SEB Asset Management AB Makes New Investment in Edgewise Therapeutics, Inc. $EWTX

SEB Asset Management AB bought a new position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 206,512 shares of the company’s stock, valued at approximately $6,505,000. SEB Asset Management AB owned approximately 0.19% of Edgewise Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in EWTX. Optimize Financial Inc lifted its position in shares of Edgewise Therapeutics by 1.5% during the fourth quarter. Optimize Financial Inc now owns 27,679 shares of the company’s stock valued at $687,000 after purchasing an additional 396 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in Edgewise Therapeutics by 23.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,854 shares of the company’s stock valued at $71,000 after buying an additional 550 shares during the last quarter. California State Teachers Retirement System increased its stake in Edgewise Therapeutics by 2.4% in the 2nd quarter. California State Teachers Retirement System now owns 36,878 shares of the company’s stock valued at $483,000 after buying an additional 850 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Edgewise Therapeutics by 26.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,145 shares of the company’s stock valued at $128,000 after buying an additional 1,072 shares during the last quarter. Finally, Creative Planning lifted its position in shares of Edgewise Therapeutics by 6.7% during the 3rd quarter. Creative Planning now owns 18,036 shares of the company’s stock worth $293,000 after buying an additional 1,126 shares in the last quarter.

Analysts Set New Price Targets

EWTX has been the topic of a number of research analyst reports. Oppenheimer assumed coverage on Edgewise Therapeutics in a research note on Thursday, July 9th. They issued an “outperform” rating and a $51.00 target price on the stock. Truist Financial set a $52.00 price target on Edgewise Therapeutics in a research report on Wednesday, May 6th. HC Wainwright reiterated a “buy” rating and set a $45.00 price target on shares of Edgewise Therapeutics in a report on Tuesday, June 16th. Raymond James Financial reissued a “strong-buy” rating and issued a $66.00 price objective on shares of Edgewise Therapeutics in a research report on Monday, June 1st. Finally, Evercore restated an “outperform” rating and issued a $55.00 price objective on shares of Edgewise Therapeutics in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.75.

Insider Activity at Edgewise Therapeutics

In other Edgewise Therapeutics news, insider Alan J. Russell sold 200,000 shares of the stock in a transaction on 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 transaction, the insider directly owned 24,555 shares of the company’s stock, valued at approximately $967,712.55. This represents a 89.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Joanne M. Donovan sold 50,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $38.57, for a total value of $1,928,500.00. Following the completion of the sale, the chief marketing officer owned 4,367 shares in the company, valued at approximately $168,435.19. The trade was a 91.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 255,230 shares of company stock worth $9,974,147. 21.30% of the stock is owned by company insiders.

Edgewise Therapeutics Stock Performance

Shares of EWTX stock opened at $39.58 on Wednesday. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of -23.84 and a beta of 0.27. Edgewise Therapeutics, Inc. has a 52 week low of $12.30 and a 52 week high of $48.40. The firm’s 50-day simple moving average is $37.33 and its two-hundred day simple moving average is $32.67.

Edgewise Therapeutics (NASDAQ:EWTX) last released its earnings results on Thursday, May 7th. The company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.04. Analysts forecast that Edgewise Therapeutics, Inc. will post -2.01 earnings per share for the current year.

Edgewise Therapeutics 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.