Vontobel Holding Ltd. Makes New Investment in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Vontobel Holding Ltd. acquired a new position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 327,801 shares of the company’s stock, valued at approximately $3,586,000. Vontobel Holding Ltd. owned approximately 0.52% of Edgewise Therapeutics at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Legal & General Group Plc grew its position in shares of Edgewise Therapeutics by 41.2% in the fourth quarter. Legal & General Group Plc now owns 3,634 shares of the company’s stock valued at $32,000 after purchasing an additional 1,060 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Edgewise Therapeutics by 395.2% in the third quarter. Tower Research Capital LLC TRC now owns 6,056 shares of the company’s stock valued at $35,000 after purchasing an additional 4,833 shares in the last quarter. Royal Bank of Canada grew its position in shares of Edgewise Therapeutics by 82.8% in the second quarter. Royal Bank of Canada now owns 5,164 shares of the company’s stock valued at $40,000 after purchasing an additional 2,339 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Edgewise Therapeutics by 349.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock valued at $80,000 after purchasing an additional 5,704 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Edgewise Therapeutics by 11.2% in the first quarter. Principal Financial Group Inc. now owns 12,178 shares of the company’s stock valued at $81,000 after purchasing an additional 1,230 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Truist Financial restated a “buy” rating and issued a $25.00 price target on shares of Edgewise Therapeutics in a research report on Wednesday. Wedbush reiterated an “outperform” rating and issued a $26.00 price objective on shares of Edgewise Therapeutics in a report on Tuesday. Finally, Piper Sandler started coverage on Edgewise Therapeutics in a report on Thursday, March 7th. They issued an “overweight” rating and a $48.00 price objective on the stock.

Edgewise Therapeutics Stock Performance

EWTX opened at $15.65 on Thursday. Edgewise Therapeutics, Inc. has a one year low of $5.12 and a one year high of $20.69. The stock has a market capitalization of $1.46 billion, a PE ratio of -9.91 and a beta of 0.14. The business’s 50 day moving average price is $17.21 and its 200 day moving average price is $11.91.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.03). As a group, equities research analysts forecast that Edgewise Therapeutics, Inc. will post -1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Edgewise Therapeutics news, General Counsel John R. Moore sold 8,029 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $20.01, for a total transaction of $160,660.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Edgewise Therapeutics news, insider Behrad Derakhshan sold 4,600 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $20.01, for a total transaction of $92,046.00. Following the transaction, the insider now directly owns 7,020 shares in the company, valued at $140,470.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel John R. Moore sold 8,029 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $20.01, for a total value of $160,660.29. The disclosure for this sale can be found here. Insiders have sold 120,622 shares of company stock worth $2,032,766 over the last ninety days. Corporate insiders own 31.95% 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.