Deutsche Bank AG Grows Stock Position in Edgewise Therapeutics, Inc. $EWTX

Key Points

• Deutsche Bank AG increased its stake in Edgewise Therapeutics, acquiring 100,223 additional shares in the first quarter, bringing its total holdings to $8.27 million.
• Wall Street analysts have issued a consensus target price of $41.60 for Edgewise Therapeutics, with a majority rating of buy or strong buy.
• Edgewise Therapeutics recently reported an EPS of ($0.34), exceeding analysts' expectations of ($0.42), indicating positive financial performance.

Deutsche Bank AG raised its stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 36.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 376,060 shares of the company's stock after buying an additional 100,223 shares during the period. Deutsche Bank AG owned about 0.36% of Edgewise Therapeutics worth $8,273,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in EWTX. Diadema Partners LP bought a new stake in shares of Edgewise Therapeutics in the 4th quarter valued at about $36,000. GF Fund Management CO. LTD. bought a new stake in shares of Edgewise Therapeutics in the 4th quarter valued at about $53,000. Aquatic Capital Management LLC bought a new stake in shares of Edgewise Therapeutics in the 4th quarter valued at about $77,000. Tower Research Capital LLC TRC grew its position in shares of Edgewise Therapeutics by 1,097.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,676 shares of the company's stock valued at $98,000 after buying an additional 3,369 shares during the last quarter. Finally, Summit Investment Advisors Inc. grew its position in shares of Edgewise Therapeutics by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,594 shares of the company's stock valued at $203,000 after buying an additional 482 shares during the last quarter.

Edgewise Therapeutics Stock Up 0.3%

Edgewise Therapeutics stock traded up $0.04 during mid-day trading on Wednesday, reaching $13.84. 426,931 shares of the company's stock were exchanged, compared to its average volume of 667,335. The business's fifty day simple moving average is $13.81 and its 200 day simple moving average is $17.41. The firm has a market capitalization of $1.46 billion, a PE ratio of -8.93 and a beta of 0.26. Edgewise Therapeutics, Inc. has a one year low of $10.60 and a one year 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) EPS for the quarter, topping analysts' consensus estimates of ($0.42) by $0.08. On average, sell-side analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

Insiders Place Their Bets

In related news, CMO Joanne M. Donovan sold 2,862 shares of Edgewise Therapeutics stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total transaction 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. This trade represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alan J. Russell sold 1,907 shares of Edgewise Therapeutics stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total value of $25,534.73. Following the sale, the insider owned 23,400 shares in the company, valued at $313,326. This trade represents a 7.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,267 shares of company stock valued at $217,815. 23.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EWTX. JPMorgan Chase & Co. cut their target price on Edgewise Therapeutics from $40.00 to $30.00 and set an "overweight" rating on the stock in a research report on Tuesday. Guggenheim began coverage on Edgewise Therapeutics in a research note on Wednesday, April 30th. They set a "buy" rating and a $41.00 price target on the stock. Raymond James Financial began coverage on Edgewise Therapeutics in a research note on Wednesday, July 30th. They set a "strong-buy" rating and a $46.00 price target on the stock. HC Wainwright began coverage on Edgewise Therapeutics in a research note on Monday, June 30th. They set a "buy" rating and a $42.00 price target on the stock. Finally, Royal Bank Of Canada upped their price target on Edgewise Therapeutics from $48.00 to $49.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $40.55.

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.