewise Therapeutics in a research report on Tuesday, September 17th. Truist Financial upped their price objective on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Wedbush lifted their target price on Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Piper Sandler upped their price target on Edgewise Therapeutics from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $42.33.

About Edgewise Therapeutics

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.