Lisanti Capital Growth LLC Acquires New Position in Edgewise Therapeutics, Inc. $EWTX

Lisanti Capital Growth LLC acquired a new stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) in the 3rd quarter, Holdings Channel reports. The fund acquired 87,845 shares of the company’s stock, valued at approximately $3,567,000.

Several other large investors also recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Edgewise Therapeutics during the 2nd quarter worth approximately $268,415,000. Jupiter Topco LLC purchased a new position in shares of Edgewise Therapeutics in the second quarter worth $246,945,000. Janus Henderson Group PLC raised its holdings in shares of Edgewise Therapeutics by 29.5% in the first quarter. Janus Henderson Group PLC now owns 5,915,556 shares of the company’s stock worth $186,289,000 after buying an additional 1,348,706 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Edgewise Therapeutics in the second quarter worth $63,312,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Edgewise Therapeutics by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,219,717 shares of the company’s stock valued at $38,413,000 after buying an additional 6,060 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen raised Edgewise Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, October 4th. HC Wainwright reaffirmed a “buy” rating on shares of Edgewise Therapeutics in a research report on Wednesday, October 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Thursday, October 15th. Wedbush cut their price objective on Edgewise Therapeutics from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Thursday, November 5th. Finally, Raymond James Financial reissued an “underperform” rating and issued a $85.00 price objective on shares of Edgewise Therapeutics in a report on Thursday, November 5th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.83.

Edgewise Therapeutics Trading Up 2.2%

Shares of NASDAQ EWTX opened at $47.57 on Thursday. Edgewise Therapeutics, Inc. has a 12 month low of $19.76 and a 12 month high of $48.78. The company has a 50 day simple moving average of $41.18 and a two-hundred day simple moving average of $36.81. The stock has a market cap of $5.21 billion, a price-to-earnings ratio of 5.81 and a beta of 0.39.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings data on Wednesday, November 4th. The company reported $9.65 EPS for the quarter, beating the consensus estimate of ($0.53) by $10.18. Analysts forecast that Edgewise Therapeutics, Inc. will post 6.92 EPS for the current year.

Insider Activity

In related news, CFO Michael Nofi sold 4,442 shares of the business’s stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $45.43, for a total transaction of $201,800.06. Following the completion of the transaction, the chief financial officer directly owned 6,495 shares in the company, valued at $295,067.85. The trade was a 40.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 21.30% of the stock is currently owned by company insiders.

About Edgewise Therapeutics

Edgewise Therapeutics is a clinical-stage biopharmaceutical company focused on developing therapies for serious muscle disorders. Founded in 2017 and based in Boulder, Colorado, the company researches small-molecule treatments designed to address the underlying biology of muscle and cardiac conditions. Its programs include sevasemten, an investigational therapy for Duchenne and Becker muscular dystrophies, and EDG-7500, an investigational treatment being developed for hypertrophic cardiomyopathy.