Aberdeen Group plc Has $10.05 Million Holdings in Edgewise Therapeutics, Inc. $EWTX

Aberdeen Group plc lifted its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 39.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 619,878 shares of the company’s stock after purchasing an additional 176,559 shares during the period. Aberdeen Group plc owned 0.59% of Edgewise Therapeutics worth $10,054,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Orbimed Advisors LLC increased its holdings in shares of Edgewise Therapeutics by 3.3% during the second quarter. Orbimed Advisors LLC now owns 15,518,492 shares of the company’s stock worth $203,447,000 after buying an additional 496,771 shares in the last quarter. Braidwell LP increased its stake in Edgewise Therapeutics by 111.9% in the second quarter. Braidwell LP now owns 5,210,831 shares of the company’s stock valued at $68,314,000 after purchasing an additional 2,752,023 shares in the last quarter. Bellevue Group AG raised its stake in Edgewise Therapeutics by 94.3% during the 2nd quarter. Bellevue Group AG now owns 2,775,997 shares of the company’s stock worth $36,393,000 after buying an additional 1,347,068 shares during the period. Geode Capital Management LLC increased its stake in Edgewise Therapeutics by 8.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,797,215 shares of the company’s stock valued at $23,564,000 after purchasing an additional 141,551 shares in the last quarter. Finally, MPM Bioimpact LLC raised its holdings in shares of Edgewise Therapeutics by 55.7% in the 2nd quarter. MPM Bioimpact LLC now owns 1,720,741 shares of the company’s stock worth $22,559,000 after acquiring an additional 615,297 shares during the last quarter.

Analyst Upgrades and Downgrades

EWTX has been the subject of several research analyst reports. Piper Sandler restated an “overweight” rating on shares of Edgewise Therapeutics in a research note on Monday, February 9th. Wall Street Zen upgraded shares of Edgewise Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, February 15th. Royal Bank Of Canada lifted their price target on shares of Edgewise Therapeutics from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. upped their price target on shares of Edgewise Therapeutics from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Finally, Wedbush reduced their target price on Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating on the stock in a research report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $36.67.

Insiders Place Their Bets

In related news, Director Badreddin Edris sold 115,471 shares of Edgewise Therapeutics stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $29.44, for a total transaction of $3,399,466.24. Following the completion of the transaction, the director directly owned 19,820 shares of the company’s stock, valued at approximately $583,500.80. The trade was a 85.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 23.20% of the company’s stock.

Edgewise Therapeutics Price Performance

NASDAQ:EWTX opened at $29.51 on Friday. Edgewise Therapeutics, Inc. has a 12 month low of $10.60 and a 12 month high of $31.29. The firm has a market capitalization of $3.12 billion, a PE ratio of -18.68 and a beta of 0.27. The business’s fifty day moving average price is $26.80 and its 200 day moving average price is $20.46.

About Edgewise Therapeutics

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.