TD Asset Management Inc Invests $730,000 in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Key Points

• TD Asset Management Inc has invested approximately $730,000 in Edgewise Therapeutics, acquiring 33,200 shares during the 1st quarter.
• Edgewise Therapeutics' shares are currently down 4.9%, with a market cap of $1.43 billion and a reported earnings per share of ($0.43).
• Various institutional investors have modified their positions in Edgewise, with Skandinaviska Enskilda Banken AB investing around $827,000 in the same period.

TD Asset Management Inc acquired a new position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 33,200 shares of the company's stock, valued at approximately $730,000.

Several other institutional investors also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Edgewise Therapeutics during the 1st quarter worth about $827,000. Readystate Asset Management LP increased 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 worth $7,947,000 after purchasing an additional 339,871 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Edgewise Therapeutics during the 1st quarter worth about $2,832,000. Arizona State Retirement System increased 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 worth $268,000 after purchasing an additional 1,338 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Edgewise Therapeutics during the 1st quarter worth about $283,000.

Edgewise Therapeutics Stock Down 4.9%

Shares of NASDAQ:EWTX opened at $13.61 on Tuesday. The company's 50 day moving average price is $14.11 and its two-hundred day moving average price is $18.44. Edgewise Therapeutics, Inc. has a 12-month low of $10.60 and a 12-month high of $38.12. The firm has a market cap of $1.43 billion, a PE ratio of -8.78 and a beta of 0.26.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.45) by $0.02. On average, research analysts expect that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Wall Street Analyst Weigh In

EWTX has been the topic of a number of research reports. Wedbush reiterated an "outperform" rating and issued a $43.00 price target on shares of Edgewise Therapeutics in a research note on Monday, April 21st. HC Wainwright initiated coverage on shares of Edgewise Therapeutics in a research note on Monday, June 30th. They issued a "buy" rating and a $42.00 price target on the stock. 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 price target on the stock. Guggenheim initiated coverage on shares of Edgewise Therapeutics in a research note on Wednesday, April 30th. They issued a "buy" rating and a $41.00 price target on the stock. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $48.00 price target on shares of Edgewise Therapeutics in a research note on Thursday, June 5th. Two equities 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.

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