Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Shares Sold by American Century Companies Inc.

American Century Companies Inc. cut its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 17.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 770,353 shares of the company’s stock after selling 164,034 shares during the period. American Century Companies Inc. owned approximately 0.81% of Edgewise Therapeutics worth $20,568,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Janus Henderson Group PLC raised its position in Edgewise Therapeutics by 74.8% during the third quarter. Janus Henderson Group PLC now owns 4,558,519 shares of the company’s stock valued at $121,616,000 after buying an additional 1,951,220 shares during the period. State Street Corp increased its stake in shares of Edgewise Therapeutics by 1.2% in the third quarter. State Street Corp now owns 1,685,115 shares of the company’s stock worth $44,976,000 after acquiring an additional 20,020 shares during the last quarter. Parkman Healthcare Partners LLC boosted its position in Edgewise Therapeutics by 14.4% during the third quarter. Parkman Healthcare Partners LLC now owns 657,070 shares of the company’s stock valued at $17,537,000 after purchasing an additional 82,553 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Edgewise Therapeutics by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 537,359 shares of the company’s stock valued at $14,347,000 after purchasing an additional 15,273 shares in the last quarter. Finally, Amundi raised its stake in shares of Edgewise Therapeutics by 127.2% during the 4th quarter. Amundi now owns 341,687 shares of the company’s stock worth $8,686,000 after purchasing an additional 191,267 shares in the last quarter.

Edgewise Therapeutics Stock Performance

Shares of NASDAQ:EWTX opened at $23.27 on Monday. Edgewise Therapeutics, Inc. has a 52-week low of $14.90 and a 52-week high of $38.12. The company has a market cap of $2.22 billion, a P/E ratio of -15.51 and a beta of 0.22. The stock’s 50-day moving average is $26.27 and its 200-day moving average is $28.60.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.03). As a group, equities analysts predict that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Evercore ISI raised their price objective on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Scotiabank started coverage on Edgewise Therapeutics in a report on Friday, March 7th. They set a “sector outperform” rating and a $50.00 target price on the stock. Stifel Nicolaus initiated coverage on Edgewise Therapeutics in a research note on Wednesday, January 22nd. They set a “hold” rating and a $30.00 price target for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $56.00 price objective on shares of Edgewise Therapeutics in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.38.

Insider Activity at Edgewise Therapeutics

In other news, insider Alan J. Russell sold 1,200 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $30.13, for a total transaction of $36,156.00. Following the transaction, the insider now owns 14,863 shares in the company, valued at approximately $447,822.19. The trade was a 7.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CMO Joanne M. Donovan sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $27.63, for a total transaction of $690,750.00. Following the transaction, the chief marketing officer now directly owns 16,358 shares of the company’s stock, valued at $451,971.54. This represents a 60.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,836 shares of company stock worth $986,245 in the last ninety days. 24.11% of the stock is currently owned by insiders.

Edgewise Therapeutics Company Profile

Edgewise Therapeutics, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of muscle disorders. Its lead product candidate, EDG-5506, an orally administered small molecule that is in Phase II clinical trials, designed to address the root cause of dystrophinopathies including Duchenne muscular dystrophy and Becker muscular dystrophy.