American Century Companies Inc. Raises Holdings in Edgewise Therapeutics, Inc. $EWTX

American Century Companies Inc. boosted its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 1.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 779,766 shares of the company’s stock after acquiring an additional 9,413 shares during the quarter. American Century Companies Inc. owned 0.74% of Edgewise Therapeutics worth $17,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Baker BROS. Advisors LP boosted its holdings in Edgewise Therapeutics by 5.4% during the 4th quarter. Baker BROS. Advisors LP now owns 6,155,940 shares of the company’s stock valued at $164,364,000 after acquiring an additional 315,881 shares during the period. Janus Henderson Group PLC boosted its holdings in Edgewise Therapeutics by 9.3% during the 4th quarter. Janus Henderson Group PLC now owns 4,983,940 shares of the company’s stock valued at $133,044,000 after acquiring an additional 425,421 shares during the period. Paradigm Biocapital Advisors LP boosted its holdings in Edgewise Therapeutics by 61.1% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 4,493,929 shares of the company’s stock valued at $119,988,000 after acquiring an additional 1,704,757 shares during the period. Braidwell LP boosted its holdings in Edgewise Therapeutics by 19.1% during the 4th quarter. Braidwell LP now owns 2,332,196 shares of the company’s stock valued at $62,270,000 after acquiring an additional 373,886 shares during the period. Finally, Deerfield Management Company L.P. Series C boosted its holdings in Edgewise Therapeutics by 16.7% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 2,078,509 shares of the company’s stock valued at $55,496,000 after acquiring an additional 297,503 shares during the period.

Insider Transactions at Edgewise Therapeutics

In other news, insider Alan J. Russell sold 1,907 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total value of $25,534.73. Following the completion of the transaction, the insider owned 23,400 shares of the company’s stock, valued at approximately $313,326. This represents a 7.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin Koch sold 7,972 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total value of $106,745.08. Following the completion of the transaction, the chief executive officer directly owned 30,615 shares of the company’s stock, valued at $409,934.85. This represents a 20.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,267 shares of company stock worth $217,815 over the last 90 days. 23.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

EWTX has been the subject of several analyst reports. Raymond James Financial initiated coverage on Edgewise Therapeutics in a report on Wednesday, July 30th. They set a “strong-buy” rating and a $46.00 target price for the company. Guggenheim initiated coverage on Edgewise Therapeutics in a report on Wednesday, April 30th. They issued a “buy” rating and a $41.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on Edgewise Therapeutics from $40.00 to $30.00 and set an “overweight” rating for the company in a report on Tuesday, August 19th. Royal Bank Of Canada increased their price objective on Edgewise Therapeutics from $48.00 to $49.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Finally, HC Wainwright initiated coverage on Edgewise Therapeutics in a report on Monday, June 30th. They issued a “buy” rating and a $42.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.55.

Edgewise Therapeutics Stock Performance

Shares of NASDAQ:EWTX opened at $14.85 on Monday. Edgewise Therapeutics, Inc. has a 52-week low of $10.60 and a 52-week high of $38.12. The firm has a market capitalization of $1.56 billion, a P/E ratio of -9.58 and a beta of 0.26. The stock has a 50 day moving average price of $13.79 and a 200-day moving average price of $17.04.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its earnings results on Thursday, August 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.08. On average, equities analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 EPS 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.