Perceptive Advisors LLC Acquires 662,080 Shares of Edgewise Therapeutics, Inc. $EWTX

Perceptive Advisors LLC increased its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 17.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,457,974 shares of the company’s stock after purchasing an additional 662,080 shares during the quarter. Edgewise Therapeutics makes up 2.0% of Perceptive Advisors LLC’s investment portfolio, making the stock its 12th biggest holding. Perceptive Advisors LLC owned approximately 4.21% of Edgewise Therapeutics worth $110,625,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Orbimed Advisors LLC grew its stake in shares of Edgewise Therapeutics by 3.3% in the second quarter. Orbimed Advisors LLC now owns 15,518,492 shares of the company’s stock worth $203,447,000 after purchasing an additional 496,771 shares during the last quarter. RA Capital Management L.P. grew its stake in shares of Edgewise Therapeutics by 5.3% in the third quarter. RA Capital Management L.P. now owns 10,428,437 shares of the company’s stock worth $169,149,000 after purchasing an additional 525,804 shares during the last quarter. Paradigm Biocapital Advisors LP grew its stake in shares of Edgewise Therapeutics by 6.0% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 6,541,210 shares of the company’s stock worth $162,320,000 after purchasing an additional 371,079 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Edgewise Therapeutics by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 4,871,624 shares of the company’s stock worth $120,889,000 after purchasing an additional 67,683 shares during the last quarter. Finally, Siren L.L.C. grew its stake in shares of Edgewise Therapeutics by 16.2% in the fourth quarter. Siren L.L.C. now owns 4,529,990 shares of the company’s stock worth $112,412,000 after purchasing an additional 632,891 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages recently weighed in on EWTX. HC Wainwright reissued a “buy” rating and issued a $45.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday. 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Monday, April 20th. Stifel Nicolaus set a $25.00 price objective on shares of Edgewise Therapeutics in a research note on Thursday, February 26th. Finally, Royal Bank Of Canada boosted their target price on shares of Edgewise Therapeutics from $48.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.30.

Edgewise Therapeutics Stock Up 2.6%

EWTX stock opened at $34.82 on Thursday. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of -20.98 and a beta of 0.27. Edgewise Therapeutics, Inc. has a 12-month low of $12.15 and a 12-month high of $40.76. The company’s fifty day simple moving average is $33.79 and its 200 day simple moving average is $29.86.

Edgewise Therapeutics (NASDAQ:EWTX) last released its 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. Research analysts expect that Edgewise Therapeutics, Inc. will post -2.01 earnings per share for the current year.

Insider Transactions at Edgewise Therapeutics

In related news, CMO Joanne M. Donovan sold 50,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $38.57, for a total value of $1,928,500.00. Following the transaction, the chief marketing officer owned 4,367 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 83,892 shares of company stock valued at $3,018,216 in the last quarter. 21.30% of the stock is owned by insiders.

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.