Moody Aldrich Partners LLC Raises Stock Holdings in WAVE Life Sciences Ltd. (NASDAQ:WVE)

Moody Aldrich Partners LLC grew its holdings in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 10.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 439,827 shares of the company's stock after purchasing an additional 41,352 shares during the quarter. Moody Aldrich Partners LLC owned about 0.29% of WAVE Life Sciences worth $3,554,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WVE. GF Fund Management CO. LTD. purchased a new stake in shares of WAVE Life Sciences in the fourth quarter worth about $40,000. Quarry LP purchased a new stake in shares of WAVE Life Sciences in the fourth quarter worth about $62,000. Summit Investment Advisors Inc. lifted its holdings in shares of 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 buying an additional 2,308 shares in the last quarter. Westwood Wealth Management purchased a new stake in shares of WAVE Life Sciences in the fourth quarter worth about $124,000. Finally, Ameriprise Financial Inc. purchased a new stake in shares of WAVE Life Sciences in the fourth quarter worth about $129,000. Institutional investors own 89.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of WAVE Life Sciences from a "hold" rating to a "sell" rating in a research note on Friday, May 9th. 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 target price on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $22.00 target price on shares of WAVE Life Sciences in a research note on Wednesday, March 26th. Wedbush reaffirmed an "outperform" rating and issued a $18.00 target price on shares of WAVE Life Sciences in a research note on Monday, June 23rd. Finally, Raymond James Financial assumed coverage on shares of WAVE Life Sciences in a research note on Wednesday, June 11th. They issued an "outperform" rating and a $14.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, WAVE Life Sciences presently has an average rating of "Moderate Buy" and an average price target of $20.50.

Insider Activity at WAVE Life Sciences

In other news, Director Gregory L. Verdine sold 30,000 shares of the business'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 owned 282,517 shares in the company, valued at approximately $1,963,493.15. The trade was a 9.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 23.98% of the company's stock.

WAVE Life Sciences Stock Performance

Shares of NASDAQ WVE traded up $0.22 during mid-day trading on Friday, hitting $6.97. The stock had a trading volume of 652,460 shares, compared to its average volume of 1,283,451. The firm has a market cap of $1.08 billion, a P/E ratio of -8.30 and a beta of -1.01. The business has a 50 day moving average price of $6.72 and a two-hundred day moving average price of $8.94. WAVE Life Sciences Ltd. has a 1 year low of $5.04 and a 1 year high of $16.74.

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

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.