Legal & General Group Plc Takes Position in Edgewise Therapeutics, Inc. $EWTX

Legal & General Group Plc acquired a new stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 44,688 shares of the company’s stock, valued at approximately $1,816,000.

Other large investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Edgewise Therapeutics by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,776 shares of the company’s stock valued at $963,000 after purchasing an additional 2,463 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Edgewise Therapeutics during the 1st quarter worth $47,000. Goldman Sachs Group Inc. grew its stake in Edgewise Therapeutics by 5.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 366,644 shares of the company’s stock valued at $8,066,000 after buying an additional 19,753 shares during the last quarter. Strs Ohio acquired a new position in Edgewise Therapeutics in the 1st quarter valued at $84,000. Finally, Creative Planning raised its holdings in Edgewise Therapeutics by 29.4% in the 2nd quarter. Creative Planning now owns 16,910 shares of the company’s stock worth $222,000 after acquiring an additional 3,837 shares during the period.

Insider Transactions at Edgewise Therapeutics

In other news, insider Alan J. Russell sold 5,901 shares of Edgewise Therapeutics stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $43.73, for a total transaction of $258,050.73. Following the sale, the insider owned 31,466 shares of the company’s stock, valued at approximately $1,376,008.18. This trade represents a 15.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CMO Joanne M. Donovan sold 2,919 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $43.41, for a total value of $126,713.79. Following the sale, the chief marketing officer owned 8,625 shares in the company, valued at approximately $374,411.25. This represents a 25.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 238,329 shares of company stock valued at $9,557,529 in the last ninety days. 21.30% of the stock is owned by corporate insiders.

Edgewise Therapeutics Price Performance

Shares of Edgewise Therapeutics stock opened at $43.07 on Monday. Edgewise Therapeutics, Inc. has a fifty-two week low of $13.69 and a fifty-two week high of $48.40. The firm has a fifty day moving average price of $42.20 and a two-hundred day moving average price of $36.16. The company has a market cap of $4.68 billion, a PE ratio of -23.28 and a beta of 0.32.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.06). Analysts expect that Edgewise Therapeutics, Inc. will post -2.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on EWTX. Royal Bank Of Canada boosted their target price on shares of Edgewise Therapeutics from $48.00 to $59.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 17th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $66.00 price target on shares of Edgewise Therapeutics in a research report on Monday, June 1st. Leerink Partners set a $52.00 price objective on Edgewise Therapeutics in a research note on Tuesday, June 16th. Guggenheim increased their target price on Edgewise Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Finally, Wall Street Zen raised Edgewise Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Edgewise Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $50.33.

About Edgewise Therapeutics

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.