Driehaus Capital Management LLC Sells 7,427 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Driehaus Capital Management LLC lowered its position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,260,392 shares of the company’s stock after selling 7,427 shares during the quarter. Driehaus Capital Management LLC owned approximately 1.35% of Edgewise Therapeutics worth $22,700,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quest Partners LLC raised its position in shares of Edgewise Therapeutics by 156.9% during the second quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock worth $31,000 after acquiring an additional 1,064 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Edgewise Therapeutics during the second quarter worth $35,000. Ameritas Investment Partners Inc. raised its position in shares of Edgewise Therapeutics by 37.3% during the first quarter. Ameritas Investment Partners Inc. now owns 5,751 shares of the company’s stock worth $105,000 after acquiring an additional 1,561 shares during the last quarter. Arizona State Retirement System bought a new stake in shares of Edgewise Therapeutics during the second quarter worth $188,000. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Edgewise Therapeutics during the second quarter worth $193,000.

Insider Transactions at Edgewise Therapeutics

In other news, insider Alan J. Russell sold 75,000 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $28.27, for a total transaction of $2,120,250.00. Following the completion of the transaction, the insider now directly owns 12,719 shares of the company’s stock, valued at $359,566.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Alan J. Russell sold 75,000 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $28.27, for a total transaction of $2,120,250.00. Following the completion of the transaction, the insider now directly owns 12,719 shares of the company’s stock, valued at $359,566.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Joanne M. Donovan sold 7,162 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $28.29, for a total value of $202,612.98. Following the transaction, the chief marketing officer now directly owns 14,538 shares of the company’s stock, valued at $411,280.02. The disclosure for this sale can be found here. Insiders sold 278,176 shares of company stock valued at $7,893,316 over the last three months. Company insiders own 24.11% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on EWTX. Piper Sandler reaffirmed an “overweight” rating and set a $48.00 price objective on shares of Edgewise Therapeutics in a research note on Monday, July 1st. Truist Financial lifted their price objective on Edgewise Therapeutics from $25.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $32.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. JPMorgan Chase & Co. lifted their price objective on Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Finally, Wedbush reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Edgewise Therapeutics in a research note on Friday, August 16th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $35.00.

Edgewise Therapeutics Trading Up 0.4 %

NASDAQ:EWTX opened at $26.09 on Friday. Edgewise Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $30.00. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of -16.83 and a beta of 0.15. The stock has a 50-day moving average price of $19.42 and a two-hundred day moving average price of $18.44.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.02. Sell-side analysts forecast that Edgewise Therapeutics, Inc. will post -1.47 earnings per share for the current year.

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.