Hussman Strategic Advisors Inc. Grows Stock Position in WAVE Life Sciences Ltd. (NASDAQ:WVE)

Hussman Strategic Advisors Inc. raised its stake in WAVE Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 150.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 105,000 shares of the company's stock after purchasing an additional 63,000 shares during the quarter. Hussman Strategic Advisors Inc. owned about 0.07% of WAVE Life Sciences worth $848,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in WVE. GF Fund Management CO. LTD. purchased a new position in shares of WAVE Life Sciences in the 4th quarter valued at $40,000. Quarry LP purchased a new stake in WAVE Life Sciences during the 4th quarter worth $62,000. Summit Investment Advisors Inc. grew its holdings in 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 acquiring an additional 2,308 shares in the last quarter. Westwood Wealth Management acquired a new position in WAVE Life Sciences during the 4th quarter worth $124,000. Finally, Ameriprise Financial Inc. acquired a new position in WAVE Life Sciences during the 4th quarter worth $129,000. Institutional investors and hedge funds own 89.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on WVE shares. Raymond James Financial began coverage on shares of WAVE Life Sciences in a research note on Wednesday, June 11th. They set an "outperform" rating and a $14.00 target price for the company. Wall Street Zen lowered shares of WAVE Life Sciences from a "hold" rating to a "sell" rating in a report on Friday, May 9th. Citigroup began coverage on shares of WAVE Life Sciences in a research report on Wednesday. They set a "buy" rating and a $16.00 price objective on the stock. Cantor Fitzgerald assumed coverage on shares of WAVE Life Sciences in a research note on Tuesday, April 29th. They issued an "overweight" rating and a $10.00 price objective for the company. Finally, Wedbush reiterated an "outperform" rating and set a $18.00 target price on shares of WAVE Life Sciences in a research note on Monday, June 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $20.15.

WAVE Life Sciences Trading Up 4.1%

Shares of WVE traded up $0.33 during trading hours on Friday, reaching $8.34. 2,461,353 shares of the company's stock traded hands, compared to its average volume of 1,333,813. The stock has a market cap of $1.30 billion, a PE ratio of -9.93 and a beta of -1.01. The firm's 50 day simple moving average is $6.83 and its 200-day simple moving average is $8.57. WAVE Life Sciences Ltd. has a 12 month low of $5.04 and a 12 month high of $16.74.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.02). The business had revenue of $9.18 million during the quarter, compared to analyst estimates of $11.65 million. During the same quarter in the prior year, the business earned ($0.24) earnings per share. As a group, analysts expect that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Gregory L. Verdine sold 30,000 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $6.95, for a total transaction of $208,500.00. Following the completion of the sale, the director owned 282,517 shares in the company, valued at approximately $1,963,493.15. This trade represents a 9.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 23.98% of the stock is currently owned by insiders.

About WAVE Life Sciences

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.