UBS Group AG Purchases 2,002,945 Shares of Edgewise Therapeutics, Inc. $EWTX

Key Points

• UBS Group AG boosted its stake in Edgewise by 1,755% in Q4, buying an additional 2,002,945 shares to hold 2,117,073 shares (about 2.0% of the company) worth $52.54 million.
• Insiders have been net sellers recently: CMO Joanne M. Donovan sold 50,000 shares on May 5 at $38.57 and insiders disposed of 83,892 shares worth $3.02 million over the past 90 days, although insiders still own 23.2% of the company.
• Edgewise shares opened at $38.01 (up ~20.9%), the company has a $4.09 billion market cap and a negative P/E, and analysts show a consensus rating of “Moderate Buy” with an average price target of $38.13.

UBS Group AG boosted its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 1,755.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,117,073 shares of the company's stock after purchasing an additional 2,002,945 shares during the quarter. UBS Group AG owned approximately 2.00% of Edgewise Therapeutics worth $52,535,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Aberdeen Group plc raised its holdings in Edgewise Therapeutics by 39.8% in the third quarter. Aberdeen Group plc now owns 619,878 shares of the company's stock worth $10,054,000 after purchasing an additional 176,559 shares in the last quarter. SG Americas Securities LLC raised its holdings in Edgewise Therapeutics by 797.9% in the fourth quarter. SG Americas Securities LLC now owns 88,723 shares of the company's stock worth $2,202,000 after purchasing an additional 78,842 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Edgewise Therapeutics in the third quarter worth $929,000. HighVista Strategies LLC raised its holdings in Edgewise Therapeutics by 198.5% in the third quarter. HighVista Strategies LLC now owns 208,101 shares of the company's stock worth $3,375,000 after purchasing an additional 138,378 shares in the last quarter. Finally, GSA Capital Partners LLP raised its holdings in Edgewise Therapeutics by 315.2% in the third quarter. GSA Capital Partners LLP now owns 113,243 shares of the company's stock worth $1,837,000 after purchasing an additional 85,967 shares in the last quarter.

Insider Activity

In other Edgewise Therapeutics news, CMO Joanne M. Donovan sold 50,000 shares of the business's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $38.57, for a total transaction of $1,928,500.00. Following the completion of the sale, the chief marketing officer directly owned 4,367 shares in the company, valued at $168,435.19. The trade was a 91.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 83,892 shares of company stock worth $3,018,216. Insiders own 23.20% of the company's stock.

Edgewise Therapeutics Stock Up 20.9%

Shares of EWTX stock opened at $38.01 on Wednesday. The company has a 50 day moving average price of $31.28 and a 200-day moving average price of $26.52. The firm has a market capitalization of $4.09 billion, a PE ratio of -23.32 and a beta of 0.25. Edgewise Therapeutics, Inc. has a 52 week low of $12.15 and a 52 week high of $39.96.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.04). Analysts anticipate that Edgewise Therapeutics, Inc. will post -2.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EWTX. Evercore reissued an "outperform" rating and issued a $45.00 price target on shares of Edgewise Therapeutics in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Edgewise Therapeutics in a research report on Monday, April 20th. HC Wainwright raised Edgewise Therapeutics to a "strong-buy" rating in a research report on Thursday, February 26th. Piper Sandler reaffirmed an "overweight" rating on shares of Edgewise Therapeutics in a research report on Monday, February 9th. Finally, Raymond James Financial set a $46.00 price objective on Edgewise Therapeutics in a research report on Tuesday, March 10th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $38.13.

Edgewise Therapeutics Profile

Edgewise Therapeutics, Inc NASDAQ: EWTX is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the discovery and development of precision medicines for the treatment of rare diseases. The company leverages its expertise in small-molecule chemistry and ion channel biology to address severe, unmet medical needs, particularly in the areas of kidney disorders and neuromuscular diseases.

At the core of Edgewise's pipeline is EWTX-101, a novel, orally available inhibitor of TRPC5, a calcium channel implicated in nephrotic syndromes such as focal segmental glomerulosclerosis (FSGS) and other proteinuric kidney diseases.

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