Frazier Life Sciences Management L.P. Has $67.20 Million Stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Frazier Life Sciences Management L.P. lifted its position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 12.9% during the second quarter, Holdings Channel.com reports. The firm owned 3,731,067 shares of the company’s stock after purchasing an additional 427,500 shares during the period. Edgewise Therapeutics accounts for 3.1% of Frazier Life Sciences Management L.P.’s holdings, making the stock its 11th biggest position. Frazier Life Sciences Management L.P.’s holdings in Edgewise Therapeutics were worth $67,197,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in shares of Edgewise Therapeutics by 25.5% during the second quarter. The Manufacturers Life Insurance Company now owns 38,366 shares of the company’s stock worth $691,000 after purchasing an additional 7,786 shares during the period. Millennium Management LLC raised its position in shares of Edgewise Therapeutics by 115.2% during the second quarter. Millennium Management LLC now owns 1,145,506 shares of the company’s stock worth $20,631,000 after purchasing an additional 613,251 shares during the period. Dark Forest Capital Management LP bought a new stake in Edgewise Therapeutics during the second quarter worth $193,000. Squarepoint Ops LLC grew its holdings in Edgewise Therapeutics by 111.4% during the second quarter. Squarepoint Ops LLC now owns 52,541 shares of the company’s stock worth $946,000 after buying an additional 27,687 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in Edgewise Therapeutics by 661.2% during the second quarter. Marshall Wace LLP now owns 415,720 shares of the company’s stock worth $7,487,000 after buying an additional 361,103 shares in the last quarter.

Insider Transactions at Edgewise Therapeutics

In related news, General Counsel John R. Moore sold 20,922 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $27.63, for a total transaction of $578,074.86. Following the sale, the general counsel now owns 3,252 shares of the company’s stock, valued at approximately $89,852.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel John R. Moore sold 20,922 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $27.63, for a total transaction of $578,074.86. Following the sale, the general counsel now owns 3,252 shares of the company’s stock, valued at approximately $89,852.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Joanne M. Donovan sold 7,162 shares of the 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 sale, the chief marketing officer now directly owns 14,538 shares in the company, valued at approximately $411,280.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 278,176 shares of company stock worth $7,893,316. 24.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Edgewise Therapeutics Stock Performance

EWTX stock opened at $26.09 on Friday. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of -16.83 and a beta of 0.15. Edgewise Therapeutics, Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $30.00. The stock has a fifty day moving average of $19.42 and a 200-day moving average of $18.44.

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

Edgewise Therapeutics 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.