Peregrine Capital Management LLC purchased a new position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX – Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 208,672 shares of the company’s stock, valued at approximately $6,573,000.
Several other institutional investors also recently added to or reduced their stakes in EWTX. Optimize Financial Inc lifted its holdings in Edgewise Therapeutics by 1.5% during the 4th quarter. Optimize Financial Inc now owns 27,679 shares of the company’s stock valued at $687,000 after buying an additional 396 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Edgewise Therapeutics by 23.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,854 shares of the company’s stock worth $71,000 after acquiring an additional 550 shares in the last quarter. California State Teachers Retirement System grew its stake in Edgewise Therapeutics by 2.4% in 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Edgewise Therapeutics by 26.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,145 shares of the company’s stock worth $128,000 after acquiring an additional 1,072 shares during the period. Finally, Creative Planning increased its position in shares of Edgewise Therapeutics by 6.7% during the third quarter. Creative Planning now owns 18,036 shares of the company’s stock worth $293,000 after acquiring an additional 1,126 shares during the period.
Insider Transactions at Edgewise Therapeutics
In other news, CMO Joanne M. Donovan sold 50,000 shares of the business’s stock in a transaction on 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 directly owned 4,367 shares of the company’s stock, valued at approximately $168,435.19. The trade was a 91.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 21.30% of the company’s stock.
Edgewise Therapeutics Stock Performance
Edgewise Therapeutics (NASDAQ:EWTX – Get Free Report) 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. Equities research analysts forecast that Edgewise Therapeutics, Inc. will post -2.01 EPS for the current year.
Analyst Ratings Changes
EWTX has been the subject of a number of research reports. Raymond James Financial reiterated a “strong-buy” rating and issued a $66.00 price target on shares of Edgewise Therapeutics in a report on Monday, June 1st. JPMorgan Chase & Co. raised their price objective on Edgewise Therapeutics from $34.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, March 17th. Leerink Partners set a $52.00 target price on Edgewise Therapeutics in a research report on Tuesday, June 16th. The Goldman Sachs Group upped their target price on Edgewise Therapeutics from $20.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, June 17th. Finally, Wedbush increased their price target on Edgewise Therapeutics from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $47.30.
View Our Latest Stock Analysis on EWTX
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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