American Century Companies Inc. Sells 164,034 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

American Century Companies Inc. reduced its stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 17.6% during the 4th quarter, HoldingsChannel reports. The firm owned 770,353 shares of the company’s stock after selling 164,034 shares during the quarter. American Century Companies Inc.’s holdings in Edgewise Therapeutics were worth $20,568,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of EWTX. Janus Henderson Group PLC boosted its stake in Edgewise Therapeutics by 74.8% in the 3rd quarter. Janus Henderson Group PLC now owns 4,558,519 shares of the company’s stock valued at $121,616,000 after buying an additional 1,951,220 shares in the last quarter. State Street Corp lifted its holdings in shares of Edgewise Therapeutics by 1.2% during the third quarter. State Street Corp now owns 1,685,115 shares of the company’s stock valued at $44,976,000 after acquiring an additional 20,020 shares during the period. Parkman Healthcare Partners LLC boosted its stake in shares of Edgewise Therapeutics by 14.4% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 657,070 shares of the company’s stock valued at $17,537,000 after purchasing an additional 82,553 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Edgewise Therapeutics by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 537,359 shares of the company’s stock worth $14,347,000 after purchasing an additional 15,273 shares during the last quarter. Finally, Amundi increased its position in shares of Edgewise Therapeutics by 127.2% during the 4th quarter. Amundi now owns 341,687 shares of the company’s stock worth $8,686,000 after purchasing an additional 191,267 shares in the last quarter.

Edgewise Therapeutics Trading Down 0.7 %

Edgewise Therapeutics stock opened at $23.27 on Monday. The company has a market cap of $2.22 billion, a PE ratio of -15.51 and a beta of 0.22. Edgewise Therapeutics, Inc. has a 1 year low of $14.90 and a 1 year high of $38.12. The company’s 50-day moving average is $26.27 and its two-hundred day moving average is $28.60.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.03). Research analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Analyst Upgrades and Downgrades

EWTX has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $56.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday, March 4th. Stifel Nicolaus assumed coverage on shares of Edgewise Therapeutics in a research report on Wednesday, January 22nd. They set a “hold” rating and a $30.00 price target on the stock. Scotiabank started coverage on shares of Edgewise Therapeutics in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 price objective for the company. Finally, Evercore ISI upped their target price on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $45.38.

Insider Transactions at Edgewise Therapeutics

In related news, CMO Joanne M. Donovan sold 25,000 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $27.63, for a total value of $690,750.00. Following the sale, the chief marketing officer now directly owns 16,358 shares in the company, valued at $451,971.54. This trade represents a 60.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alan J. Russell sold 1,200 shares of Edgewise Therapeutics stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $30.13, for a total transaction of $36,156.00. Following the transaction, the insider now directly owns 14,863 shares in the company, valued at $447,822.19. The trade was a 7.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,836 shares of company stock worth $986,245 in the last three months. Insiders own 24.11% of the company’s stock.

Edgewise Therapeutics Profile

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.