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

UBS Group AG raised its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 1,755.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,117,073 shares of the company’s stock after purchasing an additional 2,002,945 shares during the period. UBS Group AG’s holdings in Edgewise Therapeutics were worth $52,535,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Aberdeen Group plc grew its holdings in Edgewise Therapeutics by 39.8% during the third quarter. Aberdeen Group plc now owns 619,878 shares of the company’s stock valued at $10,054,000 after purchasing an additional 176,559 shares during the period. SG Americas Securities LLC grew its holdings in Edgewise Therapeutics by 797.9% during the fourth quarter. SG Americas Securities LLC now owns 88,723 shares of the company’s stock valued at $2,202,000 after purchasing an additional 78,842 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Edgewise Therapeutics during the third quarter valued at about $929,000. HighVista Strategies LLC grew its holdings in Edgewise Therapeutics by 198.5% during the third quarter. HighVista Strategies LLC now owns 208,101 shares of the company’s stock valued at $3,375,000 after purchasing an additional 138,378 shares during the period. Finally, GSA Capital Partners LLP boosted its holdings in Edgewise Therapeutics by 315.2% in the 3rd quarter. GSA Capital Partners LLP now owns 113,243 shares of the company’s stock worth $1,837,000 after buying an additional 85,967 shares during the period.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Evercore reaffirmed an “outperform” rating and issued a $45.00 target price on shares of Edgewise Therapeutics in a report on Thursday, February 26th. Piper Sandler reaffirmed an “overweight” rating on shares of Edgewise Therapeutics in a report on Monday, February 9th. HC Wainwright raised shares of Edgewise Therapeutics to a “strong-buy” rating in a report on Thursday, February 26th. Raymond James Financial set a $46.00 target price on shares of Edgewise Therapeutics in a report on Tuesday, March 10th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $32.00 target price on shares of Edgewise Therapeutics in a report on Tuesday, March 17th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.13.

Insider Activity at Edgewise Therapeutics

In other news, CMO Joanne M. Donovan sold 50,000 shares of the stock in a transaction that occurred on 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 transaction, the chief marketing officer directly owned 4,367 shares in the company, valued at approximately $168,435.19. This represents a 91.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 83,892 shares of company stock worth $3,018,216. 23.20% of the stock is currently owned by corporate insiders.

Edgewise Therapeutics Stock Up 20.9%

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

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.04). As a group, sell-side analysts expect that Edgewise Therapeutics, Inc. will post -2.16 earnings per share for the current year.

Edgewise Therapeutics Company 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.