Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Shares Sold by Frazier Life Sciences Management L.P.

Frazier Life Sciences Management L.P. lowered its stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 24.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,832,867 shares of the company's stock after selling 898,200 shares during the quarter. Edgewise Therapeutics comprises about 3.0% of Frazier Life Sciences Management L.P.'s portfolio, making the stock its 12th biggest holding. Frazier Life Sciences Management L.P. owned about 2.99% of Edgewise Therapeutics worth $75,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of EWTX. Quest Partners LLC lifted 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 purchasing an additional 1,064 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Edgewise Therapeutics in the second quarter valued at $35,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Edgewise Therapeutics by 21.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company's stock valued at $88,000 after purchasing an additional 604 shares during the period. Chicago Partners Investment Group LLC purchased a new position in Edgewise Therapeutics in the third quarter valued at $161,000. Finally, US Bancorp DE grew its stake in Edgewise Therapeutics by 12,452.9% during the 3rd quarter. US Bancorp DE now owns 8,536 shares of the company's stock worth $228,000 after purchasing an additional 8,468 shares in the last quarter.

Edgewise Therapeutics Trading Down 2.6 %

Shares of Edgewise Therapeutics stock traded down $0.78 on Tuesday, hitting $29.46. The stock had a trading volume of 592,200 shares, compared to its average volume of 929,870. Edgewise Therapeutics, Inc. has a 52-week low of $6.44 and a 52-week high of $38.12. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of -20.24 and a beta of 0.12. The company's 50 day moving average price is $32.58 and its 200 day moving average price is $23.86.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.01. Analysts predict that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Insider Buying and Selling at Edgewise Therapeutics

In other Edgewise Therapeutics news, CFO R Michael Carruthers sold 125,092 shares of the company's 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 $197,247.28. This represents a 94.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel John R. Moore sold 20,922 shares of the company'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 sale, the general counsel now directly owns 3,252 shares of the company's stock, valued at approximately $89,852.76. This represents a 86.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 278,176 shares of company stock valued at $7,893,316 in the last ninety days. Insiders own 24.11% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wedbush boosted their target price on Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Evercore ISI initiated coverage on Edgewise Therapeutics in a research note on Friday, November 22nd. They set an "outperform" rating and a $45.00 target price for the company. Truist Financial lifted their price target on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Piper Sandler lifted their price target on Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Finally, JPMorgan Chase & Co. lifted 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. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Edgewise Therapeutics has a consensus rating of "Buy" and a consensus price target 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.