Vanguard Group Inc. Purchases 67,683 Shares of Edgewise Therapeutics, Inc. $EWTX

Vanguard Group Inc. grew its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,871,624 shares of the company’s stock after acquiring an additional 67,683 shares during the period. Vanguard Group Inc. owned 4.60% of Edgewise Therapeutics worth $120,889,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of EWTX. California State Teachers Retirement System raised its position in Edgewise Therapeutics by 2.4% in the 2nd quarter. California State Teachers Retirement System now owns 36,878 shares of the company’s stock valued at $483,000 after purchasing an additional 850 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Edgewise Therapeutics by 26.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,145 shares of the company’s stock valued at $128,000 after buying an additional 1,072 shares in the last quarter. Creative Planning raised its holdings in shares of Edgewise Therapeutics by 6.7% in the third quarter. Creative Planning now owns 18,036 shares of the company’s stock valued at $293,000 after buying an additional 1,126 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Edgewise Therapeutics by 14.9% in the second quarter. Tower Research Capital LLC TRC now owns 9,148 shares of the company’s stock valued at $120,000 after buying an additional 1,188 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in Edgewise Therapeutics by 13.1% during the 3rd quarter. Arizona State Retirement System now owns 15,549 shares of the company’s stock worth $252,000 after buying an additional 1,804 shares in the last quarter.

Edgewise Therapeutics Trading Down 1.6%

Shares of NASDAQ:EWTX opened at $34.01 on Wednesday. Edgewise Therapeutics, Inc. has a 1-year low of $12.15 and a 1-year high of $39.96. The stock has a market capitalization of $3.66 billion, a P/E ratio of -20.49 and a beta of 0.25. The business has a 50-day moving average price of $31.79 and a two-hundred day moving average price of $27.23.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.04. As a group, equities analysts predict that Edgewise Therapeutics, Inc. will post -2.14 EPS for the current year.

Insider Buying and Selling

In other Edgewise Therapeutics news, CMO Joanne M. Donovan sold 50,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief marketing officer 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 SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 83,892 shares of company stock worth $3,018,216. 23.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on EWTX shares. Piper Sandler reissued an “overweight” rating on shares of Edgewise Therapeutics in a report on Monday, February 9th. Raymond James Financial set a $46.00 target price on shares of Edgewise Therapeutics in a research report on Tuesday, March 10th. 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 report on Thursday, February 26th. Finally, HC Wainwright raised Edgewise Therapeutics to a “strong-buy” rating in a report on Thursday, February 26th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Edgewise Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $39.67.

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.