Sei Investments Co. Has $1.55 Million Stock Position in Edgewise Therapeutics, Inc. $EWTX

Sei Investments Co. raised its position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 57.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 49,082 shares of the company’s stock after purchasing an additional 17,832 shares during the quarter. Sei Investments Co.’s holdings in Edgewise Therapeutics were worth $1,546,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Edgewise Therapeutics by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,776 shares of the company’s stock worth $963,000 after purchasing an additional 2,463 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Edgewise Therapeutics in the 1st quarter valued at $47,000. Goldman Sachs Group Inc. increased its position 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 buying an additional 19,753 shares during the period. Strs Ohio acquired a new stake in shares of Edgewise Therapeutics during the first quarter worth $84,000. Finally, Creative Planning raised its stake in Edgewise Therapeutics by 29.4% during the second quarter. Creative Planning now owns 16,910 shares of the company’s stock worth $222,000 after buying an additional 3,837 shares during the last quarter.

Analyst Upgrades and Downgrades

EWTX has been the topic of several recent analyst reports. Truist Financial set a $52.00 target price on shares of Edgewise Therapeutics in a report on Wednesday, May 6th. Royal Bank Of Canada increased their price target on Edgewise Therapeutics from $48.00 to $59.00 and gave the stock an “outperform” rating in a report on Wednesday, June 17th. Guggenheim lifted their price objective on Edgewise Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Wedbush boosted their price objective on Edgewise Therapeutics from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Finally, Oppenheimer began coverage on Edgewise Therapeutics in a research report on Thursday, July 9th. They set an “outperform” rating and a $51.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Edgewise Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.75.

Edgewise Therapeutics Price Performance

Shares of NASDAQ EWTX opened at $44.58 on Tuesday. The stock has a market capitalization of $4.84 billion, a P/E ratio of -24.10 and a beta of 0.30. The company has a 50-day moving average price of $39.54 and a 200-day moving average price of $34.24. Edgewise Therapeutics, Inc. has a 1 year low of $12.30 and a 1 year high of $48.40.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, August 6th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.06). As a group, equities research analysts anticipate that Edgewise Therapeutics, Inc. will post -2.06 earnings per share for the current fiscal year.

Insider Transactions at Edgewise Therapeutics

In other Edgewise Therapeutics news, insider Alan J. Russell sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was 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 of the company’s stock, valued at approximately $967,712.55. The trade was a 89.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 21.30% of the company’s stock.

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.