Vanguard Group Inc. Has $77.92 Million Stake in Edgewise Therapeutics, Inc. $EWTX

Vanguard Group Inc. reduced its position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,803,941 shares of the company’s stock after selling 37,559 shares during the quarter. Vanguard Group Inc. owned 4.56% of Edgewise Therapeutics worth $77,920,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aberdeen Group plc raised its position in Edgewise Therapeutics by 39.8% during the third quarter. Aberdeen Group plc now owns 619,878 shares of the company’s stock valued at $10,054,000 after buying an additional 176,559 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Edgewise Therapeutics in the third quarter worth approximately $929,000. Artisan Partners Limited Partnership increased its position in Edgewise Therapeutics by 50.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 1,379,068 shares of the company’s stock worth $18,080,000 after purchasing an additional 461,846 shares during the last quarter. Schroder Investment Management Group boosted 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 worth $1,980,000 after purchasing an additional 71,911 shares during the period. Finally, Bellevue Group AG grew its stake in Edgewise Therapeutics by 94.3% in the 2nd quarter. Bellevue Group AG now owns 2,775,997 shares of the company’s stock valued at $36,393,000 after buying an additional 1,347,068 shares during the last quarter.

Wall Street Analysts Forecast Growth

EWTX has been the topic of several research analyst reports. Wedbush lowered their price objective on shares of Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th. Wall Street Zen cut Edgewise Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Wednesday, January 21st. Stifel Nicolaus set a $25.00 price objective on shares of Edgewise Therapeutics in a research note on Thursday, February 26th. Finally, HC Wainwright upgraded shares of Edgewise Therapeutics to a “strong-buy” rating in a research report on Thursday, February 26th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.36.

Edgewise Therapeutics Price Performance

Edgewise Therapeutics stock opened at $28.39 on Friday. Edgewise Therapeutics, Inc. has a 52-week low of $10.60 and a 52-week high of $31.82. The stock has a fifty day moving average price of $27.99 and a two-hundred day moving average price of $21.59. The firm has a market capitalization of $3.05 billion, a P/E ratio of -17.42 and a beta of 0.26.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, February 26th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.04). On average, equities research analysts predict that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Insider Activity

In other news, Director Badreddin Edris sold 115,471 shares of the business’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 value of $3,399,466.24. Following the transaction, the director directly owned 19,820 shares of the company’s stock, valued at $583,500.80. The trade was a 85.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 23.20% of the company’s stock.

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.