Knights of Columbus Asset Advisors LLC Takes $960,000 Position in Edgewise Therapeutics, Inc. $EWTX

Knights of Columbus Asset Advisors LLC bought a new stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 38,676 shares of the company’s stock, valued at approximately $960,000.

A number of other institutional investors have also recently added to or reduced their stakes in EWTX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 period. Jones Financial Companies Lllp acquired a new stake in shares of Edgewise Therapeutics in the first quarter valued at about $47,000. Goldman Sachs Group Inc. increased its stake in shares of Edgewise Therapeutics by 5.7% during the first quarter. Goldman Sachs Group Inc. now owns 366,644 shares of the company’s stock worth $8,066,000 after purchasing an additional 19,753 shares in the last quarter. Strs Ohio acquired a new position in shares of Edgewise Therapeutics during the 1st quarter worth about $84,000. Finally, Creative Planning raised its position 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 last quarter.

Insider Buying and Selling

In other Edgewise Therapeutics 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 transaction of $1,928,500.00. Following the transaction, the chief marketing officer owned 4,367 shares of the company’s stock, valued at approximately $168,435.19. The trade was a 91.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 83,892 shares of company stock worth $3,018,216 in the last quarter. Company insiders own 23.20% of the company’s stock.

Edgewise Therapeutics Trading Down 0.7%

Shares of NASDAQ EWTX opened at $33.30 on Friday. The stock has a market cap of $3.58 billion, a PE ratio of -20.06 and a beta of 0.25. Edgewise Therapeutics, Inc. has a 12-month low of $12.15 and a 12-month high of $39.96. The company has a 50-day moving average of $32.65 and a 200 day moving average of $28.58.

Edgewise Therapeutics (NASDAQ:EWTX) last released its earnings results on Thursday, May 7th. The company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.04. On average, sell-side analysts forecast that Edgewise Therapeutics, Inc. will post -2.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EWTX. Truist Financial set a $52.00 price objective on Edgewise Therapeutics in a report on Wednesday, May 6th. Piper Sandler reissued an “overweight” rating on shares of Edgewise Therapeutics in a report on Monday, February 9th. Wall Street Zen lowered Edgewise Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Edgewise Therapeutics in a research report on Monday, April 20th. Finally, Evercore reissued an “outperform” rating and issued a $45.00 price objective on shares of Edgewise Therapeutics in a research note on Thursday, February 26th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Edgewise Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $39.67.

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.