Wealthedge Investment Advisors LLC bought a new position in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 29,572 shares of the company's stock, valued at approximately $239,000.
Several other institutional investors also recently bought and sold shares of the stock. Alliancebernstein L.P. boosted its stake in shares of WAVE Life Sciences by 56.0% during the 4th quarter. Alliancebernstein L.P. now owns 90,590 shares of the company's stock worth $1,121,000 after acquiring an additional 32,520 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in WAVE Life Sciences by 84.8% in the 4th quarter. Wells Fargo & Company MN now owns 49,856 shares of the company's stock worth $617,000 after purchasing an additional 22,873 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in WAVE Life Sciences by 64.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 32,331 shares of the company's stock worth $400,000 after purchasing an additional 12,724 shares during the period. Russell Investments Group Ltd. grew its holdings in WAVE Life Sciences by 3,471.8% during the fourth quarter. Russell Investments Group Ltd. now owns 44,648 shares of the company's stock valued at $552,000 after purchasing an additional 43,398 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of WAVE Life Sciences by 12.2% in the fourth quarter. Invesco Ltd. now owns 40,010 shares of the company's stock valued at $495,000 after purchasing an additional 4,351 shares during the period. 89.73% of the stock is currently owned by institutional investors.
WAVE Life Sciences Stock Up 9.5%
NASDAQ:WVE opened at $9.76 on Friday. The firm has a market cap of $1.55 billion, a PE ratio of -10.84 and a beta of -0.95. WAVE Life Sciences Ltd. has a 12 month low of $5.04 and a 12 month high of $16.74. The company's 50-day moving average price is $7.67 and its two-hundred day moving average price is $8.11.
WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.02). The firm had revenue of $8.70 million during the quarter, compared to analyst estimates of $11.52 million. On average, research analysts expect that WAVE Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.
Analyst Ratings Changes
WVE has been the subject of a number of analyst reports. Wedbush restated an "outperform" rating and issued a $18.00 price objective on shares of WAVE Life Sciences in a research note on Monday, June 23rd. Oppenheimer assumed coverage on shares of WAVE Life Sciences in a research report on Monday, July 28th. They set an "outperform" rating and a $24.00 target price for the company. Citigroup began coverage on WAVE Life Sciences in a research report on Wednesday, July 16th. They issued a "buy" rating and a $16.00 price target on the stock. Wall Street Zen cut WAVE Life Sciences from a "hold" rating to a "sell" rating in a research report on Friday, May 9th. Finally, Wells Fargo & Company decreased their target price on WAVE Life Sciences from $24.00 to $21.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $20.27.
Check Out Our Latest Report on WAVE Life Sciences
Insiders Place Their Bets
In other news, Director Christian O. Henry sold 9,670 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $8.81, for a total value of $85,192.70. Following the completion of the sale, the director directly owned 29,645 shares in the company, valued at approximately $261,172.45. This trade represents a 24.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ken Takanashi sold 4,872 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $8.75, for a total transaction of $42,630.00. Following the sale, the director directly owned 5,716,303 shares in the company, valued at approximately $50,017,651.25. This represents a 0.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,542 shares of company stock valued at $336,323. 23.98% of the stock is currently owned by corporate insiders.
WAVE Life Sciences Profile
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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.
Further Reading
Want to see what other hedge funds are holding WVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WAVE Life Sciences Ltd. (NASDAQ:WVE - Free Report).
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