SEB Asset Management AB Takes $6.50 Million Position in Edgewise Therapeutics, Inc. $EWTX

SEB Asset Management AB purchased a new stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) during the first quarter, Holdings Channel reports. The institutional investor purchased 206,512 shares of the company’s stock, valued at approximately $6,505,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Canada Pension Plan Investment Board purchased a new position in Edgewise Therapeutics in the 2nd quarter valued at approximately $45,000. Jones Financial Companies Lllp purchased a new stake in shares of Edgewise Therapeutics during the first quarter worth $47,000. Seven Fleet Capital Management LP purchased a new stake in shares of Edgewise Therapeutics during the fourth quarter worth $50,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Edgewise Therapeutics by 23.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,854 shares of the company’s stock worth $71,000 after acquiring an additional 550 shares during the period. Finally, Strs Ohio bought a new position in shares of Edgewise Therapeutics in the first quarter worth $84,000.

Insider Transactions at Edgewise Therapeutics

In other news, insider Alan J. Russell sold 200,000 shares of Edgewise Therapeutics stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $39.41, for a total transaction of $7,882,000.00. Following the completion of the sale, the insider owned 24,555 shares in the company, valued at approximately $967,712.55. This trade represents a 89.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Joanne M. Donovan sold 50,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $38.57, for a total value of $1,928,500.00. Following the transaction, the chief marketing officer directly owned 4,367 shares of the company’s stock, valued at $168,435.19. The trade was a 91.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 255,230 shares of company stock worth $9,974,147 over the last 90 days. Corporate insiders own 21.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EWTX. Evercore reiterated an “outperform” rating and set a $55.00 price objective on shares of Edgewise Therapeutics in a research note on Monday. Wedbush lifted their target price on Edgewise Therapeutics from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Royal Bank Of Canada upped their price target on Edgewise Therapeutics from $48.00 to $59.00 and gave the company an “outperform” rating in a research report on Wednesday, June 17th. HC Wainwright reissued a “buy” rating and issued a $45.00 price target on shares of Edgewise Therapeutics in a report on Tuesday, June 16th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $66.00 price objective on shares of Edgewise Therapeutics in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $48.75.

Edgewise Therapeutics Stock Performance

Edgewise Therapeutics stock opened at $39.58 on Wednesday. The stock has a market cap of $4.26 billion, a P/E ratio of -23.84 and a beta of 0.27. Edgewise Therapeutics, Inc. has a fifty-two week low of $12.30 and a fifty-two week high of $48.40. The firm’s fifty day moving average price is $37.33 and its 200-day moving average price is $32.67.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.04. Sell-side analysts predict that Edgewise Therapeutics, Inc. will post -2.01 earnings per share for the current year.

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.