Driehaus Capital Management LLC Decreases Stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Driehaus Capital Management LLC decreased its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 23.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,493,791 shares of the company's stock after selling 459,633 shares during the quarter. Driehaus Capital Management LLC owned 1.58% of Edgewise Therapeutics worth $39,884,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Baker BROS. Advisors LP boosted its stake in shares of Edgewise Therapeutics by 5.4% during the 4th quarter. Baker BROS. Advisors LP now owns 6,155,940 shares of the company's stock valued at $164,364,000 after buying an additional 315,881 shares during the last quarter. Braidwell LP lifted its holdings in Edgewise Therapeutics by 19.1% during the 4th quarter. Braidwell LP now owns 2,332,196 shares of the company's stock worth $62,270,000 after buying an additional 373,886 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Edgewise Therapeutics by 7.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,071,596 shares of the company's stock valued at $28,612,000 after acquiring an additional 70,964 shares during the last quarter. First Light Asset Management LLC acquired a new position in Edgewise Therapeutics in the fourth quarter worth $20,843,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Edgewise Therapeutics by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 729,923 shares of the company's stock valued at $19,491,000 after buying an additional 3,052 shares during the last quarter.

Insider Transactions at Edgewise Therapeutics

In other news, CMO Joanne M. Donovan sold 5,187 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $16.45, for a total value of $85,326.15. Following the sale, the chief marketing officer now owns 21,588 shares in the company, valued at approximately $355,122.60. The trade was a 19.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alan J. Russell sold 1,551 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $16.45, for a total transaction of $25,513.95. Following the sale, the insider now owns 18,521 shares of the company's stock, valued at $304,670.45. This trade represents a 7.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,258 shares of company stock worth $234,544. Insiders own 24.11% of the company's stock.

Edgewise Therapeutics Stock Up 0.9 %

Shares of Edgewise Therapeutics stock opened at $14.51 on Thursday. Edgewise Therapeutics, Inc. has a 12-month low of $10.60 and a 12-month high of $38.12. The stock has a market capitalization of $1.52 billion, a P/E ratio of -9.67 and a beta of 0.36. The stock has a 50 day moving average price of $18.67 and a two-hundred day moving average price of $25.90.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its earnings results on Monday, March 3rd. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.03). Sell-side analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Scotiabank lowered Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the stock from $50.00 to $14.00 in a research report on Wednesday, April 2nd. Royal Bank of Canada cut their price target on Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating on the stock in a report on Thursday, April 3rd. Wedbush reiterated an "outperform" rating and set a $43.00 price target on shares of Edgewise Therapeutics in a research report on Monday, April 21st. Stifel Nicolaus assumed coverage on shares of Edgewise Therapeutics in a research report on Wednesday, January 22nd. They issued a "hold" rating and a $30.00 target price for the company. Finally, Guggenheim began coverage on Edgewise Therapeutics in a report on Wednesday, April 30th. They issued a "buy" rating and a $41.00 price objective for the company. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $40.22.

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.

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