Janus Henderson Group PLC Buys 1,348,706 Shares of Edgewise Therapeutics, Inc. $EWTX

Janus Henderson Group PLC boosted its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 29.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,915,556 shares of the company’s stock after acquiring an additional 1,348,706 shares during the quarter. Janus Henderson Group PLC owned 0.05% of Edgewise Therapeutics worth $186,289,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ally Bridge Group NY LLC grew its holdings in shares of Edgewise Therapeutics by 392.7% in the 1st quarter. Ally Bridge Group NY LLC now owns 161,000 shares of the company’s stock worth $5,072,000 after purchasing an additional 216,000 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Edgewise Therapeutics by 45.7% during the 1st quarter. California State Teachers Retirement System now owns 73,419 shares of the company’s stock worth $2,313,000 after purchasing an additional 23,027 shares in the last quarter. Quantinno Capital Management LP bought a new position in Edgewise Therapeutics during the 1st quarter valued at about $235,000. Sei Investments Co. lifted its holdings in Edgewise Therapeutics by 57.1% during the 1st quarter. Sei Investments Co. now owns 49,082 shares of the company’s stock valued at $1,546,000 after purchasing an additional 17,832 shares during the last quarter. Finally, First Trust Advisors LP bought a new position in Edgewise Therapeutics during the 1st quarter valued at about $288,000.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of Edgewise Therapeutics from $48.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 17th. Leerink Partners set a $52.00 target price on shares of Edgewise Therapeutics in a research note on Tuesday, June 16th. Oppenheimer assumed coverage on Edgewise Therapeutics in a report on Thursday, July 9th. They issued an “outperform” rating and a $51.00 target price on the stock. The Goldman Sachs Group increased their price target on Edgewise Therapeutics from $20.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 17th. Finally, Wedbush raised their price target on Edgewise Therapeutics from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.75.

Insider Activity at Edgewise Therapeutics

In other news, insider Alan J. Russell sold 200,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $39.41, for a total transaction of $7,882,000.00. Following the sale, the insider directly owned 24,555 shares of the company’s stock, valued at $967,712.55. This represents a 89.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Joanne M. Donovan sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were 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 approximately $168,435.19. This represents a 91.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 255,230 shares of company stock worth $9,974,147 over the last three months. 21.30% of the stock is owned by insiders.

Edgewise Therapeutics Stock Up 3.4%

Shares of NASDAQ EWTX opened at $41.12 on Friday. Edgewise Therapeutics, Inc. has a 12-month low of $12.30 and a 12-month high of $48.40. The firm’s 50-day simple moving average is $38.36 and its 200 day simple moving average is $33.46. The company has a market cap of $4.42 billion, a price-to-earnings ratio of -24.77 and a beta of 0.27.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.04. On average, equities analysts expect that Edgewise Therapeutics, Inc. will post -2.01 earnings per share for the current year.

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.