Janus Henderson Group PLC Acquires 1,348,706 Shares of Edgewise Therapeutics, Inc. $EWTX

Janus Henderson Group PLC raised its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 29.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,915,556 shares of the company’s stock after buying an additional 1,348,706 shares during the quarter. Janus Henderson Group PLC owned 5.50% of Edgewise Therapeutics worth $186,289,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Morgan Stanley lifted its holdings in shares of Edgewise Therapeutics by 234.7% during the fourth quarter. Morgan Stanley now owns 2,910,881 shares of the company’s stock worth $72,234,000 after buying an additional 2,041,203 shares during the last quarter. UBS Group AG grew its stake in shares of Edgewise Therapeutics by 1,755.0% in the fourth quarter. UBS Group AG now owns 2,117,073 shares of the company’s stock worth $52,535,000 after acquiring an additional 2,002,945 shares during the last quarter. Norges Bank acquired a new stake in shares of Edgewise Therapeutics in the fourth quarter worth $18,645,000. Sofinnova Investments Inc. increased its position in Edgewise Therapeutics by 3,185.7% during the second quarter. Sofinnova Investments Inc. now owns 716,873 shares of the company’s stock worth $9,398,000 after acquiring an additional 695,055 shares during the period. Finally, Marshall Wace LLP bought a new position in Edgewise Therapeutics during the fourth quarter worth $16,925,000.

Insider Activity

In other news, CMO Joanne M. Donovan sold 50,000 shares of Edgewise Therapeutics stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $38.57, for a total transaction of $1,928,500.00. Following the sale, the chief marketing officer directly owned 4,367 shares in the company, valued at approximately $168,435.19. The trade was a 91.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alan J. Russell sold 200,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were 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 directly owned 24,555 shares in the company, valued at approximately $967,712.55. The trade was a 89.07% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 255,230 shares of company stock worth $9,974,147. 21.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wedbush increased their price target on shares of Edgewise Therapeutics from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Evercore restated an “outperform” rating and set a $55.00 price objective on shares of Edgewise Therapeutics in a report on Monday, July 20th. Oppenheimer started coverage on shares of Edgewise Therapeutics in a research report on Thursday, July 9th. They set an “outperform” rating and a $51.00 price objective for the company. The Goldman Sachs Group increased their target price on shares of Edgewise Therapeutics from $20.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, June 17th. Finally, Truist Financial set a $52.00 target price on Edgewise Therapeutics in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Edgewise Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.75.

Edgewise Therapeutics Price Performance

Shares of EWTX stock opened at $41.12 on Friday. Edgewise Therapeutics, Inc. has a one year low of $12.30 and a one year high of $48.40. The stock has a fifty day moving average price of $38.36 and a 200 day moving average price of $33.46. The stock has a market cap of $4.42 billion, a P/E ratio of -24.77 and a beta of 0.27.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings results 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 anticipate that Edgewise Therapeutics, Inc. will post -2.01 EPS for the current year.

Edgewise Therapeutics 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.