Nuveen LLC Invests $4.46 Million in Edgewise Therapeutics, Inc. $EWTX

Key Points

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Nuveen LLC purchased a new position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 202,580 shares of the company's stock, valued at approximately $4,457,000. Nuveen LLC owned about 0.19% of Edgewise Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in EWTX. Point72 Asset Management L.P. purchased a new position in Edgewise Therapeutics in the fourth quarter worth $2,845,000. GAMMA Investing LLC raised its position in Edgewise Therapeutics by 2,243.2% during 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 in the last quarter. Ensign Peak Advisors Inc bought a new stake in Edgewise Therapeutics during the fourth quarter worth about $2,150,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Edgewise Therapeutics by 231.1% in 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 purchasing an additional 194,831 shares in the last quarter. Finally, Jennison Associates LLC bought a new position in shares of Edgewise Therapeutics during the 1st quarter valued at about $2,832,000.

Insider Activity

In other Edgewise Therapeutics news, CEO Kevin Koch sold 7,972 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $13.39, for a total transaction of $106,745.08. Following the transaction, the chief executive officer directly owned 30,615 shares of the company's stock, valued at approximately $409,934.85. The trade was a 20.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 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 completion of the transaction, the chief marketing officer owned 25,361 shares of the company's stock, valued at $339,583.79. This trade represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 116,267 shares of company stock valued at $1,677,815. Company insiders own 23.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Royal Bank Of Canada raised their price objective on Edgewise Therapeutics from $48.00 to $49.00 and gave the company an "outperform" rating in a report on Friday, August 8th. 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. HC Wainwright initiated coverage on shares of Edgewise Therapeutics in a report on Monday, June 30th. They issued a "buy" rating and a $42.00 price objective for the company. Finally, JPMorgan Chase & Co. cut 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. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $40.55.

Edgewise Therapeutics Trading Down 2.0%

Shares of NASDAQ:EWTX traded down $0.30 during trading on Monday, reaching $14.35. 670,556 shares of the company traded hands, compared to its average volume of 732,662. Edgewise Therapeutics, Inc. has a 52-week low of $10.60 and a 52-week high of $38.12. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -9.26 and a beta of 0.26. The business's fifty day moving average is $13.79 and its 200-day moving average is $16.56.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.08. On average, sell-side analysts predict 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.