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

Aberdeen Group plc lifted its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 32.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 821,940 shares of the company’s stock after buying an additional 202,062 shares during the period. Aberdeen Group plc owned approximately 0.78% of Edgewise Therapeutics worth $20,396,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp purchased a new position in shares of Edgewise Therapeutics in the 1st quarter worth approximately $47,000. Bessemer Group Inc. boosted its holdings in shares of Edgewise Therapeutics by 1,170.3% in the 3rd quarter. Bessemer Group Inc. now owns 2,350 shares of the company’s stock worth $38,000 after buying an additional 2,165 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Edgewise Therapeutics in the 2nd quarter worth about $45,000. Strs Ohio purchased a new position in shares of Edgewise Therapeutics in the 1st quarter worth about $84,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Edgewise Therapeutics by 29,858.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 7,190 shares of the company’s stock worth $117,000 after buying an additional 7,166 shares during the last quarter.

Edgewise Therapeutics Trading Down 1.5%

Shares of NASDAQ EWTX opened at $32.83 on Tuesday. The stock has a fifty day simple moving average of $30.02 and a two-hundred day simple moving average of $24.19. Edgewise Therapeutics, Inc. has a 1-year low of $10.60 and a 1-year high of $34.00. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of -20.14 and a beta of 0.24.

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

Insider Buying and Selling at Edgewise Therapeutics

In other Edgewise Therapeutics news, Director Badreddin Edris sold 115,471 shares of the 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 sale, the director owned 19,820 shares in the company, valued at $583,500.80. This represents a 85.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Joanne M. Donovan sold 28,662 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $32.31, for a total value of $926,069.22. The disclosure for this sale is available in the SEC filing. Corporate insiders own 23.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on EWTX shares. HC Wainwright raised shares of Edgewise Therapeutics to a “strong-buy” rating in a report on Thursday, February 26th. JPMorgan Chase & Co. boosted their price target on shares of Edgewise Therapeutics from $34.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, March 17th. Piper Sandler reissued an “overweight” rating on shares of Edgewise Therapeutics in a report on Monday, February 9th. Evercore reissued an “outperform” rating and set a $45.00 price objective on shares of Edgewise Therapeutics in a report on Thursday, February 26th. Finally, Wall Street Zen lowered Edgewise Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given 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 an average price target of $38.44.

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.