Federated Hermes Inc. Decreases Stock Holdings in Edgewise Therapeutics, Inc. $EWTX

Federated Hermes Inc. reduced its position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 81.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,256 shares of the company’s stock after selling 257,244 shares during the period. Federated Hermes Inc. owned 0.06% of Edgewise Therapeutics worth $961,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of EWTX. Y Intercept Hong Kong Ltd purchased a new stake in Edgewise Therapeutics in the 3rd quarter worth approximately $929,000. SG Americas Securities LLC bought a new position in shares of Edgewise Therapeutics during the third quarter valued at approximately $160,000. HighMark Wealth Management LLC raised its holdings in shares of Edgewise Therapeutics by 2.1% during the third quarter. HighMark Wealth Management LLC now owns 53,179 shares of the company’s stock valued at $863,000 after acquiring an additional 1,114 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Edgewise Therapeutics by 11.2% in the second quarter. China Universal Asset Management Co. Ltd. now owns 21,120 shares of the company’s stock worth $277,000 after acquiring an additional 2,127 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in Edgewise Therapeutics by 14.9% in the second quarter. Tower Research Capital LLC TRC now owns 9,148 shares of the company’s stock valued at $120,000 after acquiring an additional 1,188 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts have commented on EWTX shares. Wedbush decreased their price objective on shares of Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Wednesday, January 21st. Royal Bank Of Canada lifted their price objective on Edgewise Therapeutics from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. JPMorgan Chase & Co. upped their target price on Edgewise Therapeutics from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Finally, Wall Street Zen downgraded Edgewise Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.67.

Edgewise Therapeutics Stock Performance

Shares of EWTX stock opened at $29.10 on Friday. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of -18.42 and a beta of 0.27. Edgewise Therapeutics, Inc. has a one year low of $10.60 and a one year high of $30.25. The company’s 50-day moving average is $25.62 and its 200 day moving average is $19.46.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. As a group, research analysts predict that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Edgewise Therapeutics

In related news, insider Alan J. Russell sold 100,000 shares of Edgewise Therapeutics stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $21.12, for a total value of $2,112,000.00. Following the completion of the sale, the insider directly owned 23,400 shares in the company, valued at approximately $494,208. This trade represents a 81.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan C. Fox bought 10,700 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was acquired at an average cost of $18.64 per share, with a total value of $199,448.00. Following the transaction, the director owned 23,702 shares in the company, valued at $441,805.28. The trade was a 82.30% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 23.20% of the company’s stock.

About Edgewise Therapeutics

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.