Perceptive Advisors LLC Has $110.63 Million Stock Position in Edgewise Therapeutics, Inc. $EWTX

Perceptive Advisors LLC grew its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 17.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,457,974 shares of the company’s stock after purchasing an additional 662,080 shares during the period. Edgewise Therapeutics makes up 2.0% of Perceptive Advisors LLC’s investment portfolio, making the stock its 12th biggest holding. Perceptive Advisors LLC’s holdings in Edgewise Therapeutics were worth $110,625,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board acquired a new position in shares of Edgewise Therapeutics during the second quarter valued at about $45,000. Jones Financial Companies Lllp acquired a new position in shares of Edgewise Therapeutics during the first quarter valued at about $47,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Edgewise Therapeutics by 23.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,854 shares of the company’s stock valued at $71,000 after purchasing an additional 550 shares during the period. Strs Ohio acquired a new position in shares of Edgewise Therapeutics during the first quarter valued at about $84,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Edgewise Therapeutics by 48.9% during the second quarter. BNP Paribas Financial Markets now owns 8,193 shares of the company’s stock valued at $107,000 after purchasing an additional 2,689 shares during the period.

Edgewise Therapeutics Price Performance

EWTX opened at $34.82 on Thursday. Edgewise Therapeutics, Inc. has a fifty-two week low of $12.15 and a fifty-two week high of $40.76. The firm has a market capitalization of $3.75 billion, a PE ratio of -20.98 and a beta of 0.27. The company’s 50-day moving average is $33.79 and its 200 day moving average is $29.86.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, May 7th. The company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.04. As a group, analysts expect that Edgewise Therapeutics, Inc. will post -2.01 EPS for the current year.

Insider Buying and Selling at Edgewise Therapeutics

In related news, CMO Joanne M. Donovan sold 50,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $38.57, for a total value of $1,928,500.00. Following the sale, the chief marketing officer owned 4,367 shares in the company, valued at $168,435.19. This represents a 91.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders have sold 83,892 shares of company stock valued at $3,018,216. Corporate insiders own 21.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EWTX shares. HC Wainwright reiterated a “buy” rating and set a $45.00 price objective on shares of Edgewise Therapeutics in a report on Tuesday. The Goldman Sachs Group upped their price objective on shares of Edgewise Therapeutics from $20.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday. Stifel Nicolaus set a $25.00 target price on shares of Edgewise Therapeutics in a research report on Thursday, February 26th. JPMorgan Chase & Co. upped their target price on shares of Edgewise Therapeutics from $34.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, March 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, six 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 presently has an average rating of “Moderate Buy” and a consensus price target of $47.30.

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.