DAFNA Capital Management LLC Reduces Holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

DAFNA Capital Management LLC decreased its position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 17.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 187,140 shares of the company’s stock after selling 40,766 shares during the quarter. Edgewise Therapeutics makes up about 1.3% of DAFNA Capital Management LLC’s holdings, making the stock its 22nd largest position. DAFNA Capital Management LLC’s holdings in Edgewise Therapeutics were worth $4,997,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC boosted its holdings in shares of Edgewise Therapeutics by 291.0% in the third quarter. Barclays PLC now owns 119,350 shares of the company’s stock valued at $3,186,000 after acquiring an additional 88,826 shares during the period. Franklin Resources Inc. increased its holdings in shares of Edgewise Therapeutics by 84.2% in the third quarter. Franklin Resources Inc. now owns 45,223 shares of the company’s stock valued at $1,207,000 after purchasing an additional 20,674 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Edgewise Therapeutics by 146.3% in the third quarter. JPMorgan Chase & Co. now owns 158,506 shares of the company’s stock valued at $4,231,000 after acquiring an additional 94,147 shares in the last quarter. Moody Aldrich Partners LLC raised its stake in shares of Edgewise Therapeutics by 24.3% during the 4th quarter. Moody Aldrich Partners LLC now owns 187,932 shares of the company’s stock worth $5,018,000 after buying an additional 36,775 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Edgewise Therapeutics by 11.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 20,077 shares of the company’s stock worth $536,000 after purchasing an additional 2,042 shares during the period.

Edgewise Therapeutics Trading Up 0.9 %

EWTX opened at $14.51 on Thursday. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -9.67 and a beta of 0.36. Edgewise Therapeutics, Inc. has a twelve month low of $10.60 and a twelve month high of $38.12. The company has a fifty day simple moving average of $18.67 and a 200 day simple moving average of $25.90.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Monday, March 3rd. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.03). On average, analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Edgewise Therapeutics news, Director Orbimed Advisors Llc purchased 496,771 shares of the company’s stock in a transaction on Thursday, April 3rd. The shares were purchased at an average cost of $20.13 per share, for a total transaction of $10,000,000.23. Following the completion of the transaction, the director now owns 14,809,075 shares in the company, valued at $298,106,679.75. The trade was a 3.47 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel John R. Moore sold 1,930 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $16.45, for a total transaction of $31,748.50. Following the transaction, the general counsel now owns 6,531 shares of the company’s stock, valued at approximately $107,434.95. This trade represents a 22.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,258 shares of company stock worth $234,544. Insiders own 24.11% of the company’s stock.

Analyst Upgrades and Downgrades

EWTX has been the subject of several research reports. Royal Bank of Canada reduced their price objective on Edgewise Therapeutics from $56.00 to $52.00 and set an “outperform” rating for the company in a report on Thursday, April 3rd. Scotiabank lowered Edgewise Therapeutics from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $50.00 to $14.00 in a research note on Wednesday, April 2nd. Stifel Nicolaus started coverage on shares of Edgewise Therapeutics in a research report on Wednesday, January 22nd. They set a “hold” rating and a $30.00 target price on the stock. Guggenheim assumed coverage on shares of Edgewise Therapeutics in a report on Wednesday, April 30th. They set a “buy” rating and a $41.00 price objective on the stock. Finally, Piper Sandler restated an “overweight” rating and set a $51.00 price target on shares of Edgewise Therapeutics in a research note on Wednesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.22.

Edgewise Therapeutics 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.