Deutsche Bank AG Grows Holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Deutsche Bank AG raised its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 26.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 275,837 shares of the company's stock after acquiring an additional 57,955 shares during the period. Deutsche Bank AG owned approximately 0.29% of Edgewise Therapeutics worth $7,365,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Diadema Partners LP acquired a new stake in shares of Edgewise Therapeutics during the fourth quarter valued at about $36,000. Aquatic Capital Management LLC acquired a new position in shares of Edgewise Therapeutics in the fourth quarter valued at approximately $77,000. Tower Research Capital LLC TRC grew its holdings in shares of Edgewise Therapeutics by 1,097.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,676 shares of the company's stock valued at $98,000 after purchasing an additional 3,369 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Edgewise Therapeutics in the fourth quarter valued at approximately $103,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Edgewise Therapeutics in the fourth quarter valued at approximately $182,000.

Insider Activity at Edgewise Therapeutics

In related news, General Counsel John R. Moore sold 1,930 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $16.45, for a total value of $31,748.50. Following the completion of the sale, the general counsel now owns 6,531 shares in the company, valued at $107,434.95. This represents a 22.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Orbimed Advisors Llc purchased 496,771 shares of Edgewise Therapeutics stock in a transaction that occurred on Thursday, April 3rd. The stock was acquired at an average price of $20.13 per share, with a total value of $10,000,000.23. Following the transaction, the director now owns 14,809,075 shares in the company, valued at $298,106,679.75. The trade was a 3.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 14,258 shares of company stock worth $234,544 in the last 90 days. 23.20% of the stock is owned by insiders.

Analysts Set New Price Targets

EWTX has been the subject of a number of research reports. Guggenheim initiated coverage on shares of Edgewise Therapeutics in a report on Wednesday, April 30th. They issued a "buy" rating and a $41.00 price objective for the company. Royal Bank of Canada dropped their price objective on shares of Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating for the company in a report on Thursday, April 3rd. Scotiabank cut shares of Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the company from $50.00 to $14.00 in a report on Wednesday, April 2nd. Wedbush restated an "outperform" rating and issued a $43.00 price objective on shares of Edgewise Therapeutics in a report on Monday, April 21st. Finally, Piper Sandler restated an "overweight" rating and issued a $51.00 price objective on shares of Edgewise Therapeutics in a report on Wednesday, April 2nd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $40.22.

Edgewise Therapeutics Stock Up 1.4%

EWTX traded up $0.19 on Friday, reaching $14.21. The company had a trading volume of 1,014,539 shares, compared to its average volume of 1,177,653. Edgewise Therapeutics, Inc. has a 1 year low of $10.60 and a 1 year high of $38.12. The stock has a market capitalization of $1.49 billion, a PE ratio of -9.47 and a beta of 0.36. The stock has a 50-day moving average price of $15.83 and a 200-day moving average price of $24.26.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.02. As a group, analysts expect that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

About Edgewise Therapeutics

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.