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

Hussman Strategic Advisors Inc. raised its position in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 150.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,000 shares of the company's stock after buying 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.

Several other hedge funds also recently made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new stake in WAVE Life Sciences in the 4th quarter valued at approximately $40,000. Quarry LP acquired a new stake in shares of WAVE Life Sciences in the 4th quarter worth approximately $62,000. Summit Investment Advisors Inc. lifted its position in WAVE Life Sciences by 31.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company's stock worth $119,000 after purchasing an additional 2,308 shares during the period. Westwood Wealth Management bought a new position in WAVE Life Sciences during the fourth quarter valued at about $124,000. Finally, Ameriprise Financial Inc. bought a new stake in WAVE Life Sciences in the fourth quarter worth about $129,000. Institutional investors and hedge funds own 89.73% of the company's stock.

WAVE Life Sciences Stock Up 0.8%

Shares of NASDAQ WVE traded up $0.06 during midday trading on Tuesday, reaching $7.93. The company had a trading volume of 1,142,629 shares, compared to its average volume of 1,335,896. The firm's fifty day moving average price is $6.85 and its 200-day moving average price is $8.50. WAVE Life Sciences Ltd. has a one year low of $5.04 and a one year high of $16.74. The stock has a market cap of $1.23 billion, a PE ratio of -9.44 and a beta of -1.01.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on WVE. Raymond James Financial started coverage on WAVE Life Sciences in a research note on Wednesday, June 11th. They set an "outperform" rating and a $14.00 price target for the company. HC Wainwright reissued a "buy" rating and set a $22.00 price objective on shares of WAVE Life Sciences in a report on Wednesday, March 26th. Wedbush restated an "outperform" rating and issued a $18.00 target price on shares of WAVE Life Sciences in a research note on Monday, June 23rd. Citigroup initiated coverage on shares of WAVE Life Sciences in a research note on Wednesday, July 16th. They issued a "buy" rating and a $16.00 target price on the stock. Finally, Wall Street Zen cut shares of WAVE Life Sciences from a "hold" rating to a "sell" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, WAVE Life Sciences has an average rating of "Moderate Buy" and an average price target of $20.15.

Insider Buying and Selling at WAVE Life Sciences

In other news, Director Gregory L. Verdine sold 30,000 shares of the firm's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $6.95, for a total transaction of $208,500.00. Following the sale, the director directly owned 282,517 shares in the company, valued at $1,963,493.15. This trade represents a 9.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 23.98% of the stock is owned by company insiders.

WAVE Life Sciences 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.