Granahan Investment Management LLC Trims Stock Holdings in Edgewise Therapeutics, Inc. $EWTX

Granahan Investment Management LLC reduced its holdings in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 16.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 339,617 shares of the company’s stock after selling 65,861 shares during the period. Granahan Investment Management LLC owned about 0.32% of Edgewise Therapeutics worth $5,509,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of EWTX. California State Teachers Retirement System grew its position in Edgewise Therapeutics by 2.4% in the 2nd quarter. California State Teachers Retirement System now owns 36,878 shares of the company’s stock valued at $483,000 after acquiring an additional 850 shares during the last quarter. HighMark Wealth Management LLC increased its stake in Edgewise Therapeutics by 2.1% in the third quarter. HighMark Wealth Management LLC now owns 53,179 shares of the company’s stock worth $863,000 after purchasing an additional 1,114 shares during the period. Creative Planning lifted its position in shares of Edgewise Therapeutics by 6.7% during the third quarter. Creative Planning now owns 18,036 shares of the company’s stock worth $293,000 after purchasing an additional 1,126 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Edgewise Therapeutics by 14.9% during the second quarter. Tower Research Capital LLC TRC now owns 9,148 shares of the company’s stock worth $120,000 after purchasing an additional 1,188 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Edgewise Therapeutics by 13.1% during the third quarter. Arizona State Retirement System now owns 15,549 shares of the company’s stock valued at $252,000 after purchasing an additional 1,804 shares during the period.

Edgewise Therapeutics Trading Down 1.2%

EWTX opened at $29.59 on Monday. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of -18.15 and a beta of 0.26. Edgewise Therapeutics, Inc. has a 12-month low of $10.60 and a 12-month high of $31.82. The business’s fifty day simple moving average is $28.54 and its 200-day simple moving average is $22.33.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.04). On average, equities research analysts predict that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Insider Transactions at Edgewise Therapeutics

In other Edgewise Therapeutics news, Director Badreddin Edris sold 115,471 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $29.44, for a total transaction of $3,399,466.24. Following the transaction, the director owned 19,820 shares of the company’s stock, valued at approximately $583,500.80. This trade represents a 85.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 23.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Stifel Nicolaus set a $25.00 price target on shares of Edgewise Therapeutics in a report on Thursday, February 26th. Evercore reiterated an “outperform” rating and set a $45.00 price objective on shares of Edgewise Therapeutics in a report on Thursday, February 26th. Raymond James Financial set a $46.00 price objective on shares of Edgewise Therapeutics in a research report on Tuesday, March 10th. Wall Street Zen downgraded shares of Edgewise Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Finally, HC Wainwright raised shares of Edgewise Therapeutics to a “strong-buy” rating in a research report on Thursday, February 26th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Edgewise Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $36.36.

Edgewise Therapeutics Company 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.