Edgewise Therapeutics’ (NASDAQ:EWTX) lock-up period will expire on Wednesday, September 22nd. Edgewise Therapeutics had issued 11,000,000 shares in its IPO on March 26th. The total size of the offering was $176,000,000 based on an initial share price of $16.00. After the expiration of Edgewise Therapeutics’ lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.
Separately, Zacks Investment Research downgraded shares of Edgewise Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, August 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $32.60.
EWTX stock opened at $16.91 on Wednesday. The firm’s 50 day moving average is $18.04. Edgewise Therapeutics has a 12-month low of $13.60 and a 12-month high of $40.49.
Several institutional investors have recently modified their holdings of the stock. Legal & General Group Plc acquired a new position in shares of Edgewise Therapeutics during the 2nd quarter worth approximately $40,000. Deutsche Bank AG acquired a new position in shares of Edgewise Therapeutics during the 2nd quarter worth approximately $156,000. Pinz Capital Management LP acquired a new position in shares of Edgewise Therapeutics during the 2nd quarter worth approximately $186,000. Landscape Capital Management L.L.C. acquired a new position in shares of Edgewise Therapeutics during the 1st quarter worth approximately $290,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of Edgewise Therapeutics during the 2nd quarter worth approximately $216,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.
Edgewise Therapeutics Company Profile
Edgewise Therapeutics, Inc, a biopharmaceutical company, develops small molecule therapies for musculoskeletal diseases. It offers a precision medicine muscle platform that generates programs to address various muscle disorders, such as Duchenne, Becker, and limb girdle muscular dystrophies. The company develops a pipeline of precision medicine product candidates that target key muscle proteins and modulators to address genetically defined muscle disorders.
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