Healthcare of Ontario Pension Plan Trust Fund Sells 236,200 Shares of Edgewise Therapeutics, Inc. $EWTX

Healthcare of Ontario Pension Plan Trust Fund decreased its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 36.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 404,200 shares of the company’s stock after selling 236,200 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Edgewise Therapeutics were worth $12,732,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Sei Investments Co. grew its holdings in shares of Edgewise Therapeutics by 57.1% in the first quarter. Sei Investments Co. now owns 49,082 shares of the company’s stock valued at $1,546,000 after acquiring an additional 17,832 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Edgewise Therapeutics during the first quarter valued at approximately $288,000. Dimensional Fund Advisors LP lifted its holdings in Edgewise Therapeutics by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,219,717 shares of the company’s stock worth $38,413,000 after acquiring an additional 6,060 shares during the period. Parallel Advisors LLC lifted its holdings in Edgewise Therapeutics by 64.9% during the first quarter. Parallel Advisors LLC now owns 1,032 shares of the company’s stock worth $33,000 after acquiring an additional 406 shares during the period. Finally, AlphaCentric Advisors LLC boosted its position in Edgewise Therapeutics by 6.2% in the first quarter. AlphaCentric Advisors LLC now owns 15,615 shares of the company’s stock worth $492,000 after purchasing an additional 912 shares during the last quarter.

Edgewise Therapeutics Price Performance

Shares of NASDAQ EWTX opened at $41.60 on Tuesday. Edgewise Therapeutics, Inc. has a one year low of $12.30 and a one year high of $48.40. The business’s fifty day moving average price is $37.88 and its 200-day moving average price is $33.13. The stock has a market capitalization of $4.48 billion, a PE ratio of -25.06 and a beta of 0.27.

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

Insider Activity

In other Edgewise Therapeutics news, insider Alan J. Russell sold 200,000 shares of the stock in a transaction dated 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 owned 24,555 shares in the company, valued at $967,712.55. This trade represents a 89.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Joanne M. Donovan sold 50,000 shares of Edgewise Therapeutics stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $38.57, for a total transaction of $1,928,500.00. Following the completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 255,230 shares of company stock worth $9,974,147. Insiders own 21.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on EWTX. Evercore restated an “outperform” rating and issued a $55.00 price objective on shares of Edgewise Therapeutics in a research note on Monday, July 20th. Royal Bank Of Canada increased their price target on shares of Edgewise Therapeutics from $48.00 to $59.00 and gave the company an “outperform” rating in a research report on Wednesday, June 17th. Guggenheim lifted their price objective on shares of Edgewise Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Friday, July 17th. Finally, Truist Financial set a $52.00 price target on shares of Edgewise Therapeutics in a research note on Wednesday, May 6th. One equities research 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 issued a Sell rating to the company. According to MarketBeat, Edgewise Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $48.75.

Edgewise Therapeutics 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.