Universal Beteiligungs und Servicegesellschaft mbH Acquires New Holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 90,031 shares of the company's stock, valued at approximately $2,404,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.10% of Edgewise Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Summit Investment Advisors Inc. increased its stake in shares of Edgewise Therapeutics by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,594 shares of the company's stock worth $203,000 after purchasing an additional 482 shares during the last quarter. Alliancebernstein L.P. grew its stake in Edgewise Therapeutics by 1.7% in the 4th quarter. Alliancebernstein L.P. now owns 77,260 shares of the company's stock valued at $2,063,000 after buying an additional 1,300 shares during the last quarter. Diadema Partners LP acquired a new position in Edgewise Therapeutics in the 4th quarter valued at $36,000. Rhumbline Advisers grew its stake in Edgewise Therapeutics by 1.5% in the 4th quarter. Rhumbline Advisers now owns 102,397 shares of the company's stock valued at $2,734,000 after buying an additional 1,525 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Edgewise Therapeutics by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,313 shares of the company's stock valued at $1,103,000 after buying an additional 1,595 shares during the last quarter.

Insider Activity at Edgewise Therapeutics

In related news, Director Orbimed Advisors Llc bought 496,771 shares of the company's stock in a transaction on Thursday, April 3rd. The stock was bought at an average cost of $20.13 per share, with a total value of $10,000,000.23. Following the completion of the purchase, the director now owns 14,809,075 shares in the company, valued at approximately $298,106,679.75. The trade was a 3.47% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel John R. Moore sold 1,930 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $16.45, for a total transaction of $31,748.50. Following the completion of the transaction, the general counsel now directly owns 6,531 shares of the company's stock, valued at approximately $107,434.95. This represents a 22.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,258 shares of company stock valued at $234,544 in the last ninety days. Insiders own 23.20% of the company's stock.

Edgewise Therapeutics Stock Performance

Shares of NASDAQ:EWTX traded up $0.42 during midday trading on Friday, reaching $15.24. 1,196,793 shares of the company's stock were exchanged, compared to its average volume of 1,195,175. The company's 50 day simple moving average is $14.15 and its two-hundred day simple moving average is $22.93. The firm has a market capitalization of $1.60 billion, a PE ratio of -10.16 and a beta of 0.28. Edgewise Therapeutics, Inc. has a 12 month low of $10.60 and a 12 month high of $38.12.

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

Wall Street Analyst Weigh In

EWTX has been the topic of a number of research analyst reports. 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 target price on the stock. Scotiabank lowered shares of Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the company from $50.00 to $14.00 in a research note on Wednesday, April 2nd. Royal Bank of Canada reiterated an "outperform" rating and issued a $48.00 target price on shares of Edgewise Therapeutics in a research note on Thursday. Wedbush reissued an "outperform" rating and issued a $43.00 price target on shares of Edgewise Therapeutics in a report on Monday, April 21st. Finally, Piper Sandler reissued an "overweight" rating and issued a $51.00 price target on shares of Edgewise Therapeutics in a report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $39.78.

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.