Peregrine Capital Management LLC Purchases Shares of 208,672 Edgewise Therapeutics, Inc. $EWTX

Peregrine Capital Management LLC purchased a new position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 208,672 shares of the company’s stock, valued at approximately $6,573,000. Peregrine Capital Management LLC owned approximately 0.19% of Edgewise Therapeutics as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Optimize Financial Inc increased its holdings in Edgewise Therapeutics by 1.5% in the 4th quarter. Optimize Financial Inc now owns 27,679 shares of the company’s stock worth $687,000 after acquiring an additional 396 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Edgewise Therapeutics by 23.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,854 shares of the company’s stock worth $71,000 after purchasing an additional 550 shares during the period. California State Teachers Retirement System boosted its position in shares of Edgewise Therapeutics by 2.4% in the second quarter. California State Teachers Retirement System now owns 36,878 shares of the company’s stock worth $483,000 after purchasing an additional 850 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Edgewise Therapeutics by 26.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,145 shares of the company’s stock worth $128,000 after purchasing an additional 1,072 shares in the last quarter. Finally, Creative Planning raised its position in shares of Edgewise Therapeutics by 6.7% during the 3rd quarter. Creative Planning now owns 18,036 shares of the company’s stock valued at $293,000 after purchasing an additional 1,126 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EWTX. Raymond James Financial restated a “strong-buy” rating and issued a $66.00 price objective on shares of Edgewise Therapeutics in a research report on Monday, June 1st. Royal Bank Of Canada lifted their target price on Edgewise Therapeutics from $48.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, June 17th. Leerink Partners set a $52.00 price target on Edgewise Therapeutics in a report on Tuesday, June 16th. HC Wainwright restated a “buy” rating and issued a $45.00 price target on shares of Edgewise Therapeutics in a research note on Tuesday, June 16th. Finally, Wedbush increased their price objective on shares of Edgewise Therapeutics from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.30.

Edgewise Therapeutics Stock Down 3.6%

EWTX stock opened at $39.15 on Thursday. Edgewise Therapeutics, Inc. has a twelve month low of $12.30 and a twelve month high of $43.93. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of -23.58 and a beta of 0.27. The firm’s fifty day simple moving average is $35.02 and its two-hundred day simple moving average is $30.96.

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

Insider Activity

In other news, CMO Joanne M. Donovan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $38.57, for a total value of $1,928,500.00. Following the sale, the chief marketing officer directly owned 4,367 shares in the company, valued at approximately $168,435.19. This represents a 91.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 21.30% of the stock is owned by company insiders.

About Edgewise Therapeutics

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.