Healthcare of Ontario Pension Plan Trust Fund Sells 236,200 Shares of Edgewise Therapeutics, Inc. $EWTX

Healthcare of Ontario Pension Plan Trust Fund reduced its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 36.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 404,200 shares of the company’s stock after selling 236,200 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.38% of Edgewise Therapeutics worth $12,732,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Orbimed Advisors LLC boosted its holdings in shares of Edgewise Therapeutics by 3.3% during the 2nd quarter. Orbimed Advisors LLC now owns 15,518,492 shares of the company’s stock worth $203,447,000 after buying an additional 496,771 shares in the last quarter. RA Capital Management L.P. increased its stake in shares of Edgewise Therapeutics by 5.3% in the 3rd quarter. RA Capital Management L.P. now owns 10,428,437 shares of the company’s stock valued at $169,149,000 after acquiring an additional 525,804 shares in the last quarter. Paradigm Biocapital Advisors LP increased its stake in shares of Edgewise Therapeutics by 6.0% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 6,541,210 shares of the company’s stock valued at $162,320,000 after acquiring an additional 371,079 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Edgewise Therapeutics by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 4,871,624 shares of the company’s stock valued at $120,889,000 after acquiring an additional 67,683 shares during the period. Finally, Siren L.L.C. lifted its position in shares of Edgewise Therapeutics by 16.2% during the 4th quarter. Siren L.L.C. now owns 4,529,990 shares of the company’s stock valued at $112,412,000 after acquiring an additional 632,891 shares during the period.

Insider Activity

In other Edgewise Therapeutics news, CMO Joanne M. Donovan sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $38.57, for a total transaction of $1,928,500.00. Following the completion of the sale, the chief marketing officer directly owned 4,367 shares of the company’s stock, valued at approximately $168,435.19. The trade was a 91.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alan J. Russell sold 200,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $39.41, for a total value of $7,882,000.00. Following the completion of the sale, the insider directly owned 24,555 shares of the company’s stock, valued at approximately $967,712.55. This trade represents a 89.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 255,230 shares of company stock worth $9,974,147. 21.30% of the stock is owned by insiders.

Edgewise Therapeutics Trading Up 1.9%

EWTX opened at $41.60 on Tuesday. Edgewise Therapeutics, Inc. has a 1-year low of $12.30 and a 1-year high of $48.40. The company has a market cap of $4.48 billion, a price-to-earnings ratio of -25.06 and a beta of 0.27. The company’s fifty day moving average price is $37.88 and its two-hundred day moving average price is $33.13.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.04. As a group, equities analysts forecast that Edgewise Therapeutics, Inc. will post -2.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Guggenheim raised their price target on shares of Edgewise Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Wedbush upped their price objective on shares of Edgewise Therapeutics from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Oppenheimer started coverage on shares of Edgewise Therapeutics in a research report on Thursday, July 9th. They set an “outperform” rating and a $51.00 price objective on the stock. The Goldman Sachs Group raised their target price on Edgewise Therapeutics from $20.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, June 17th. Finally, Truist Financial set a $52.00 target price on Edgewise Therapeutics in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Edgewise Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $48.75.

Edgewise Therapeutics Company Profile

Edgewise Therapeutics, Inc (NASDAQ: EWTX) is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the discovery and development of precision medicines for the treatment of rare diseases. The company leverages its expertise in small-molecule chemistry and ion channel biology to address severe, unmet medical needs, particularly in the areas of kidney disorders and neuromuscular diseases.

At the core of Edgewise’s pipeline is EWTX-101, a novel, orally available inhibitor of TRPC5, a calcium channel implicated in nephrotic syndromes such as focal segmental glomerulosclerosis (FSGS) and other proteinuric kidney diseases.