Federated Hermes Inc. purchased a new position in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 68,020 shares of the company's stock, valued at approximately $841,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of WVE. KBC Group NV bought a new stake in Wave Life Sciences in the fourth quarter valued at $67,000. Orion Portfolio Solutions LLC acquired a new stake in shares of Wave Life Sciences during the 3rd quarter worth about $123,000. XTX Topco Ltd bought a new position in Wave Life Sciences during the 3rd quarter valued at about $126,000. Raymond James Financial Inc. acquired a new position in Wave Life Sciences in the fourth quarter valued at about $157,000. Finally, Victory Capital Management Inc. grew its stake in Wave Life Sciences by 16.6% during the fourth quarter. Victory Capital Management Inc. now owns 14,546 shares of the company's stock worth $180,000 after buying an additional 2,073 shares during the last quarter. Institutional investors own 89.73% of the company's stock.
Analysts Set New Price Targets
WVE has been the topic of a number of research analyst reports. Jefferies Financial Group started coverage on Wave Life Sciences in a research report on Tuesday, February 25th. They set a "buy" rating and a $26.00 price target on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $22.00 price target on shares of Wave Life Sciences in a report on Wednesday, March 26th. StockNews.com raised shares of Wave Life Sciences from a "sell" rating to a "hold" rating in a report on Saturday, March 8th. Finally, 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. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $22.18.
Check Out Our Latest Research Report on Wave Life Sciences
Wave Life Sciences Stock Performance
WVE traded up $0.20 during midday trading on Monday, reaching $6.12. 1,721,816 shares of the company were exchanged, compared to its average volume of 1,196,142. The stock has a market capitalization of $939.33 million, a P/E ratio of -5.51 and a beta of -0.93. The stock's 50-day simple moving average is $8.82 and its 200 day simple moving average is $11.58. Wave Life Sciences Ltd. has a one year low of $4.25 and a one year high of $16.74.
Wave Life Sciences (NASDAQ:WVE - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.34. The business had revenue of $83.75 million for the quarter, compared to analyst estimates of $25.60 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. On average, research analysts anticipate that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current year.
Insider Buying and Selling
In related news, 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 transaction of $102,585.00. Following the completion of the sale, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the chief executive officer now directly owns 338,351 shares in the company, valued at approximately $3,238,019.07. The trade was a 33.31 % decrease in their position. The disclosure for this sale can be found here. 29.10% of the stock is currently owned by company insiders.
About Wave Life Sciences
(
Free Report)
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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