50,300 Shares in WAVE Life Sciences Ltd. $WVE Acquired by Strs Ohio

Key Points

• Strs Ohio acquired 50,300 shares of WAVE Life Sciences Ltd. valued at approximately $406,000 during the first quarter, indicating growing institutional interest in the company.
• WAVE Life Sciences stock opened at $6.90 with a one-year price range between $5.28 and $16.74, reflecting significant volatility in its performance.
• Despite missing earnings estimates with a reported EPS of ($0.31), the company has an average analyst rating of "Moderate Buy" with a consensus price target of $20.33.

Strs Ohio purchased a new position in WAVE Life Sciences Ltd. (NASDAQ:WVE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 50,300 shares of the company's stock, valued at approximately $406,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of WVE. Ascent Group LLC bought a new stake in shares of WAVE Life Sciences in the 1st quarter worth $83,000. Goldman Sachs Group Inc. boosted its position in WAVE Life Sciences by 3.8% during the first quarter. Goldman Sachs Group Inc. now owns 557,644 shares of the company's stock worth $4,506,000 after purchasing an additional 20,624 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of WAVE Life Sciences by 9.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,349 shares of the company's stock worth $463,000 after buying an additional 4,957 shares in the last quarter. Allostery Investments LP purchased a new stake in shares of WAVE Life Sciences in the first quarter worth about $141,000. Finally, 683 Capital Management LLC lifted its holdings in shares of WAVE Life Sciences by 3.7% in the first quarter. 683 Capital Management LLC now owns 3,925,000 shares of the company's stock worth $31,714,000 after buying an additional 140,000 shares in the last quarter. Institutional investors own 89.73% of the company's stock.

WAVE Life Sciences Stock Performance

NASDAQ WVE opened at $6.90 on Tuesday. The stock has a 50 day moving average price of $8.41 and a 200-day moving average price of $7.61. WAVE Life Sciences Ltd. has a one year low of $5.28 and a one year high of $16.74. The company has a market capitalization of $1.10 billion, a P/E ratio of -7.67 and a beta of -1.16.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.02). The company had revenue of $8.70 million during the quarter, compared to the consensus estimate of $11.52 million. As a group, equities analysts predict that WAVE Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. B. Riley reissued a "buy" rating on shares of WAVE Life Sciences in a report on Thursday, September 4th. Wells Fargo & Company cut their target price on shares of WAVE Life Sciences from $21.00 to $18.00 and set an "overweight" rating on the stock in a report on Thursday, September 4th. Raymond James Financial initiated coverage on shares of WAVE Life Sciences in a report on Wednesday, June 11th. They issued an "outperform" rating and a $14.00 target price on the stock. Canaccord Genuity Group assumed coverage on shares of WAVE Life Sciences in a report on Monday, August 4th. They issued a "buy" rating and a $19.00 price target on the stock. Finally, HC Wainwright restated a "buy" rating and set a $22.00 target price on shares of WAVE Life Sciences in a report on Wednesday, September 3rd. Fourteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $20.33.

Insiders Place Their Bets

In other news, Director Christian O. Henry sold 9,670 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $8.81, for a total transaction of $85,192.70. Following the transaction, the director owned 29,645 shares of the company's stock, valued at approximately $261,172.45. This represents a 24.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory L. Verdine sold 10,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $10.00, for a total value of $100,000.00. Following the sale, the director directly owned 285,217 shares in the company, valued at approximately $2,852,170. The trade was a 3.39% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 241,893 shares of company stock worth $2,423,068. 23.98% of the stock is currently owned by company 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.

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