Skandinaviska Enskilda Banken AB publ Makes New Investment in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Skandinaviska Enskilda Banken AB publ bought a new position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 37,591 shares of the company's stock, valued at approximately $827,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Readystate Asset Management LP lifted its stake in shares of Edgewise Therapeutics by 1,591.0% during the 1st quarter. Readystate Asset Management LP now owns 361,233 shares of the company's stock valued at $7,947,000 after buying an additional 339,871 shares in the last quarter. Jennison Associates LLC purchased a new position in shares of Edgewise Therapeutics during the 1st quarter valued at $2,832,000. Arizona State Retirement System lifted its stake in shares of Edgewise Therapeutics by 12.3% during the 1st quarter. Arizona State Retirement System now owns 12,201 shares of the company's stock valued at $268,000 after buying an additional 1,338 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Edgewise Therapeutics during the 1st quarter valued at $283,000. Finally, Contravisory Investment Management Inc. purchased a new position in shares of Edgewise Therapeutics during the 1st quarter valued at $225,000.

Wall Street Analyst Weigh In

EWTX has been the subject of a number of research analyst reports. Guggenheim assumed coverage on Edgewise Therapeutics in a research report on Wednesday, April 30th. They set a "buy" rating and a $41.00 price objective for the company. Raymond James Financial assumed coverage on Edgewise Therapeutics in a report on Wednesday. They set a "strong-buy" rating and a $46.00 price target for the company. HC Wainwright initiated coverage on Edgewise Therapeutics in a research note on Monday, June 30th. They issued a "buy" rating and a $42.00 price objective on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $48.00 price objective on shares of Edgewise Therapeutics in a report on Thursday, June 5th. Finally, Wedbush reissued an "outperform" rating and issued a $43.00 target price on shares of Edgewise Therapeutics in a report on Monday, April 21st. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $40.55.

Edgewise Therapeutics Price Performance

EWTX traded up $0.05 on Friday, reaching $14.31. 647,574 shares of the company's stock were exchanged, compared to its average volume of 1,274,584. The stock has a market cap of $1.51 billion, a PE ratio of -9.23 and a beta of 0.25. Edgewise Therapeutics, Inc. has a twelve month low of $10.60 and a twelve month high of $38.12. The stock's fifty day moving average price is $14.12 and its 200-day moving average price is $18.75.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.43) earnings per share for the quarter, topping analysts' consensus estimates of ($0.45) by $0.02. As a group, research 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.