Candriam S.C.A. Sells 53,798 Shares of Edgewise Therapeutics, Inc. $EWTX

Candriam S.C.A. trimmed its position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 10.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 447,416 shares of the company's stock after selling 53,798 shares during the quarter. Candriam S.C.A. owned 0.42% of Edgewise Therapeutics worth $14,094,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Strs Ohio bought a new stake in Edgewise Therapeutics during the 1st quarter valued at $217,000. Peregrine Capital Management LLC bought a new position in shares of Edgewise Therapeutics in the first quarter valued at $6,573,000. Pictet Asset Management Holding SA acquired a new position in shares of Edgewise Therapeutics during the first quarter valued at about $240,000. Seven Fleet Capital Management LP bought a new stake in shares of Edgewise Therapeutics during the fourth quarter worth about $50,000. Finally, Invesco Ltd. increased its position in shares of Edgewise Therapeutics by 14.2% during the fourth quarter. Invesco Ltd. now owns 75,438 shares of the company's stock worth $1,872,000 after acquiring an additional 9,382 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on EWTX shares. Guggenheim lifted their target price on Edgewise Therapeutics from $41.00 to $51.00 and gave the company a "buy" rating in a research report on Monday, July 6th. Royal Bank Of Canada increased their price target on Edgewise Therapeutics from $48.00 to $59.00 and gave the company an "outperform" rating in a research report on Wednesday, June 17th. Wedbush raised their price objective on Edgewise Therapeutics from $46.00 to $52.00 and gave the company an "outperform" rating in a research note on Monday, June 1st. Raymond James Financial reaffirmed a "strong-buy" rating and set a $66.00 price objective on shares of Edgewise Therapeutics in a report on Monday, June 1st. Finally, HC Wainwright reiterated a "buy" rating and issued a $45.00 target price on shares of Edgewise Therapeutics in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $47.92.

Edgewise Therapeutics Price Performance

Shares of NASDAQ EWTX opened at $45.41 on Monday. The company has a market capitalization of $4.89 billion, a PE ratio of -27.36 and a beta of 0.27. The stock's 50 day moving average price is $36.67 and its 200-day moving average price is $31.96. Edgewise Therapeutics, Inc. has a twelve month low of $12.30 and a twelve month high of $48.40.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.46) EPS for the quarter, beating analysts' consensus estimates of ($0.50) by $0.04. As a group, research analysts expect that Edgewise Therapeutics, Inc. will post -2.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CMO Joanne M. Donovan sold 50,000 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $38.57, for a total transaction of $1,928,500.00. Following the completion of the sale, the chief marketing officer directly owned 4,367 shares of the company's stock, valued at $168,435.19. This trade represents a 91.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alan J. Russell sold 200,000 shares of the business's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $39.41, for a total transaction of $7,882,000.00. Following the completion of the transaction, the insider directly owned 24,555 shares in the company, valued at $967,712.55. This trade represents a 89.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 255,230 shares of company stock valued at $9,974,147 in the last 90 days. Corporate insiders own 21.30% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.