Jefferies Financial Group Inc. Takes $2.90 Million Position in Edgewise Therapeutics, Inc. $EWTX

Jefferies Financial Group Inc. bought a new position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 71,389 shares of the company’s stock, valued at approximately $2,901,000.

A number of other large investors have also recently added to or reduced their stakes in EWTX. Orbimed Advisors LLC raised its position in shares of Edgewise Therapeutics by 3.3% in the second quarter. Orbimed Advisors LLC now owns 15,518,492 shares of the company’s stock valued at $203,447,000 after purchasing an additional 496,771 shares during the period. RA Capital Management L.P. boosted its holdings in shares of Edgewise Therapeutics by 5.3% during the 3rd quarter. RA Capital Management L.P. now owns 10,428,437 shares of the company’s stock worth $169,149,000 after buying an additional 525,804 shares during the period. BlackRock Inc. acquired a new position in Edgewise Therapeutics in the 2nd quarter valued at $268,415,000. Paradigm Biocapital Advisors LP raised its holdings in Edgewise Therapeutics by 6.0% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 6,541,210 shares of the company’s stock worth $162,320,000 after acquiring an additional 371,079 shares during the period. Finally, Jupiter Topco LLC acquired a new position in Edgewise Therapeutics during the 2nd quarter worth $246,945,000.

Insider Transactions at Edgewise Therapeutics

In other Edgewise Therapeutics news, CEO Kevin Koch sold 17,971 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $43.68, for a total value of $784,973.28. Following the sale, the chief executive officer owned 52,488 shares of the company’s stock, valued at $2,292,675.84. The trade was a 25.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CMO Joanne M. Donovan sold 6,522 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $43.85, for a total transaction of $285,989.70. Following the completion of the transaction, the chief marketing officer owned 11,544 shares of the company’s stock, valued at approximately $506,204.40. This represents a 36.10% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 238,329 shares of company stock valued at $9,557,529. Company insiders own 21.30% of the company’s stock.

Edgewise Therapeutics Stock Performance

Shares of EWTX opened at $42.76 on Friday. The company has a 50-day simple moving average of $42.00 and a 200-day simple moving average of $35.71. Edgewise Therapeutics, Inc. has a 52 week low of $13.69 and a 52 week high of $48.40. The firm has a market capitalization of $4.64 billion, a P/E ratio of -23.11 and a beta of 0.30.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.06). As a group, equities analysts forecast that Edgewise Therapeutics, Inc. will post -2.09 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on EWTX shares. Evercore reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Edgewise Therapeutics in a research report on Monday, July 20th. Wedbush increased their target price on Edgewise Therapeutics from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 target price on shares of Edgewise Therapeutics in a report on Tuesday, June 16th. Oppenheimer initiated coverage on Edgewise Therapeutics in a research report on Thursday, July 9th. They issued an “outperform” rating and a $51.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price objective on Edgewise Therapeutics from $53.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.33.

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.