Goldman Sachs Group Inc. Has $8.07 Million Holdings in Edgewise Therapeutics, Inc. $EWTX

Key Points

• Goldman Sachs Group Inc. increased its stake in Edgewise Therapeutics by 5.7%, owning approximately 0.35% of the company valued at $8.07 million.
• Edgewise Therapeutics stock experienced a decline of 2.9%, opening at $14.24, with a market cap of $1.50 billion.
• Recent earnings reports showed Edgewise's EPS at ($0.34), surpassing analysts' expectations, while forecasted EPS for the current year is -1.45.

Goldman Sachs Group Inc. raised its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 5.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 366,644 shares of the company's stock after buying an additional 19,753 shares during the period. Goldman Sachs Group Inc. owned about 0.35% of Edgewise Therapeutics worth $8,066,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Rhumbline Advisers boosted its stake in shares of Edgewise Therapeutics by 6.3% during the 1st quarter. Rhumbline Advisers now owns 108,837 shares of the company's stock valued at $2,394,000 after buying an additional 6,440 shares during the period. Strs Ohio bought a new position in shares of Edgewise Therapeutics during the 1st quarter valued at $84,000. Woodline Partners LP raised its holdings in shares of Edgewise Therapeutics by 93.4% during the 1st quarter. Woodline Partners LP now owns 1,096,809 shares of the company's stock valued at $24,130,000 after purchasing an additional 529,591 shares in the last quarter. Fred Alger Management LLC bought a new position in shares of Edgewise Therapeutics during the 1st quarter valued at $608,000. Finally, Jones Financial Companies Lllp bought a new position in shares of Edgewise Therapeutics during the 1st quarter valued at $47,000.

Insider Activity

In other Edgewise Therapeutics news, insider Alan J. Russell sold 100,000 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $14.60, for a total value of $1,460,000.00. Following the completion of the sale, the insider owned 23,400 shares of the company's stock, valued at approximately $341,640. This represents a 81.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Joanne M. Donovan sold 2,862 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $13.39, for a total transaction of $38,322.18. Following the completion of the sale, the chief marketing officer directly owned 25,361 shares of the company's stock, valued at $339,583.79. The trade was a 10.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 116,267 shares of company stock worth $1,677,815 over the last three months. Company insiders own 23.20% of the company's stock.

Edgewise Therapeutics Stock Performance

NASDAQ:EWTX traded down $0.70 during trading hours on Friday, hitting $14.83. The stock had a trading volume of 371,037 shares, compared to its average volume of 1,180,029. Edgewise Therapeutics, Inc. has a one year low of $10.60 and a one year high of $38.12. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -9.56 and a beta of 0.26. The business's 50 day moving average is $14.11 and its 200-day moving average is $15.67.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.08. On average, sell-side analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on EWTX. JPMorgan Chase & Co. dropped their price objective on shares of Edgewise Therapeutics from $40.00 to $30.00 and set an "overweight" rating on the stock in a report on Tuesday, August 19th. Royal Bank Of Canada lifted their target price on shares of Edgewise Therapeutics from $48.00 to $49.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Raymond James Financial began coverage on shares of Edgewise Therapeutics in a research report on Wednesday, July 30th. They issued a "strong-buy" rating and a $46.00 price target on the stock. Finally, HC Wainwright began coverage on shares of Edgewise Therapeutics in a research report on Monday, June 30th. They issued a "buy" rating and a $42.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $40.55.

About Edgewise Therapeutics

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.