Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC reduced its stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 35.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,899 shares of the company’s stock after selling 5,366 shares during the period. Bleakley Financial Group LLC’s holdings in Edgewise Therapeutics were worth $264,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. RA Capital Management L.P. purchased a new stake in Edgewise Therapeutics in the 1st quarter valued at about $162,502,000. Novo Holdings A S purchased a new stake in Edgewise Therapeutics in the 2nd quarter valued at about $114,263,000. Baker BROS. Advisors LP raised its holdings in Edgewise Therapeutics by 87.6% in the 1st quarter. Baker BROS. Advisors LP now owns 5,840,059 shares of the company’s stock valued at $106,523,000 after buying an additional 2,727,273 shares during the period. Vanguard Group Inc. grew its stake in shares of Edgewise Therapeutics by 89.0% in the first quarter. Vanguard Group Inc. now owns 4,017,433 shares of the company’s stock valued at $73,278,000 after buying an additional 1,892,053 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. raised its holdings in shares of Edgewise Therapeutics by 12.9% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,731,067 shares of the company’s stock valued at $67,197,000 after buying an additional 427,500 shares during the period.

Analysts Set New Price Targets

EWTX has been the topic of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $32.00 price objective on shares of Edgewise Therapeutics in a report on Tuesday, September 17th. JPMorgan Chase & Co. boosted their price objective on Edgewise Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Piper Sandler boosted their price objective on Edgewise Therapeutics from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Truist Financial boosted their price objective on Edgewise Therapeutics from $25.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Wedbush restated an “outperform” rating and issued a $31.00 price target on shares of Edgewise Therapeutics in a research note on Friday, August 16th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $35.60.

Insider Buying and Selling

In other news, General Counsel John R. Moore sold 50,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $28.37, for a total transaction of $1,418,500.00. Following the sale, the general counsel now owns 3,252 shares of the company’s stock, valued at approximately $92,259.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel John R. Moore sold 50,000 shares of Edgewise Therapeutics stock in a transaction on Friday, September 20th. The shares were sold at an average price of $28.37, for a total transaction of $1,418,500.00. Following the sale, the general counsel now directly owns 3,252 shares in the company, valued at $92,259.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel John R. Moore sold 20,922 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $27.63, for a total transaction of $578,074.86. Following the completion of the sale, the general counsel now directly owns 3,252 shares of the company’s stock, valued at approximately $89,852.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 278,176 shares of company stock worth $7,893,316 over the last 90 days. 24.11% of the stock is owned by insiders.

Edgewise Therapeutics Stock Up 1.1 %

Shares of Edgewise Therapeutics stock opened at $34.81 on Thursday. Edgewise Therapeutics, Inc. has a 52-week low of $5.12 and a 52-week high of $36.66. The company has a 50 day moving average of $23.87 and a 200 day moving average of $20.09. The company has a market capitalization of $3.25 billion, a P/E ratio of -22.08 and a beta of 0.20.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.02. As a group, research analysts anticipate that Edgewise Therapeutics, Inc. will post -1.47 earnings per share for the current fiscal year.

About Edgewise Therapeutics

Edgewise Therapeutics, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of muscle disorders. Its lead product candidate, EDG-5506, an orally administered small molecule that is in Phase II clinical trials, designed to address the root cause of dystrophinopathies including Duchenne muscular dystrophy and Becker muscular dystrophy.