Invesco Ltd. Has $1.06 Million Stock Position in Edgewise Therapeutics, Inc. $EWTX

Invesco Ltd. lifted its stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 10.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,130 shares of the company’s stock after purchasing an additional 4,695 shares during the period. Invesco Ltd.’s holdings in Edgewise Therapeutics were worth $1,059,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Swiss National Bank boosted its position in shares of Edgewise Therapeutics by 12.2% in the 1st quarter. Swiss National Bank now owns 82,600 shares of the company’s stock worth $1,817,000 after purchasing an additional 9,000 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Edgewise Therapeutics by 36.3% in the 1st quarter. Deutsche Bank AG now owns 376,060 shares of the company’s stock worth $8,273,000 after purchasing an additional 100,223 shares during the last quarter. TD Asset Management Inc bought a new position in shares of Edgewise Therapeutics in the 1st quarter worth $730,000. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Edgewise Therapeutics in the 1st quarter worth $827,000. Finally, Readystate Asset Management LP lifted its holdings in Edgewise Therapeutics by 1,591.0% during the first quarter. Readystate Asset Management LP now owns 361,233 shares of the company’s stock worth $7,947,000 after acquiring an additional 339,871 shares in the last quarter.

Insiders Place Their Bets

In other news, General Counsel John R. Moore sold 2,098 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total value of $28,092.22. Following the transaction, the general counsel owned 10,214 shares of the company’s stock, valued at approximately $136,765.46. This represents a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Joanne M. Donovan sold 2,862 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $13.39, for a total value of $38,322.18. Following the completion of the transaction, the chief marketing officer directly owned 25,361 shares in the company, valued at $339,583.79. The trade was a 10.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 116,267 shares of company stock worth $1,677,815 in the last three months. 23.20% of the stock is owned by corporate insiders.

Edgewise Therapeutics Stock Up 3.6%

Shares of NASDAQ EWTX opened at $14.86 on Wednesday. The business’s 50 day moving average price is $13.79 and its two-hundred day moving average price is $16.55. The company has a market cap of $1.57 billion, a PE ratio of -9.59 and a beta of 0.26. Edgewise Therapeutics, Inc. has a twelve month low of $10.60 and a twelve month high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.08. As a group, research analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. HC Wainwright assumed coverage on Edgewise Therapeutics in a report on Monday, June 30th. They set a “buy” rating and a $42.00 target price on the stock. Raymond James Financial assumed coverage on Edgewise Therapeutics in a report on Wednesday, July 30th. They set a “strong-buy” rating and a $46.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on Edgewise Therapeutics from $40.00 to $30.00 and set an “overweight” rating on the stock in a report on Tuesday, August 19th. Finally, Royal Bank Of Canada lifted their target price on Edgewise Therapeutics from $48.00 to $49.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $40.55.

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.