Aberdeen Group plc Buys 130,294 Shares of Edgewise Therapeutics, Inc. $EWTX

Aberdeen Group plc raised its holdings in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 41.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 443,319 shares of the company's stock after purchasing an additional 130,294 shares during the quarter. Aberdeen Group plc owned 0.42% of Edgewise Therapeutics worth $5,812,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jennison Associates LLC bought a new stake in Edgewise Therapeutics during the 1st quarter valued at $2,832,000. Deutsche Bank AG increased its stake in Edgewise Therapeutics by 36.3% during the 1st quarter. Deutsche Bank AG now owns 376,060 shares of the company's stock valued at $8,273,000 after purchasing an additional 100,223 shares in the last quarter. Eventide Asset Management LLC bought a new stake in Edgewise Therapeutics during the 1st quarter valued at $12,503,000. MPM Bioimpact LLC increased its stake in Edgewise Therapeutics by 2.4% during the 1st quarter. MPM Bioimpact LLC now owns 1,105,444 shares of the company's stock valued at $24,320,000 after purchasing an additional 26,128 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in Edgewise Therapeutics during the 1st quarter valued at $827,000.

Insider Activity at Edgewise Therapeutics

In related news, CMO Joanne M. Donovan sold 2,862 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total value of $38,322.18. Following the sale, the chief marketing officer directly owned 25,361 shares in the company, valued at approximately $339,583.79. The trade was a 10.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel John R. Moore sold 2,098 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $13.39, for a total value of $28,092.22. Following the completion of the sale, the general counsel owned 10,214 shares in the company, valued at $136,765.46. This represents a 17.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 116,267 shares of company stock valued at $1,677,815 over the last quarter. Corporate insiders own 23.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Royal Bank Of Canada boosted their price target on shares of Edgewise Therapeutics from $48.00 to $49.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. HC Wainwright initiated coverage on shares of Edgewise Therapeutics in a research note on Monday, June 30th. They set a "buy" rating and a $42.00 price target for the company. JPMorgan Chase & Co. cut their price objective on shares of Edgewise Therapeutics from $40.00 to $30.00 and set an "overweight" rating on the stock in a report on Tuesday, August 19th. Raymond James Financial initiated coverage on shares of Edgewise Therapeutics in a report on Wednesday, July 30th. They set a "strong-buy" rating and a $46.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Edgewise Therapeutics in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $38.83.

Edgewise Therapeutics Stock Performance

Shares of NASDAQ:EWTX opened at $15.32 on Friday. The company's 50-day moving average is $14.72 and its 200 day moving average is $14.33. The company has a market capitalization of $1.61 billion, a P/E ratio of -9.88 and a beta of 0.28. Edgewise Therapeutics, Inc. has a fifty-two week low of $10.60 and a fifty-two week high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last issued 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 predict that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

Edgewise Therapeutics Company 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.

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