Novo Holdings A S Sells 794,530 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Novo Holdings A S lowered its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 12.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,549,900 shares of the company's stock after selling 794,530 shares during the period. Edgewise Therapeutics accounts for 7.4% of Novo Holdings A S's portfolio, making the stock its 4th largest holding. Novo Holdings A S owned 5.94% of Edgewise Therapeutics worth $148,127,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EWTX. RA Capital Management L.P. acquired a new position in shares of Edgewise Therapeutics during the 1st quarter valued at about $162,502,000. Baker BROS. Advisors LP grew its holdings in Edgewise Therapeutics by 87.6% during the first quarter. Baker BROS. Advisors LP now owns 5,840,059 shares of the company's stock valued at $106,523,000 after purchasing an additional 2,727,273 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Edgewise Therapeutics by 89.0% in the first quarter. Vanguard Group Inc. now owns 4,017,433 shares of the company's stock valued at $73,278,000 after purchasing an additional 1,892,053 shares during the period. Frazier Life Sciences Management L.P. raised its position in shares of Edgewise Therapeutics by 12.9% in the second quarter. Frazier Life Sciences Management L.P. now owns 3,731,067 shares of the company's stock valued at $67,197,000 after purchasing an additional 427,500 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of Edgewise Therapeutics by 48.6% in the first quarter. Janus Henderson Group PLC now owns 1,805,312 shares of the company's stock worth $32,898,000 after buying an additional 590,299 shares during the last quarter.

Insiders Place Their Bets

In other news, CFO R Michael Carruthers sold 125,092 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $28.57, for a total value of $3,573,878.44. Following the completion of the transaction, the chief financial officer now owns 6,904 shares in the company, valued at approximately $197,247.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Edgewise Therapeutics news, insider Alan J. Russell sold 75,000 shares of the company's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $28.27, for a total value of $2,120,250.00. Following the sale, the insider now directly owns 12,719 shares in the company, valued at $359,566.13. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO R Michael Carruthers sold 125,092 shares of Edgewise Therapeutics stock in a transaction on Friday, September 20th. The shares were sold at an average price of $28.57, for a total value of $3,573,878.44. Following the transaction, the chief financial officer now directly owns 6,904 shares of the company's stock, valued at approximately $197,247.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 278,176 shares of company stock worth $7,893,316 over the last 90 days. Corporate insiders own 24.11% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Monday, August 12th. 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 restated an "outperform" rating and set a $32.00 target price on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. Piper Sandler lifted their price target 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, Wedbush reiterated an "outperform" rating and set a $31.00 price target on shares of Edgewise Therapeutics in a report on Friday, August 16th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $35.60.

Edgewise Therapeutics Trading Up 1.0 %

EWTX stock traded up $0.36 during trading on Friday, reaching $34.98. 497,098 shares of the stock were exchanged, compared to its average volume of 1,082,823. Edgewise Therapeutics, Inc. has a twelve month low of $5.12 and a twelve month high of $36.66. The company has a market capitalization of $3.28 billion, a P/E ratio of -22.57 and a beta of 0.20. The stock has a 50 day simple moving average of $24.87 and a 200-day simple moving average of $20.48.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its quarterly earnings data 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 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.