Edgewise Therapeutics, Inc. $EWTX Shares Purchased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in Edgewise Therapeutics by 5.7%, owning approximately 0.35% of the company valued at $8.07 million.
• Edgewise Therapeutics stock experienced a decline of 2.9%, opening at $14.24, with a market cap of $1.50 billion.
• Recent earnings reports showed Edgewise's EPS at ($0.34), surpassing analysts' expectations, while forecasted EPS for the current year is -1.45.

Goldman Sachs Group Inc. raised its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 5.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 366,644 shares of the company's stock after purchasing an additional 19,753 shares during the quarter. Goldman Sachs Group Inc. owned about 0.35% of Edgewise Therapeutics worth $8,066,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new position in Edgewise Therapeutics in the fourth quarter valued at $2,845,000. GAMMA Investing LLC increased its stake in Edgewise Therapeutics by 2,243.2% in the first quarter. GAMMA Investing LLC now owns 30,954 shares of the company's stock valued at $681,000 after purchasing an additional 29,633 shares during the period. Aberdeen Group plc increased its stake in Edgewise Therapeutics by 75.8% in the first quarter. Aberdeen Group plc now owns 313,025 shares of the company's stock valued at $6,887,000 after purchasing an additional 134,982 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Edgewise Therapeutics by 231.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 279,125 shares of the company's stock valued at $7,453,000 after purchasing an additional 194,831 shares during the period. Finally, Jennison Associates LLC acquired a new position in Edgewise Therapeutics in the first quarter valued at $2,832,000.

Edgewise Therapeutics Stock Down 2.9%

Shares of Edgewise Therapeutics stock opened at $14.24 on Friday. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -9.19 and a beta of 0.26. Edgewise Therapeutics, Inc. has a 52-week low of $10.60 and a 52-week high of $38.12. The company's 50-day simple moving average is $14.04 and its 200-day simple moving average is $15.92.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.34) EPS for the quarter, topping analysts' consensus estimates of ($0.42) by $0.08. Equities research analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on EWTX shares. Royal Bank Of Canada lifted their price objective 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. JPMorgan Chase & Co. dropped their price objective on shares of Edgewise Therapeutics from $40.00 to $30.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 19th. Raymond James Financial started coverage on shares of 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. Finally, HC Wainwright started 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 on the stock. 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, Edgewise Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $40.55.

Insider Activity at Edgewise Therapeutics

In related news, insider Alan J. Russell sold 100,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $14.60, for a total transaction of $1,460,000.00. Following the sale, the insider owned 23,400 shares of the company's stock, valued at approximately $341,640. The trade was a 81.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin Koch sold 7,972 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 transaction of $106,745.08. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 116,267 shares of company stock worth $1,677,815 in the last ninety days. Corporate insiders own 23.20% of the company's stock.

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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