American Century Companies Inc. Buys 312,307 Shares of Edgewise Therapeutics, Inc. $EWTX

American Century Companies Inc. grew its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 39.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,095,473 shares of the company’s stock after acquiring an additional 312,307 shares during the period. American Century Companies Inc. owned about 1.03% of Edgewise Therapeutics worth $17,769,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of EWTX. Handelsbanken Fonder AB increased its holdings in Edgewise Therapeutics by 33.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 38,400 shares of the company’s stock worth $623,000 after purchasing an additional 9,700 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of Edgewise Therapeutics in the 3rd quarter worth $332,000. Quantum Private Wealth LLC grew its position in shares of Edgewise Therapeutics by 5.1% during the 3rd quarter. Quantum Private Wealth LLC now owns 105,874 shares of the company’s stock worth $1,717,000 after buying an additional 5,100 shares in the last quarter. GSA Capital Partners LLP grew its position in shares of Edgewise Therapeutics by 315.2% during the 3rd quarter. GSA Capital Partners LLP now owns 113,243 shares of the company’s stock worth $1,837,000 after buying an additional 85,967 shares in the last quarter. Finally, Aberdeen Group plc increased its stake in shares of Edgewise Therapeutics by 39.8% during the third quarter. Aberdeen Group plc now owns 619,878 shares of the company’s stock valued at $10,054,000 after buying an additional 176,559 shares during the period.

Insider Transactions at Edgewise Therapeutics

In other Edgewise Therapeutics news, Director Badreddin Edris sold 115,471 shares of the stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $29.44, for a total value of $3,399,466.24. Following the completion of the sale, the director directly owned 19,820 shares in the company, valued at approximately $583,500.80. This trade represents a 85.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 23.20% of the stock is owned by corporate insiders.

Edgewise Therapeutics Stock Up 2.2%

Shares of EWTX opened at $29.30 on Wednesday. The company has a 50 day moving average of $28.20 and a two-hundred day moving average of $21.99. Edgewise Therapeutics, Inc. has a twelve month low of $10.60 and a twelve month high of $31.82. The company has a market cap of $3.14 billion, a price-to-earnings ratio of -17.98 and a beta of 0.26.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.04). On average, sell-side analysts expect that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Wall Street Analyst Weigh In

EWTX has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Wednesday, January 21st. Wall Street Zen lowered shares of Edgewise Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Evercore reaffirmed an “outperform” rating and issued a $45.00 price target on shares of Edgewise Therapeutics in a research report on Thursday, February 26th. Piper Sandler reiterated an “overweight” rating on shares of Edgewise Therapeutics in a research note on Monday, February 9th. Finally, Stifel Nicolaus set a $25.00 price objective on shares of Edgewise Therapeutics in a report on Thursday, February 26th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.36.

Edgewise Therapeutics Company Profile

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.