Universal Beteiligungs und Servicegesellschaft mbH Invests $2.40 Million in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 90,031 shares of the company's stock, valued at approximately $2,404,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.10% of Edgewise Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Paradigm Biocapital Advisors LP raised its stake in Edgewise Therapeutics by 61.1% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 4,493,929 shares of the company's stock valued at $119,988,000 after purchasing an additional 1,704,757 shares during the last quarter. First Light Asset Management LLC acquired a new position in Edgewise Therapeutics in the fourth quarter valued at about $20,843,000. Foresite Capital Management VI LLC acquired a new position in shares of Edgewise Therapeutics during the fourth quarter worth about $15,620,000. Janus Henderson Group PLC grew its position in Edgewise Therapeutics by 9.3% in the fourth quarter. Janus Henderson Group PLC now owns 4,983,940 shares of the company's stock valued at $133,044,000 after purchasing an additional 425,421 shares in the last quarter. Finally, Braidwell LP increased its position in shares of Edgewise Therapeutics by 19.1% during the 4th quarter. Braidwell LP now owns 2,332,196 shares of the company's stock worth $62,270,000 after purchasing an additional 373,886 shares during the last quarter.

Insider Buying and Selling

In related news, CMO Joanne M. Donovan sold 5,187 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $16.45, for a total value of $85,326.15. Following the transaction, the chief marketing officer now directly owns 21,588 shares of the company's stock, valued at approximately $355,122.60. This trade represents a 19.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kevin Koch sold 4,276 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $16.45, for a total value of $70,340.20. Following the completion of the sale, the chief executive officer now owns 20,619 shares of the company's stock, valued at approximately $339,182.55. This represents a 17.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,258 shares of company stock worth $234,544. Company insiders own 23.20% of the company's stock.

Edgewise Therapeutics Stock Down 2.4%

NASDAQ:EWTX traded down $0.35 during midday trading on Wednesday, hitting $14.49. The stock had a trading volume of 1,221,821 shares, compared to its average volume of 1,187,452. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -9.66 and a beta of 0.36. Edgewise Therapeutics, Inc. has a one year low of $10.60 and a one year high of $38.12. The stock has a 50-day moving average of $14.57 and a 200 day moving average of $23.21.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Guggenheim initiated coverage on Edgewise Therapeutics in a report on Wednesday, April 30th. They set a "buy" rating and a $41.00 target price for the company. Piper Sandler reissued an "overweight" rating and issued a $51.00 price objective on shares of Edgewise Therapeutics in a report on Wednesday, April 2nd. Scotiabank cut shares of Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the stock from $50.00 to $14.00 in a report on Wednesday, April 2nd. Royal Bank of Canada reduced their price target on Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating on the stock in a research report on Thursday, April 3rd. Finally, Wedbush reaffirmed an "outperform" rating and issued a $43.00 price objective on shares of Edgewise Therapeutics in a report on Monday, April 21st. Two investment analysts have rated the stock with a hold rating and seven have issued a 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 $40.22.

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.