Janus Henderson Group PLC Acquires 1,951,220 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Janus Henderson Group PLC boosted its holdings in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 74.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,558,519 shares of the company’s stock after purchasing an additional 1,951,220 shares during the quarter. Janus Henderson Group PLC’s holdings in Edgewise Therapeutics were worth $121,616,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in EWTX. Novo Holdings A S bought a new stake in Edgewise Therapeutics during the 2nd quarter valued at approximately $114,263,000. Braidwell LP bought a new stake in Edgewise Therapeutics during the 3rd quarter valued at approximately $52,267,000. Millennium Management LLC boosted its stake in Edgewise Therapeutics by 115.2% during the 2nd quarter. Millennium Management LLC now owns 1,145,506 shares of the company’s stock valued at $20,631,000 after purchasing an additional 613,251 shares during the period. Sofinnova Investments Inc. bought a new stake in Edgewise Therapeutics during the 2nd quarter valued at approximately $8,567,000. Finally, Frazier Life Sciences Management L.P. boosted its stake in Edgewise Therapeutics by 12.9% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,731,067 shares of the company’s stock valued at $67,197,000 after purchasing an additional 427,500 shares during the period.

Insider Transactions at Edgewise Therapeutics

In related news, CFO R Michael Carruthers sold 125,092 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $28.57, for a total transaction of $3,573,878.44. Following the completion of the sale, the chief financial officer now directly owns 6,904 shares of the company’s stock, valued at $197,247.28. This trade represents a 94.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel John R. Moore sold 20,922 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $27.63, for a total value of $578,074.86. Following the sale, the general counsel now directly owns 3,252 shares of the company’s stock, valued at $89,852.76. This represents a 86.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 278,176 shares of company stock valued at $7,893,316. Corporate insiders own 24.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EWTX. Evercore ISI began coverage on Edgewise Therapeutics in a research report on Friday, November 22nd. They issued an “outperform” rating and a $45.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $32.00 price objective on shares of Edgewise Therapeutics in a research report on Tuesday, September 17th. JPMorgan Chase & Co. raised their price objective on Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Truist Financial raised their price objective on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, Piper Sandler raised their price objective on Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $42.33.

Edgewise Therapeutics Trading Up 0.3 %

Shares of EWTX opened at $32.06 on Thursday. Edgewise Therapeutics, Inc. has a 1 year low of $6.44 and a 1 year high of $38.12. The stock has a 50 day simple moving average of $32.14 and a 200-day simple moving average of $23.48. The stock has a market cap of $3.04 billion, a PE ratio of -21.37 and a beta of 0.12.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.01. On average, sell-side analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

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.