American Century Companies Inc. Trims Stock Holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

American Century Companies Inc. lessened its stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 17.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 770,353 shares of the company's stock after selling 164,034 shares during the period. American Century Companies Inc. owned 0.81% of Edgewise Therapeutics worth $20,568,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its stake in Edgewise Therapeutics by 74.8% in the 3rd quarter. Janus Henderson Group PLC now owns 4,558,519 shares of the company's stock worth $121,616,000 after acquiring an additional 1,951,220 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Edgewise Therapeutics in the third quarter valued at approximately $6,466,000. Amundi grew its stake in Edgewise Therapeutics by 127.2% in the fourth 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. JPMorgan Chase & Co. increased its holdings in Edgewise Therapeutics by 146.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 158,506 shares of the company's stock worth $4,231,000 after purchasing an additional 94,147 shares during the period. Finally, HighVista Strategies LLC bought a new stake in Edgewise Therapeutics during the 3rd quarter valued at $2,371,000.

Analyst Ratings Changes

EWTX has been the topic of a number of recent research reports. Stifel Nicolaus initiated coverage on Edgewise Therapeutics in a research report on Wednesday, January 22nd. They set a "hold" rating and a $30.00 price target on the stock. Scotiabank cut shares of Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the stock from $50.00 to $14.00 in a report on Wednesday. Royal Bank of Canada reduced their price target on shares of Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating for the company in a report on Thursday. Piper Sandler reiterated an "overweight" rating and set a $51.00 price objective on shares of Edgewise Therapeutics in a research note on Wednesday. Finally, Evercore ISI lifted their price objective on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the company an "outperform" rating in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Edgewise Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $40.38.

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Insider Transactions at Edgewise Therapeutics

In other news, CEO Kevin Koch sold 8,636 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $30.03, for a total transaction of $259,339.08. Following the transaction, the chief executive officer now owns 14,478 shares in the company, valued at $434,774.34. This represents a 37.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Joanne M. Donovan sold 25,000 shares of Edgewise Therapeutics stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $27.63, for a total transaction of $690,750.00. Following the completion of the sale, the chief marketing officer now owns 16,358 shares of the company's stock, valued at $451,971.54. This trade represents a 60.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,836 shares of company stock valued at $986,245 in the last quarter. 24.11% of the stock is currently owned by corporate insiders.

Edgewise Therapeutics Trading Down 12.5 %

Shares of NASDAQ:EWTX traded down $1.94 during trading on Thursday, reaching $13.58. The stock had a trading volume of 7,734,221 shares, compared to its average volume of 1,061,541. The firm's 50-day simple moving average is $25.54 and its 200 day simple moving average is $28.44. Edgewise Therapeutics, Inc. has a one year low of $12.18 and a one year high of $38.12. The company has a market capitalization of $1.29 billion, a P/E ratio of -9.05 and a beta of 0.22.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its earnings results on Monday, March 3rd. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.03). Equities research analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

About Edgewise Therapeutics

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.