SG Americas Securities LLC Sells 84,919 Shares of Edgewise Therapeutics, Inc. $EWTX

SG Americas Securities LLC lessened its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 95.7% in the first quarter, HoldingsChannel reports. The fund owned 3,804 shares of the company’s stock after selling 84,919 shares during the quarter. SG Americas Securities LLC’s holdings in Edgewise Therapeutics were worth $120,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Optimize Financial Inc lifted its holdings in shares of 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 purchasing an additional 396 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in Edgewise Therapeutics by 23.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,854 shares of the company’s stock valued at $71,000 after purchasing an additional 550 shares during the period. California State Teachers Retirement System increased its stake in Edgewise Therapeutics by 2.4% during the 2nd quarter. California State Teachers Retirement System now owns 36,878 shares of the company’s stock valued at $483,000 after purchasing an additional 850 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Edgewise Therapeutics by 26.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,145 shares of the company’s stock valued at $128,000 after purchasing an additional 1,072 shares in the last quarter. Finally, Creative Planning raised its holdings in 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 buying an additional 1,126 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have weighed in on EWTX. Guggenheim raised their price objective on shares of Edgewise Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Royal Bank Of Canada upped their target price on shares of Edgewise Therapeutics from $48.00 to $59.00 and gave the stock an “outperform” rating in a report on Wednesday, June 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Edgewise Therapeutics in a research report on Monday, April 20th. Leerink Partners set a $52.00 price target on Edgewise Therapeutics in a research note on Tuesday, June 16th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $66.00 price objective on shares of Edgewise Therapeutics in a report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $47.92.

Insider Transactions at Edgewise Therapeutics

In other Edgewise Therapeutics news, CMO Joanne M. Donovan sold 50,000 shares of Edgewise Therapeutics 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 transaction, the chief marketing officer 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alan J. Russell sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $39.41, for a total value of $7,882,000.00. Following the completion of the transaction, the insider owned 24,555 shares in the company, valued at $967,712.55. The trade was a 89.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 255,230 shares of company stock valued at $9,974,147 over the last ninety days. 21.30% of the stock is currently owned by insiders.

Edgewise Therapeutics Trading Down 9.1%

Shares of NASDAQ:EWTX opened at $41.27 on Tuesday. The stock has a market cap of $4.44 billion, a PE ratio of -24.86 and a beta of 0.27. The stock’s fifty day simple moving average is $36.88 and its two-hundred day simple moving average is $32.09. Edgewise Therapeutics, Inc. has a 1-year low of $12.30 and a 1-year high of $48.40.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, May 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.04. On average, sell-side analysts forecast that Edgewise Therapeutics, Inc. will post -2.01 earnings per share for the current fiscal year.

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.