Driehaus Capital Management 13F: Adds $10M to EWTX Stake

Driehaus Capital Management grew its stake in Edgewise Therapeutics, Inc. (NasdaqGS: EWTX) by 6.84% during the first quarter of 2026, according to its latest Form 13F filing with the Securities and Exchange Commission. The investment firm purchased 286,749 shares of the biotechnology company, increasing its total position to 4,477,942 shares. At the end of the quarter, the fund's total holding was valued at approximately $155.97 million.

How Driehaus Capital Changed Its Edgewise Stake

Before making this move, Driehaus Capital held 4,191,193 shares of the muscle-disorder therapeutics developer. The addition of 286,749 shares represents a steady increase in the fund's commitment to the stock. The average cost basis for the fund's acquisition was around $19.25 per share. It is important to note that quarterly 13F filings are backward-looking documents that reveal a fund's holdings at a specific point in time, meaning Driehaus Capital may have adjusted its position in the company since the end of the first quarter.

Edgewise Stock Performance and Moving Averages

On Saturday, Edgewise shares were priced at $34.83. The stock has seen a wide trading range over the past year, with a low of $14.25 and a high of $48.51. The current share price places Edgewise just above its 200-day moving average of $34.02, though it is trading below its 50-day moving average of $42.64. The stock's performance since the filing period shows significant volatility, climbing toward its yearly high before settling closer to its long-term average.

Edgewise Financial Status and Upcoming Earnings

The company is currently not profitable, reporting a net margin of 0.0% and a return on equity of negative 38.03%. For the trailing twelve months, Edgewise posted an earnings per share (EPS) of -$1.85. The company's forward P/E ratio is negative at -24.58. Despite the lack of profitability, which is common for clinical-stage biotech firms, the company maintains a highly liquid balance sheet with a current ratio of 16.24 and a quick ratio of 15.86. Its debt-to-equity ratio stands at a healthy 0.80. Edgewise is scheduled to release its next quarterly earnings report on November 5, 2026.

Wall Street Analysts Track Clinical Progress

Wall Street analysts have provided a series of updates on Edgewise. On October 16, 2026, William Blair initiated coverage on the company with an Outperform rating. On September 21, 2026, HC Wainwright maintained its Buy rating on the stock and raised its price target from $45.00 to $57.00. Earlier, on August 20, 2026, JP Morgan reiterated its Overweight rating and bumped its target from $53.00 to $60.00. Goldman Sachs kept a Neutral rating on August 11, 2026, but raised its price target from $32.00 to $36.00. In July, Evercore ISI Group maintained an Outperform rating with a target of $55.00, Oppenheimer initiated coverage with an Outperform rating and a $51.00 target, and Guggenheim maintained a Buy rating with a $51.00 target. Out of 13 analysts covering the stock, the consensus recommendation is a buy, with an average target price of $52.62.

Muscle Therapeutics Pipeline at Edgewise

Edgewise Therapeutics, which was founded in 2017 and is based in Boulder, Colorado, focuses on discovering and developing treatments for rare muscle disorders. Its lead compound is sevasemten, an oral therapy currently in Phase II trials for muscular dystrophies. The company is also testing other clinical candidates like EDG-7500 for cardiac disorders and EDG-15400 for heart failure. Driehaus Capital's increased position highlights the fund's ongoing interest in these clinical assets.

What to Watch Next for Edgewise

Investors will want to watch how Edgewise shares perform relative to their moving averages and whether the stock can reclaim its recent highs. The next major catalyst will likely be the company's upcoming earnings report in November, alongside any data updates from its ongoing clinical trials for muscular dystrophy and heart failure therapies.