Edgewise Therapeutics, Inc. $EWTX Shares Sold by Granahan Investment Management LLC

Granahan Investment Management LLC decreased its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 13.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 200,843 shares of the company’s stock after selling 31,452 shares during the period. Granahan Investment Management LLC’s holdings in Edgewise Therapeutics were worth $6,327,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Optimize Financial Inc boosted its position in shares of Edgewise Therapeutics by 1.5% during the fourth quarter. Optimize Financial Inc now owns 27,679 shares of the company’s stock worth $687,000 after buying an additional 396 shares during the period. Parallel Advisors LLC increased its position in Edgewise Therapeutics by 64.9% in the 1st quarter. Parallel Advisors LLC now owns 1,032 shares of the company’s stock valued at $33,000 after acquiring an additional 406 shares during the period. Steward Partners Investment Advisory LLC raised its stake in Edgewise Therapeutics by 23.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,854 shares of the company’s stock valued at $71,000 after acquiring an additional 550 shares in the last quarter. California State Teachers Retirement System raised its stake in Edgewise Therapeutics by 2.4% during the 2nd quarter. California State Teachers Retirement System now owns 36,878 shares of the company’s stock valued at $483,000 after acquiring an additional 850 shares in the last quarter. Finally, AlphaCentric Advisors LLC boosted its position in Edgewise Therapeutics by 6.2% during the 1st quarter. AlphaCentric Advisors LLC now owns 15,615 shares of the company’s stock worth $492,000 after acquiring an additional 912 shares during the period.

Analysts Set New Price Targets

Several research analysts have recently issued reports on EWTX shares. Truist Financial set a $52.00 price target on Edgewise Therapeutics in a research note on Wednesday, May 6th. Royal Bank Of Canada lifted their price objective on shares of Edgewise Therapeutics from $48.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, June 17th. Evercore reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Edgewise Therapeutics in a report on Monday. Wedbush increased their target price on shares of Edgewise Therapeutics from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Finally, Oppenheimer initiated coverage on shares of Edgewise Therapeutics in a research report on Thursday, July 9th. They issued an “outperform” rating and a $51.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Edgewise Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $48.75.

Edgewise Therapeutics Trading Up 3.9%

Shares of Edgewise Therapeutics stock opened at $40.84 on Friday. Edgewise Therapeutics, Inc. has a 52 week low of $12.30 and a 52 week high of $48.40. The stock has a market cap of $4.39 billion, a PE ratio of -24.60 and a beta of 0.27. The company’s 50-day moving average price is $37.68 and its two-hundred day moving average price is $32.93.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.04. On average, equities analysts predict that Edgewise Therapeutics, Inc. will post -2.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CMO Joanne M. Donovan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $38.57, for a total transaction of $1,928,500.00. Following the completion of the sale, the chief marketing officer directly owned 4,367 shares of the company’s stock, valued at $168,435.19. This represents a 91.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alan J. Russell sold 200,000 shares of the firm’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 sale, the insider owned 24,555 shares of the company’s stock, valued at $967,712.55. The trade was a 89.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 255,230 shares of company stock worth $9,974,147 over the last quarter. Insiders own 21.30% of the company’s stock.

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.