Candriam S.C.A. Decreases Stake in Edgewise Therapeutics, Inc. $EWTX

Candriam S.C.A. cut its holdings in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 10.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 447,416 shares of the company’s stock after selling 53,798 shares during the quarter. Candriam S.C.A.’s holdings in Edgewise Therapeutics were worth $14,094,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. SG Americas Securities LLC grew its stake in Edgewise Therapeutics by 797.9% in the 4th quarter. SG Americas Securities LLC now owns 88,723 shares of the company’s stock valued at $2,202,000 after buying an additional 78,842 shares in the last quarter. HighVista Strategies LLC grew its position in shares of Edgewise Therapeutics by 198.5% in the third quarter. HighVista Strategies LLC now owns 208,101 shares of the company’s stock valued at $3,375,000 after purchasing an additional 138,378 shares in the last quarter. Aberdeen Group plc raised its stake in shares of Edgewise Therapeutics by 32.6% during the 4th quarter. Aberdeen Group plc now owns 821,940 shares of the company’s stock valued at $20,396,000 after purchasing an additional 202,062 shares during the period. UBS Group AG raised its stake in shares of Edgewise Therapeutics by 1,755.0% during the 4th quarter. UBS Group AG now owns 2,117,073 shares of the company’s stock valued at $52,535,000 after purchasing an additional 2,002,945 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Edgewise Therapeutics by 104.8% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 271,385 shares of the company’s stock worth $6,734,000 after purchasing an additional 138,882 shares in the last quarter.

Wall Street Analyst Weigh In

EWTX has been the subject of several analyst reports. Wedbush raised their target price on Edgewise Therapeutics from $46.00 to $52.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Leerink Partners set a $52.00 price target on shares of Edgewise Therapeutics in a report on Tuesday, June 16th. Guggenheim increased their target price on shares of Edgewise Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Monday, April 20th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $66.00 price target on shares of Edgewise Therapeutics in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.92.

Insider Buying and Selling

In other news, insider Alan J. Russell sold 200,000 shares of Edgewise Therapeutics stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $39.41, for a total transaction of $7,882,000.00. Following the completion of the transaction, the insider directly owned 24,555 shares in the company, valued at approximately $967,712.55. This trade represents a 89.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Joanne M. Donovan sold 50,000 shares of Edgewise Therapeutics 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 transaction, the chief marketing officer owned 4,367 shares of the company’s stock, valued at $168,435.19. The trade was a 91.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 255,230 shares of company stock valued at $9,974,147 in the last ninety days. Insiders own 21.30% of the company’s stock.

Edgewise Therapeutics Price Performance

NASDAQ:EWTX opened at $45.41 on Monday. The firm’s 50-day moving average price is $36.67 and its 200-day moving average price is $31.96. The company has a market capitalization of $4.89 billion, a PE ratio of -27.36 and a beta of 0.27. Edgewise Therapeutics, Inc. has a 1-year low of $12.30 and a 1-year high of $48.40.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.04. Equities analysts anticipate that Edgewise Therapeutics, Inc. will post -2.01 EPS for the current fiscal year.

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.