Polar Asset Management Partners Inc. Has $4.21 Million Stock Holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Polar Asset Management Partners Inc. cut its stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 16.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 157,579 shares of the company’s stock after selling 29,921 shares during the quarter. Polar Asset Management Partners Inc. owned approximately 0.17% of Edgewise Therapeutics worth $4,206,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of EWTX. Quest Partners LLC increased its stake in shares of Edgewise Therapeutics by 156.9% in the second quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock worth $31,000 after acquiring an additional 1,064 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Edgewise Therapeutics in the second quarter worth $35,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Edgewise Therapeutics by 21.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company’s stock worth $88,000 after acquiring an additional 604 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new position in Edgewise Therapeutics during the third quarter worth $161,000. Finally, Arizona State Retirement System bought a new position in Edgewise Therapeutics during the second quarter valued at about $188,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EWTX. Evercore ISI started coverage on Edgewise Therapeutics in a report on Friday, November 22nd. They set an “outperform” rating and a $45.00 price objective on the stock. Truist Financial lifted their price target 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. Piper Sandler upped their price objective on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Wedbush lifted their target price on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $42.33.

Insider Transactions at Edgewise Therapeutics

In related news, CMO Joanne M. Donovan sold 7,162 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $28.29, for a total value of $202,612.98. Following the sale, the chief marketing officer now owns 14,538 shares of the company’s stock, valued at $411,280.02. The trade was a 33.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $2,120,250.00. Following the completion of the sale, the insider now directly owns 12,719 shares in the company, valued at approximately $359,566.13. The trade was a 85.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 278,176 shares of company stock worth $7,893,316. 24.11% of the stock is currently owned by company insiders.

Edgewise Therapeutics Price Performance

Shares of EWTX opened at $32.06 on Thursday. The company has a market capitalization of $3.04 billion, a PE ratio of -21.37 and a beta of 0.12. Edgewise Therapeutics, Inc. has a one year low of $6.44 and a one year high of $38.12. The company’s fifty day moving average price is $32.14 and its 200 day moving average price is $23.48.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.01. Analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

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.