Aberdeen Group plc Purchases 134,982 Shares of Edgewise Therapeutics, Inc. $EWTX

Aberdeen Group plc boosted its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 75.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 313,025 shares of the company’s stock after purchasing an additional 134,982 shares during the period. Aberdeen Group plc’s holdings in Edgewise Therapeutics were worth $6,887,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Baker BROS. Advisors LP grew its holdings in shares of Edgewise Therapeutics by 5.4% during the fourth quarter. Baker BROS. Advisors LP now owns 6,155,940 shares of the company’s stock worth $164,364,000 after purchasing an additional 315,881 shares during the last quarter. Janus Henderson Group PLC boosted its position in Edgewise Therapeutics by 9.3% during the 4th quarter. Janus Henderson Group PLC now owns 4,983,940 shares of the company’s stock worth $133,044,000 after buying an additional 425,421 shares during the period. Paradigm Biocapital Advisors LP boosted its position 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 worth $119,988,000 after buying an additional 1,704,757 shares during the period. Braidwell LP boosted its position in 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 buying an additional 373,886 shares during the period. Finally, Deerfield Management Company L.P. Series C grew its holdings in Edgewise Therapeutics by 16.7% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 2,078,509 shares of the company’s stock worth $55,496,000 after acquiring an additional 297,503 shares during the last quarter.

Edgewise Therapeutics Trading Up 0.3%

Shares of EWTX opened at $13.84 on Thursday. The firm’s fifty day simple moving average is $13.81 and its two-hundred day simple moving average is $17.41. Edgewise Therapeutics, Inc. has a 12 month low of $10.60 and a 12 month high of $38.12. The stock has a market capitalization of $1.46 billion, a P/E ratio of -8.93 and a beta of 0.26.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.08. As a group, research analysts predict that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on EWTX shares. JPMorgan Chase & Co. dropped their price target on shares of Edgewise Therapeutics from $40.00 to $30.00 and set an “overweight” rating for the company in a research note on Tuesday. Royal Bank Of Canada increased their price objective on Edgewise Therapeutics from $48.00 to $49.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Raymond James Financial began coverage on Edgewise Therapeutics in a research report on Wednesday, July 30th. They set a “strong-buy” rating and a $46.00 target price for the company. Guggenheim initiated coverage on Edgewise Therapeutics in a research report on Wednesday, April 30th. They issued a “buy” rating and a $41.00 price target on the stock. Finally, HC Wainwright began coverage on Edgewise Therapeutics in a research note on Monday, June 30th. They issued a “buy” rating and a $42.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.55.

Insiders Place Their Bets

In other news, insider Alan J. Russell sold 1,907 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $13.39, for a total transaction of $25,534.73. Following the completion of the sale, the insider owned 23,400 shares of the company’s stock, valued at $313,326. This trade represents a 7.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel John R. Moore sold 2,098 shares of Edgewise Therapeutics stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $13.39, for a total transaction of $28,092.22. Following the completion of the sale, the general counsel owned 10,214 shares of the company’s stock, valued at $136,765.46. This represents a 17.04% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,267 shares of company stock valued at $217,815. Company insiders own 23.20% of the company’s stock.

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.