Emerald Mutual Fund Advisers Trust Has $23.89 Million Holdings in Wave Life Sciences Ltd. (NASDAQ:WVE)

Emerald Mutual Fund Advisers Trust lessened its holdings in Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 9.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,931,034 shares of the company's stock after selling 192,432 shares during the period. Wave Life Sciences comprises about 1.5% of Emerald Mutual Fund Advisers Trust's portfolio, making the stock its 14th largest holding. Emerald Mutual Fund Advisers Trust owned 1.27% of Wave Life Sciences worth $23,887,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP acquired a new stake in shares of Wave Life Sciences during the 4th quarter worth about $62,000. KBC Group NV acquired a new stake in shares of Wave Life Sciences during the 4th quarter worth about $67,000. Summit Investment Advisors Inc. increased its position in shares of Wave Life Sciences by 31.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company's stock worth $119,000 after purchasing an additional 2,308 shares during the last quarter. Westwood Wealth Management acquired a new stake in shares of Wave Life Sciences during the 4th quarter worth about $124,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Wave Life Sciences during the 4th quarter worth about $157,000. Hedge funds and other institutional investors own 89.73% of the company's stock.

Wave Life Sciences Stock Performance

Shares of NASDAQ:WVE traded up $0.22 during midday trading on Thursday, reaching $7.94. The company had a trading volume of 2,101,868 shares, compared to its average volume of 1,229,721. Wave Life Sciences Ltd. has a 1-year low of $4.25 and a 1-year high of $16.74. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -7.15 and a beta of -0.93. The company has a fifty day simple moving average of $8.26 and a two-hundred day simple moving average of $11.47.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.34. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. The company had revenue of $83.75 million during the quarter, compared to the consensus estimate of $25.60 million. Analysts expect that Wave Life Sciences Ltd. will post -1.14 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on WVE shares. Jefferies Financial Group started coverage on Wave Life Sciences in a report on Tuesday, February 25th. They set a "buy" rating and a $26.00 target price for the company. Cantor Fitzgerald started coverage on Wave Life Sciences in a report on Tuesday. They set an "overweight" rating and a $10.00 target price for the company. StockNews.com upgraded Wave Life Sciences from a "sell" rating to a "hold" rating in a report on Saturday, March 8th. HC Wainwright reiterated a "buy" rating and issued a $22.00 price objective on shares of Wave Life Sciences in a research note on Wednesday, March 26th. Finally, Wedbush started coverage on Wave Life Sciences in a research note on Tuesday, April 8th. They issued an "outperform" rating and a $18.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $21.17.

Insider Transactions at Wave Life Sciences

In other news, CEO Paul Bolno sold 169,025 shares of Wave Life Sciences stock in a transaction that occurred on Friday, March 7th. The shares were 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 owns 338,351 shares in the company, valued at $3,238,019.07. The trade was a 33.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christian O. Henry sold 10,500 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $9.77, for a total transaction of $102,585.00. Following the transaction, the director now owns 16,115 shares of the company's stock, valued at approximately $157,443.55. This represents a 39.45 % decrease in their position. The disclosure for this sale can be found here. 29.10% of the stock is owned by insiders.

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.