Handelsbanken Fonder AB Increases Stake in Edgewise Therapeutics, Inc. $EWTX

Handelsbanken Fonder AB lifted its stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 31.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,700 shares of the company’s stock after buying an additional 6,900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Edgewise Therapeutics were worth $376,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Light Asset Management LLC increased its holdings in Edgewise Therapeutics by 137.3% in the 1st quarter. First Light Asset Management LLC now owns 1,852,290 shares of the company’s stock valued at $40,750,000 after acquiring an additional 1,071,651 shares during the last quarter. Siren L.L.C. increased its holdings in shares of Edgewise Therapeutics by 131.0% in the first quarter. Siren L.L.C. now owns 1,696,444 shares of the company’s stock worth $37,322,000 after purchasing an additional 962,101 shares during the last quarter. Cormorant Asset Management LP increased its holdings in shares of Edgewise Therapeutics by 20.4% in the first quarter. Cormorant Asset Management LP now owns 4,101,992 shares of the company’s stock worth $90,244,000 after purchasing an additional 695,458 shares during the last quarter. Eventide Asset Management LLC bought a new position in Edgewise Therapeutics during the first quarter valued at approximately $12,503,000. Finally, Woodline Partners LP boosted its stake in Edgewise Therapeutics by 93.4% during the first quarter. Woodline Partners LP now owns 1,096,809 shares of the company’s stock valued at $24,130,000 after buying an additional 529,591 shares during the last quarter.

Insider Activity

In related news, Director Jonathan C. Fox bought 10,700 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were acquired at an average cost of $18.64 per share, for a total transaction of $199,448.00. Following the purchase, the director directly owned 23,702 shares of the company’s stock, valued at approximately $441,805.28. The trade was a 82.30% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alan J. Russell sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $21.12, for a total transaction of $2,112,000.00. Following the transaction, the insider directly owned 23,400 shares in the company, valued at approximately $494,208. This trade represents a 81.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 23.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EWTX. Wall Street Zen raised Edgewise Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Wedbush reduced their price target on shares of Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating on the stock in a research report on Friday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Edgewise Therapeutics in a research report on Wednesday, October 8th. The Goldman Sachs Group started coverage on shares of Edgewise Therapeutics in a research report on Thursday, September 25th. They set a “neutral” rating and a $20.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their price target on Edgewise Therapeutics from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.27.

Edgewise Therapeutics Stock Up 1.5%

EWTX opened at $25.91 on Monday. The business has a fifty day moving average of $17.94 and a 200 day moving average of $15.51. The stock has a market cap of $2.74 billion, a P/E ratio of -16.40 and a beta of 0.26. Edgewise Therapeutics, Inc. has a 52-week low of $10.60 and a 52-week high of $35.50.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Thursday, November 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. Equities analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Edgewise Therapeutics Company Profile

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.