Deutsche Bank AG Has $8.27 Million Holdings in Edgewise Therapeutics, Inc. (NASDAQ: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 lifted its stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 36.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 376,060 shares of the company's stock after acquiring an additional 100,223 shares during the period. Deutsche Bank AG owned 0.36% of Edgewise Therapeutics worth $8,273,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Paradigm Biocapital Advisors LP increased its holdings in Edgewise Therapeutics by 61.1% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 4,493,929 shares of the company's stock worth $119,988,000 after buying an additional 1,704,757 shares during the last quarter. First Light Asset Management LLC acquired a new position in Edgewise Therapeutics during the fourth quarter worth about $20,843,000. Foresite Capital Management VI LLC acquired a new position in Edgewise Therapeutics during the fourth quarter worth about $15,620,000. Janus Henderson Group PLC increased its stake in shares of Edgewise Therapeutics by 9.3% in the fourth quarter. Janus Henderson Group PLC now owns 4,983,940 shares of the company's stock valued at $133,044,000 after buying an additional 425,421 shares during the period. Finally, Braidwell LP increased its stake in shares of Edgewise Therapeutics by 19.1% in the fourth quarter. Braidwell LP now owns 2,332,196 shares of the company's stock valued at $62,270,000 after buying an additional 373,886 shares during the period.

Insiders Place Their Bets

In related news, CEO Kevin Koch sold 7,972 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total value of $106,745.08. Following the completion of the transaction, the chief executive officer directly owned 30,615 shares in the company, valued at approximately $409,934.85. This represents a 20.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CMO Joanne M. Donovan sold 2,862 shares of the company'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 completion of the sale, the chief marketing officer directly owned 25,361 shares of the company's stock, valued at $339,583.79. The trade was a 10.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,267 shares of company stock valued at $217,815. 23.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Raymond James Financial started coverage on Edgewise Therapeutics in a research report on Wednesday, July 30th. They set a "strong-buy" rating and a $46.00 target price for the company. Wedbush restated an "outperform" rating and issued a $43.00 target price on shares of Edgewise Therapeutics in a research report on Monday, April 21st. Royal Bank Of Canada lifted 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. HC Wainwright assumed coverage on Edgewise Therapeutics in a research note on Monday, June 30th. They issued a "buy" rating and a $42.00 price target on the stock. Finally, Guggenheim initiated coverage on Edgewise Therapeutics in a report on Wednesday, April 30th. They issued a "buy" rating and a $41.00 target price on the stock. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $41.60.

Edgewise Therapeutics Price Performance

Edgewise Therapeutics stock traded up $0.22 during mid-day trading on Friday, reaching $14.15. The stock had a trading volume of 574,623 shares, compared to its average volume of 640,491. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -9.13 and a beta of 0.26. The company has a 50-day moving average price of $13.91 and a two-hundred day moving average price of $17.56. 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 posted its earnings results on Thursday, August 7th. The company reported ($0.34) EPS for the quarter, beating analysts' consensus estimates of ($0.42) by $0.08. On average, equities research analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal 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.