Federated Hermes Inc. Sells 257,244 Shares of Edgewise Therapeutics, Inc. $EWTX

Federated Hermes Inc. decreased its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 81.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 59,256 shares of the company’s stock after selling 257,244 shares during the quarter. Federated Hermes Inc.’s holdings in Edgewise Therapeutics were worth $961,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Y Intercept Hong Kong Ltd purchased a new position in shares of Edgewise Therapeutics during the 3rd quarter worth $929,000. Artisan Partners Limited Partnership lifted its position in Edgewise Therapeutics by 50.4% during the second quarter. Artisan Partners Limited Partnership now owns 1,379,068 shares of the company’s stock valued at $18,080,000 after purchasing an additional 461,846 shares in the last quarter. Schroder Investment Management Group lifted its position in Edgewise Therapeutics by 90.9% during the second quarter. Schroder Investment Management Group now owns 151,062 shares of the company’s stock valued at $1,980,000 after purchasing an additional 71,911 shares in the last quarter. Aberdeen Group plc grew its holdings in Edgewise Therapeutics by 41.6% during the second quarter. Aberdeen Group plc now owns 443,319 shares of the company’s stock valued at $5,812,000 after purchasing an additional 130,294 shares during the period. Finally, Bellevue Group AG increased its position in Edgewise Therapeutics by 94.3% in the second quarter. Bellevue Group AG now owns 2,775,997 shares of the company’s stock worth $36,393,000 after buying an additional 1,347,068 shares in the last quarter.

Edgewise Therapeutics Stock Performance

Shares of EWTX opened at $29.10 on Friday. The stock has a market capitalization of $3.08 billion, a PE ratio of -18.42 and a beta of 0.27. The company’s fifty day moving average is $25.62 and its 200 day moving average is $19.46. Edgewise Therapeutics, Inc. has a fifty-two week low of $10.60 and a fifty-two week high of $30.25.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. As a group, research analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wedbush cut their price objective on Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, November 7th. Wall Street Zen downgraded shares of Edgewise Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. JPMorgan Chase & Co. increased their price objective on shares of Edgewise Therapeutics from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada upped their target price on shares of Edgewise Therapeutics from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Edgewise Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.67.

Insider Activity at Edgewise Therapeutics

In other Edgewise Therapeutics news, Director Badreddin Edris sold 115,471 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $29.44, for a total transaction of $3,399,466.24. Following the sale, the director directly owned 19,820 shares in the company, valued at $583,500.80. This represents a 85.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Alan J. Russell sold 100,000 shares of Edgewise Therapeutics stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $21.12, for a total value of $2,112,000.00. Following the completion of the transaction, the insider owned 23,400 shares of the company’s stock, valued at approximately $494,208. This trade represents a 81.04% decrease in their position. The SEC filing for this sale provides additional information. 23.20% of the stock is owned by insiders.

About Edgewise Therapeutics

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.