244,995 Shares in Edgewise Therapeutics, Inc. $EWTX Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 244,995 shares of Edgewise Therapeutics during the second quarter, worth approximately $9.95 million and representing a 0.23% stake.
• Edgewise shares opened at $44.18, near the upper end of their 52-week range of $13.69 to $48.40. The company reported a quarterly loss of $0.53 per share, missing analyst expectations of a $0.47 loss.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $50.33, while insiders sold approximately $9.56 million of stock during the last quarter.

Deutsche Bank AG bought a new stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 244,995 shares of the company's stock, valued at approximately $9,954,000. Deutsche Bank AG owned 0.23% of Edgewise Therapeutics at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted its position in Edgewise Therapeutics by 64.9% during the 1st quarter. Parallel Advisors LLC now owns 1,032 shares of the company's stock worth $33,000 after acquiring an additional 406 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Edgewise Therapeutics during the second quarter valued at $45,000. Jones Financial Companies Lllp acquired a new position in shares of Edgewise Therapeutics during the first quarter valued at $47,000. KBC Group NV bought a new stake in shares of Edgewise Therapeutics during the first quarter valued at about $49,000. Finally, Seven Fleet Capital Management LP bought a new stake in shares of Edgewise Therapeutics during the fourth quarter valued at about $50,000.

Edgewise Therapeutics Price Performance

Shares of Edgewise Therapeutics stock opened at $44.18 on Monday. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of -23.88 and a beta of 0.30. The business has a fifty day simple moving average of $41.15 and a 200-day simple moving average of $35.21. Edgewise Therapeutics, Inc. has a fifty-two week low of $13.69 and a fifty-two week high of $48.40.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.47) by ($0.06). Analysts anticipate that Edgewise Therapeutics, Inc. will post -2.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on EWTX shares. Evercore reaffirmed an "outperform" rating and issued a $55.00 price objective on shares of Edgewise Therapeutics in a report on Monday, July 20th. Truist Financial set a $52.00 target price on shares of Edgewise Therapeutics in a research note on Wednesday, May 6th. HC Wainwright restated a "buy" rating and set a $45.00 price target on shares of Edgewise Therapeutics in a research report on Tuesday, June 16th. The Goldman Sachs Group upped their price target on shares of Edgewise Therapeutics from $32.00 to $36.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 11th. Finally, Oppenheimer initiated coverage on shares of Edgewise Therapeutics in a report on Thursday, July 9th. They issued an "outperform" rating and a $51.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $50.33.

Insider Buying and Selling at Edgewise Therapeutics

In other news, General Counsel John R. Moore sold 5,016 shares of Edgewise Therapeutics stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $43.82, for a total value of $219,801.12. Following the transaction, the general counsel owned 17,697 shares of the company's stock, valued at $775,482.54. The trade was a 22.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alan J. Russell sold 200,000 shares of Edgewise Therapeutics stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $39.41, for a total transaction of $7,882,000.00. Following the completion of the transaction, the insider directly owned 24,555 shares in the company, valued at $967,712.55. This represents a 89.07% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 238,329 shares of company stock worth $9,557,529. Company insiders own 21.30% of the company's stock.

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.

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