Affinity Asset Advisors LLC Decreases Stake in WAVE Life Sciences Ltd. $WVE

Key Points

• Affinity Asset Advisors cut its stake in WAVE Life Sciences by 48.1% in Q1, selling about 1.3 million shares and ending with 1.4 million shares valued at roughly $10.2 million.
• Wall Street sentiment is mostly bullish, with 14 Buy ratings, one Strong Buy, and one Sell; the consensus target price is $26.41, though some analysts recently lowered their targets.
• WAVE Life Sciences reported stronger-than-expected Q1 results, posting a smaller-than-expected loss and revenue of $38.25 million versus the $8.45 million consensus estimate.

Affinity Asset Advisors LLC decreased its holdings in WAVE Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 48.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,401,727 shares of the company's stock after selling 1,298,273 shares during the quarter. Affinity Asset Advisors LLC owned 0.73% of WAVE Life Sciences worth $10,163,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC grew its stake in shares of WAVE Life Sciences by 6,729.0% in the fourth quarter. CWM LLC now owns 2,117 shares of the company's stock worth $36,000 after acquiring an additional 2,086 shares during the period. Smartleaf Asset Management LLC boosted its holdings in WAVE Life Sciences by 645.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,243 shares of the company's stock worth $38,000 after purchasing an additional 1,942 shares during the last quarter. Russell Investments Group Ltd. grew its position in WAVE Life Sciences by 1,441.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company's stock worth $73,000 after purchasing an additional 9,284 shares during the period. Tower Research Capital LLC TRC raised its stake in WAVE Life Sciences by 44.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company's stock valued at $76,000 after buying an additional 3,609 shares during the last quarter. Finally, Prudential Financial Inc. bought a new position in shares of WAVE Life Sciences during the 2nd quarter valued at $80,000. Institutional investors own 89.73% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Bank of America cut their price objective on WAVE Life Sciences from $38.00 to $21.00 and set a "buy" rating for the company in a report on Friday, March 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of WAVE Life Sciences in a report on Friday, July 17th. New Street Research set a $13.00 target price on WAVE Life Sciences in a research report on Thursday, June 11th. Citigroup cut their price target on WAVE Life Sciences from $30.00 to $24.00 and set a "buy" rating for the company in a research note on Monday, May 4th. Finally, HC Wainwright reaffirmed a "buy" rating on shares of WAVE Life Sciences in a research report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, WAVE Life Sciences has an average rating of "Moderate Buy" and a consensus target price of $26.41.

WAVE Life Sciences Price Performance

NASDAQ:WVE opened at $5.81 on Friday. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -5.48 and a beta of -1.29. The business has a 50 day simple moving average of $6.03 and a 200-day simple moving average of $9.30. WAVE Life Sciences Ltd. has a 1 year low of $5.02 and a 1 year high of $21.73.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.21. The firm had revenue of $38.25 million for the quarter, compared to the consensus estimate of $8.45 million. WAVE Life Sciences had a negative return on equity of 56.76% and a negative net margin of 255.70%. As a group, analysts expect that WAVE Life Sciences Ltd. will post -1.1 earnings per share for the current fiscal year.

WAVE Life Sciences Profile

WAVE Life Sciences is a clinical-stage genetic medicines company focused on the discovery and development of stereopure oligonucleotide therapies designed to address serious diseases with high unmet medical need. Leveraging proprietary chemistry and precision synthesis, WAVE engineers drug candidates with defined stereochemistry to optimize potency, safety and manufacturability. This approach aims to enhance target specificity and improve therapeutic profiles compared with traditional oligonucleotide medicines.

The company's pipeline includes programs in neuromuscular disorders such as Duchenne muscular dystrophy and neurodegenerative conditions including Huntington's disease, as well as early-stage cardiovascular and liver indications.

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