EFG Asset Management North America Corp. Acquires 63,048 Shares of Edgewise Therapeutics, Inc. $EWTX

Key Points

• EFG Asset Management North America Corp. increased its holdings in Edgewise Therapeutics by 152.5%, owning 104,386 shares worth approximately $2.3 million after purchasing an additional 63,048 shares.
• Edgewise Therapeutics has a market capitalization of $1.54 billion, with current shares trading at around $14.62 after fluctuating within a one-year range of $10.60 to $38.12.
• The company reported an earnings per share (EPS) of ($0.34) for the last quarter, beating analysts' expectations by $0.08.

EFG Asset Management North America Corp. increased its stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 152.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 104,386 shares of the company's stock after purchasing an additional 63,048 shares during the period. EFG Asset Management North America Corp. owned approximately 0.10% of Edgewise Therapeutics worth $2,297,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new position in Edgewise Therapeutics in the 4th quarter worth $2,845,000. GAMMA Investing LLC boosted its stake in shares of Edgewise Therapeutics by 2,243.2% during the 1st quarter. GAMMA Investing LLC now owns 30,954 shares of the company's stock worth $681,000 after buying an additional 29,633 shares during the last quarter. Aberdeen Group plc boosted its stake in shares of Edgewise Therapeutics by 75.8% during the 1st quarter. Aberdeen Group plc now owns 313,025 shares of the company's stock worth $6,887,000 after buying an additional 134,982 shares during the last quarter. Ensign Peak Advisors Inc acquired a new position in shares of Edgewise Therapeutics during the 4th quarter worth about $2,150,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Edgewise Therapeutics by 231.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 279,125 shares of the company's stock worth $7,453,000 after buying an additional 194,831 shares during the last quarter.

Edgewise Therapeutics Stock Up 1.4%

Shares of Edgewise Therapeutics stock traded up $0.21 on Wednesday, hitting $14.96. The stock had a trading volume of 214,002 shares, compared to its average volume of 1,194,734. Edgewise Therapeutics, Inc. has a twelve month low of $10.60 and a twelve month high of $38.12. The business's 50 day moving average is $13.95 and its two-hundred day moving average is $16.14. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -9.65 and a beta of 0.26.

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 the consensus estimate of ($0.42) by $0.08. As a group, equities analysts predict that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Insider Transactions at Edgewise Therapeutics

In other news, insider Alan J. Russell sold 100,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider directly owned 23,400 shares of the company's stock, valued at approximately $341,640. This trade represents a 81.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Joanne M. Donovan sold 2,862 shares of Edgewise Therapeutics stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $13.39, for a total transaction of $38,322.18. Following the completion of the sale, the chief marketing officer owned 25,361 shares of the company's stock, valued at approximately $339,583.79. The trade was a 10.14% 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 worth $1,677,815 over the last three months. Company insiders own 23.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on EWTX shares. 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 objective for the company. Royal Bank Of Canada increased their price objective on shares of Edgewise Therapeutics from $48.00 to $49.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. JPMorgan Chase & Co. reduced their price objective on shares of Edgewise Therapeutics from $40.00 to $30.00 and set an "overweight" rating for the company in a research note on Tuesday, August 19th. Finally, Raymond James Financial initiated coverage on shares of Edgewise Therapeutics in a research note on Wednesday, July 30th. They issued a "strong-buy" rating and a $46.00 target price for the company. One research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $40.55.

Edgewise Therapeutics 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.