China Universal Asset Management Co. Ltd. lifted its stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE – Free Report) by 66.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,991 shares of the company’s stock after purchasing an additional 9,603 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Wave Life Sciences were worth $197,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Capstone Investment Advisors LLC raised its position in Wave Life Sciences by 9.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 54,500 shares of the company’s stock worth $336,000 after buying an additional 4,500 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Wave Life Sciences during the first quarter worth about $586,000. Swiss National Bank lifted its position in Wave Life Sciences by 2.7% in the first quarter. Swiss National Bank now owns 156,500 shares of the company’s stock valued at $966,000 after purchasing an additional 4,100 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Wave Life Sciences in the 1st quarter valued at approximately $405,000. Finally, ProShare Advisors LLC boosted its holdings in Wave Life Sciences by 35.0% in the 1st quarter. ProShare Advisors LLC now owns 21,764 shares of the company’s stock valued at $134,000 after purchasing an additional 5,648 shares in the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on WVE. Leerink Partners raised their price target on Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Royal Bank of Canada raised their target price on Wave Life Sciences from $7.00 to $15.00 and gave the company a “sector perform” rating in a report on Monday, October 21st. Wells Fargo & Company upped their price target on shares of Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $13.00 to $22.00 in a research note on Wednesday, October 16th. Finally, HC Wainwright restated a “buy” rating and set a $22.00 target price on shares of Wave Life Sciences in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.44.
Insider Activity at Wave Life Sciences
In other news, major shareholder Plc Gsk bought 2,791,930 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the purchase, the insider now owns 16,775,691 shares of the company’s stock, valued at $134,205,528. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Paul Bolno sold 90,474 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $15.00, for a total transaction of $1,357,110.00. Following the sale, the chief executive officer now owns 268,585 shares in the company, valued at $4,028,775. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Plc Gsk acquired 2,791,930 shares of the stock in a transaction dated Friday, September 27th. The stock was acquired at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the transaction, the insider now owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 364,822 shares of company stock valued at $4,645,768 over the last quarter. Insiders own 29.10% of the company’s stock.
Wave Life Sciences Trading Down 3.2 %
Shares of WVE opened at $14.32 on Thursday. Wave Life Sciences Ltd. has a 12-month low of $3.50 and a 12-month high of $15.92. The stock has a market cap of $1.75 billion, a P/E ratio of -27.54 and a beta of -1.10. The company has a 50-day moving average of $8.38 and a two-hundred day moving average of $6.66.
Wave Life Sciences (NASDAQ:WVE – Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The company had revenue of $19.69 million during the quarter, compared to analysts’ expectations of $24.80 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. During the same period in the previous year, the company posted ($0.20) EPS. As a group, analysts forecast that Wave Life Sciences Ltd. will post -1.01 EPS for the current fiscal year.
About Wave Life Sciences
Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.
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