Granahan Investment Management LLC Sells 65,861 Shares of Edgewise Therapeutics, Inc. $EWTX

Granahan Investment Management LLC trimmed its holdings in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 16.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 339,617 shares of the company’s stock after selling 65,861 shares during the quarter. Granahan Investment Management LLC’s holdings in Edgewise Therapeutics were worth $5,509,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Orbimed Advisors LLC lifted its holdings in Edgewise Therapeutics by 3.3% during the second 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 during the period. Braidwell LP increased its holdings in shares of Edgewise Therapeutics by 111.9% in the 2nd quarter. Braidwell LP now owns 5,210,831 shares of the company’s stock valued at $68,314,000 after acquiring an additional 2,752,023 shares during the period. Bellevue Group AG increased its holdings in shares of Edgewise Therapeutics by 94.3% in the 2nd quarter. Bellevue Group AG now owns 2,775,997 shares of the company’s stock valued at $36,393,000 after acquiring an additional 1,347,068 shares during the period. Geode Capital Management LLC raised its position in shares of Edgewise Therapeutics by 8.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,797,215 shares of the company’s stock worth $23,564,000 after acquiring an additional 141,551 shares in the last quarter. Finally, MPM Bioimpact LLC lifted its stake in shares of Edgewise Therapeutics by 55.7% during the 2nd quarter. MPM Bioimpact LLC now owns 1,720,741 shares of the company’s stock worth $22,559,000 after purchasing an additional 615,297 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on EWTX shares. Piper Sandler reaffirmed an “overweight” rating on shares of Edgewise Therapeutics in a research report on Monday, February 9th. HC Wainwright upgraded shares of Edgewise Therapeutics to a “strong-buy” rating in a report on Thursday, February 26th. Wall Street Zen lowered shares of Edgewise Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Wednesday, January 21st. Finally, Raymond James Financial set a $46.00 price objective on shares of Edgewise Therapeutics in a research report on Tuesday, March 10th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Edgewise Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $36.36.

Edgewise Therapeutics Trading Down 1.2%

Shares of EWTX opened at $29.59 on Monday. The firm has a market cap of $3.17 billion, a PE ratio of -18.15 and a beta of 0.26. Edgewise Therapeutics, Inc. has a 12 month low of $10.60 and a 12 month high of $31.82. The stock has a fifty day moving average price of $28.54 and a 200-day moving average price of $22.33.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its earnings results on Thursday, February 26th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.04). As a group, research analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Insiders Place Their Bets

In other Edgewise Therapeutics news, Director Badreddin Edris sold 115,471 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $29.44, for a total value of $3,399,466.24. Following the completion of the sale, the director owned 19,820 shares of the company’s stock, valued at approximately $583,500.80. This trade represents a 85.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.