Perceptive Advisors LLC lessened its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX – Free Report) by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,423,974 shares of the company’s stock after selling 34,000 shares during the period. Edgewise Therapeutics comprises 2.7% of Perceptive Advisors LLC’s portfolio, making the stock its 9th largest holding. Perceptive Advisors LLC owned approximately 4.11% of Edgewise Therapeutics worth $139,355,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of EWTX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Edgewise Therapeutics by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,776 shares of the company’s stock worth $963,000 after acquiring an additional 2,463 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in Edgewise Therapeutics in the 1st quarter valued at $47,000. Goldman Sachs Group Inc. raised its holdings in Edgewise Therapeutics by 5.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 366,644 shares of the company’s stock valued at $8,066,000 after acquiring an additional 19,753 shares during the last quarter. Strs Ohio purchased a new position in shares of Edgewise Therapeutics during the 1st quarter worth $84,000. Finally, Creative Planning lifted its stake in shares of Edgewise Therapeutics by 29.4% during the 2nd quarter. Creative Planning now owns 16,910 shares of the company’s stock worth $222,000 after purchasing an additional 3,837 shares during the period.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on EWTX shares. Leerink Partners set a $52.00 price objective on Edgewise Therapeutics in a research report on Tuesday, June 16th. Evercore reiterated an “outperform” rating and set a $55.00 target price on shares of Edgewise Therapeutics in a research report on Monday, July 20th. Raymond James Financial reissued a “strong-buy” rating and issued a $66.00 price target on shares of Edgewise Therapeutics in a research note on Monday, June 1st. Royal Bank Of Canada lifted their price target on Edgewise Therapeutics from $48.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, June 17th. Finally, Truist Financial set a $52.00 price objective on shares of Edgewise Therapeutics in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.75.
Edgewise Therapeutics Stock Down 6.5%
Shares of EWTX opened at $38.43 on Friday. Edgewise Therapeutics, Inc. has a fifty-two week low of $12.30 and a fifty-two week high of $48.40. The company’s fifty day moving average is $38.48 and its two-hundred day moving average is $33.49. The firm has a market cap of $4.13 billion, a PE ratio of -23.15 and a beta of 0.27.
Edgewise Therapeutics (NASDAQ:EWTX – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.46) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.04. As a group, equities research analysts anticipate that Edgewise Therapeutics, Inc. will post -2.01 earnings per share for the current year.
Insider Transactions at Edgewise Therapeutics
In other Edgewise Therapeutics news, insider Alan J. Russell sold 200,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $39.41, for a total transaction of $7,882,000.00. Following the completion of the sale, the insider owned 24,555 shares of the company’s stock, valued at approximately $967,712.55. The trade was a 89.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Joanne M. Donovan sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $38.57, for a total value of $1,928,500.00. Following the completion of the transaction, the chief marketing officer owned 4,367 shares in the company, valued at approximately $168,435.19. This trade represents a 91.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 255,230 shares of company stock valued at $9,974,147. 21.30% of the stock is owned by company insiders.
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.
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