Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 58.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 205,321 shares of the company’s stock after selling 288,526 shares during the quarter. Wellington Management Group LLP’s holdings in Edgewise Therapeutics were worth $5,480,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Novo Holdings A S acquired a new position in Edgewise Therapeutics during the 2nd quarter worth $114,263,000. Janus Henderson Group PLC boosted its stake in shares of Edgewise Therapeutics by 74.8% in the 3rd 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. Frazier Life Sciences Management L.P. boosted its stake in shares of Edgewise Therapeutics by 12.9% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,731,067 shares of the company’s stock valued at $67,197,000 after buying an additional 427,500 shares during the period. Braidwell LP acquired a new position in shares of Edgewise Therapeutics during the third quarter worth about $52,267,000. Finally, State Street Corp increased its stake in shares of Edgewise Therapeutics by 1.2% during the third quarter. State Street Corp now owns 1,685,115 shares of the company’s stock worth $44,976,000 after buying an additional 20,020 shares during the period.

Insider Activity

In other Edgewise Therapeutics news, CFO R Michael Carruthers sold 125,092 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $28.57, for a total transaction of $3,573,878.44. Following the completion of the sale, the chief financial officer now directly owns 6,904 shares of the company’s stock, valued at approximately $197,247.28. This trade represents a 94.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel John R. Moore sold 20,922 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $27.63, for a total value of $578,074.86. Following the completion of the transaction, the general counsel now directly owns 3,252 shares in the company, valued at approximately $89,852.76. The trade was a 86.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 278,176 shares of company stock valued at $7,893,316 in the last ninety days. 24.11% of the stock is currently owned by company insiders.

Edgewise Therapeutics Stock Performance

EWTX opened at $32.69 on Tuesday. Edgewise Therapeutics, Inc. has a one year low of $6.82 and a one year high of $38.12. The stock has a market capitalization of $3.10 billion, a P/E ratio of -21.79 and a beta of 0.12. The business’s 50-day simple moving average is $32.79 and its 200-day simple moving average is $24.30.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.01. On average, equities research analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Analyst Ratings Changes

EWTX has been the subject of a number of recent research reports. Truist Financial lifted their price target on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Wedbush boosted their target price on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and issued a $32.00 price target on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. Piper Sandler upped their price objective on Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Evercore ISI started coverage on Edgewise Therapeutics in a research report on Friday, November 22nd. They set an “outperform” rating and a $45.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Edgewise Therapeutics currently has a consensus rating of “Buy” and an average target price of $42.33.

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.