Algert Global LLC Makes New Investment in Wave Life Sciences Ltd. (NASDAQ:WVE)

Algert Global LLC acquired a new position in Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 42,564 shares of the company's stock, valued at approximately $527,000.

Several other hedge funds also recently made changes to their positions in the business. Victory Capital Management Inc. increased its position in shares of Wave Life Sciences by 16.6% in the fourth quarter. Victory Capital Management Inc. now owns 14,546 shares of the company's stock worth $180,000 after acquiring an additional 2,073 shares in the last quarter. Summit Investment Advisors Inc. increased its position in shares of Wave Life Sciences by 31.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company's stock worth $119,000 after acquiring an additional 2,308 shares in the last quarter. Kraematon Investment Advisors Inc. grew its position in Wave Life Sciences by 24.3% during the fourth quarter. Kraematon Investment Advisors Inc. now owns 19,885 shares of the company's stock valued at $246,000 after purchasing an additional 3,885 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in Wave Life Sciences by 36.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 15,579 shares of the company's stock valued at $193,000 after buying an additional 4,120 shares during the period. Finally, Invesco Ltd. lifted its position in Wave Life Sciences by 12.2% in the 4th quarter. Invesco Ltd. now owns 40,010 shares of the company's stock worth $495,000 after buying an additional 4,351 shares in the last quarter. Institutional investors and hedge funds own 89.73% of the company's stock.

Insider Activity

In related news, CEO Paul Bolno sold 169,025 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the completion of the sale, the chief executive officer now directly owns 338,351 shares of the company's stock, valued at approximately $3,238,019.07. This represents a 33.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christian O. Henry sold 10,500 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $9.77, for a total value of $102,585.00. Following the sale, the director now directly owns 16,115 shares of the company's stock, valued at approximately $157,443.55. The trade was a 39.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.10% of the stock is currently owned by company insiders.

Wave Life Sciences Trading Down 0.3%

Shares of WVE stock traded down $0.02 on Friday, reaching $6.28. The company had a trading volume of 317,181 shares, compared to its average volume of 1,277,543. The stock has a market cap of $967.84 million, a PE ratio of -5.66 and a beta of -0.92. The company has a 50-day moving average of $7.50 and a 200-day moving average of $10.95. Wave Life Sciences Ltd. has a 12 month low of $4.25 and a 12 month high of $16.74.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.02). The company had revenue of $9.18 million during the quarter, compared to the consensus estimate of $11.65 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. During the same period last year, the company earned ($0.24) earnings per share. Sell-side analysts anticipate that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on WVE. StockNews.com cut shares of Wave Life Sciences from a "hold" rating to a "sell" rating in a report on Friday, May 9th. Wedbush initiated coverage on shares of Wave Life Sciences in a research note on Tuesday, April 8th. They issued an "outperform" rating and a $18.00 target price for the company. Cantor Fitzgerald initiated coverage on shares of Wave Life Sciences in a research note on Tuesday, April 29th. They issued an "overweight" rating and a $10.00 price objective for the company. Jefferies Financial Group initiated coverage on shares of Wave Life Sciences in a research note on Tuesday, February 25th. They issued a "buy" rating and a $26.00 price objective for the company. Finally, HC Wainwright restated a "buy" rating and issued a $22.00 price objective on shares of Wave Life Sciences in a research note on Wednesday, March 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $21.17.

Wave Life Sciences Company Profile

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.