6,606,336 Shares in Edgewise Therapeutics, Inc. $EWTX Purchased by BlackRock Inc.

BlackRock Inc. bought a new position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 6,606,336 shares of the company's stock, valued at approximately $268,415,000. BlackRock Inc. owned approximately 6.14% of Edgewise Therapeutics at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Edgewise Therapeutics by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,776 shares of the company's stock worth $963,000 after purchasing an additional 2,463 shares during the period. Jones Financial Companies Lllp bought a new position in Edgewise Therapeutics in the first quarter worth approximately $47,000. Goldman Sachs Group Inc. raised its stake in Edgewise Therapeutics by 5.7% in the first quarter. Goldman Sachs Group Inc. now owns 366,644 shares of the company's stock worth $8,066,000 after buying an additional 19,753 shares in the last quarter. Strs Ohio purchased a new stake in Edgewise Therapeutics during the first quarter worth $84,000. Finally, Creative Planning lifted its holdings in Edgewise Therapeutics by 29.4% during the second quarter. Creative Planning now owns 16,910 shares of the company's stock worth $222,000 after buying an additional 3,837 shares during the period.

Insider Transactions at Edgewise Therapeutics

In related news, CEO Kevin Koch sold 17,971 shares of the firm's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $43.68, for a total value of $784,973.28. Following the completion of the transaction, the chief executive officer owned 52,488 shares in the company, valued at $2,292,675.84. This trade represents a 25.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel John R. Moore sold 5,016 shares of the business's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $43.82, for a total value of $219,801.12. Following the sale, the general counsel owned 17,697 shares in the company, valued at approximately $775,482.54. The trade was a 22.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 238,329 shares of company stock valued at $9,557,529 in the last quarter. Insiders own 21.30% of the company's stock.

Edgewise Therapeutics Trading Up 0.4%

NASDAQ:EWTX opened at $44.38 on Thursday. The company has a market cap of $4.82 billion, a PE ratio of -23.99 and a beta of 0.30. Edgewise Therapeutics, Inc. has a twelve month low of $13.69 and a twelve month high of $48.40. The company's 50 day moving average is $41.73 and its two-hundred day moving average is $35.55.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on EWTX shares. The Goldman Sachs Group lifted their price target on Edgewise Therapeutics from $32.00 to $36.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. HC Wainwright restated a "buy" rating and set a $45.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday, June 16th. Evercore reaffirmed an "outperform" rating and set a $55.00 price objective on shares of Edgewise Therapeutics in a research report on Monday, July 20th. JPMorgan Chase & Co. lifted their target price on Edgewise Therapeutics from $53.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, August 20th. Finally, Wedbush boosted their target price on shares of Edgewise Therapeutics from $46.00 to $52.00 and gave the stock an "outperform" rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Edgewise Therapeutics has an average rating of "Moderate Buy" and an average target price of $50.33.

Edgewise Therapeutics 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.

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