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

American Century Companies Inc. lifted its holdings in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 53.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 860,067 shares of the company’s stock after buying an additional 300,733 shares during the period. American Century Companies Inc. owned approximately 0.92% of Edgewise Therapeutics worth $15,490,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Swiss National Bank acquired a new stake in Edgewise Therapeutics during the 4th quarter worth approximately $548,000. Trexquant Investment LP purchased a new stake in shares of Edgewise Therapeutics during the fourth quarter worth approximately $608,000. Sectoral Asset Management Inc. acquired a new stake in shares of Edgewise Therapeutics during the fourth quarter worth $3,586,000. Pale Fire Capital SE grew its position in Edgewise Therapeutics by 529.3% in the 4th quarter. Pale Fire Capital SE now owns 98,449 shares of the company’s stock valued at $1,077,000 after buying an additional 82,804 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. increased its stake in Edgewise Therapeutics by 214.2% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 2,667,203 shares of the company’s stock valued at $29,179,000 after buying an additional 1,818,181 shares during the period.

Edgewise Therapeutics Stock Performance

Shares of EWTX stock opened at $28.28 on Friday. The stock has a fifty day moving average price of $18.99 and a 200 day moving average price of $18.12. The stock has a market cap of $2.64 billion, a PE ratio of -18.25 and a beta of 0.15. Edgewise Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $30.00.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.02. As a group, equities research analysts predict that Edgewise Therapeutics, Inc. will post -1.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EWTX. Wedbush reaffirmed an “outperform” rating and issued a $31.00 target price on shares of Edgewise Therapeutics in a report on Friday, August 16th. Piper Sandler reissued an “overweight” rating and set a $48.00 target price on shares of Edgewise Therapeutics in a research note on Monday, July 1st. Truist Financial lifted their price target on Edgewise Therapeutics from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $32.00 price objective on shares of Edgewise Therapeutics in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $35.00.

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.