Aberdeen Group plc Raises Position in Edgewise Therapeutics, Inc. $EWTX

Aberdeen Group plc increased its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 32.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 821,940 shares of the company’s stock after buying an additional 202,062 shares during the period. Aberdeen Group plc’s holdings in Edgewise Therapeutics were worth $20,396,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in EWTX. Bessemer Group Inc. raised its position in shares of Edgewise Therapeutics by 1,170.3% in the third quarter. Bessemer Group Inc. now owns 2,350 shares of the company’s stock worth $38,000 after buying an additional 2,165 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Edgewise Therapeutics during the second quarter valued at about $45,000. Jones Financial Companies Lllp purchased a new stake in Edgewise Therapeutics during the first quarter valued at about $47,000. Strs Ohio purchased a new stake in Edgewise Therapeutics during the first quarter valued at about $84,000. Finally, BNP Paribas Financial Markets raised its position in Edgewise Therapeutics by 48.9% during the second quarter. BNP Paribas Financial Markets now owns 8,193 shares of the company’s stock valued at $107,000 after purchasing an additional 2,689 shares in the last quarter.

Edgewise Therapeutics Trading Down 1.5%

EWTX opened at $32.83 on Tuesday. The company has a market cap of $3.52 billion, a P/E ratio of -20.14 and a beta of 0.24. The business’s 50-day moving average price is $30.02 and its 200-day moving average price is $24.19. Edgewise Therapeutics, Inc. has a 12 month low of $10.60 and a 12 month high of $34.00.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.04). Equities research analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on EWTX shares. Wall Street Zen downgraded Edgewise Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Edgewise Therapeutics in a research report on Wednesday, January 21st. JPMorgan Chase & Co. raised their price target on Edgewise Therapeutics from $34.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday, March 17th. Evercore restated an “outperform” rating and set a $45.00 price target on shares of Edgewise Therapeutics in a research report on Thursday, February 26th. Finally, Raymond James Financial set a $46.00 price target on Edgewise Therapeutics in a research report on Tuesday, March 10th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.44.

Insider Activity

In related news, Director Badreddin Edris sold 115,471 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $29.44, for a total value of $3,399,466.24. Following the sale, the director directly owned 19,820 shares of the company’s stock, valued at $583,500.80. This trade represents a 85.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Joanne M. Donovan sold 28,662 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $32.31, for a total value of $926,069.22. Additional details regarding this sale are available in the official SEC disclosure. 23.20% of the stock is currently owned by insiders.

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.