Glenmede Trust Co. NA Buys New Shares in Edgewise Therapeutics, Inc. $EWTX

Glenmede Trust Co. NA bought a new position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 19,224 shares of the company’s stock, valued at approximately $606,000.

Several other hedge funds have also added to or reduced their stakes in the business. Janus Henderson Group PLC grew its stake in shares of Edgewise Therapeutics by 29.5% during the first quarter. Janus Henderson Group PLC now owns 5,915,556 shares of the company’s stock valued at $186,289,000 after buying an additional 1,348,706 shares during the last quarter. UBS Group AG lifted its stake in shares of Edgewise Therapeutics by 1,755.0% in the 4th quarter. UBS Group AG now owns 2,117,073 shares of the company’s stock valued at $52,535,000 after acquiring an additional 2,002,945 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of Edgewise Therapeutics by 104.8% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 271,385 shares of the company’s stock valued at $6,734,000 after acquiring an additional 138,882 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in Edgewise Therapeutics during the 4th quarter valued at about $446,000. Finally, SEB Asset Management AB purchased a new stake in Edgewise Therapeutics during the 1st quarter valued at about $6,505,000.

Analysts Set New Price Targets

Several research firms recently issued reports on EWTX. Wedbush raised their price target on Edgewise Therapeutics from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Leerink Partners set a $52.00 price objective on Edgewise Therapeutics in a research report on Tuesday, June 16th. Oppenheimer initiated coverage on Edgewise Therapeutics in a research note on Thursday, July 9th. They set an “outperform” rating and a $51.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Friday, July 17th. Finally, Evercore reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Edgewise Therapeutics in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.75.

Insider Activity

In other 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 21.30% of the company’s stock.

Edgewise Therapeutics Price Performance

NASDAQ EWTX opened at $43.52 on Friday. The stock has a market capitalization of $4.68 billion, a PE ratio of -23.52 and a beta of 0.30. Edgewise Therapeutics, Inc. has a 1 year low of $12.30 and a 1 year high of $48.40. The business’s 50-day moving average is $39.45 and its 200 day moving average is $34.09.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.53) earnings per share (EPS) 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 -2.01 earnings per share for the current year.

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.