Principal Financial Group Inc. lifted its stake in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 23.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 308,044 shares of the company's stock after purchasing an additional 59,399 shares during the quarter. Principal Financial Group Inc. owned about 0.20% of WAVE Life Sciences worth $2,489,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. purchased a new position in shares of WAVE Life Sciences during the 4th quarter worth about $40,000. Quarry LP purchased a new position in shares of WAVE Life Sciences during the 4th quarter worth about $62,000. Summit Investment Advisors Inc. lifted its holdings in shares of 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 during the period. Westwood Wealth Management purchased a new position in shares of WAVE Life Sciences during the 4th quarter worth about $124,000. Finally, Ameriprise Financial Inc. purchased a new position in shares of WAVE Life Sciences during the 4th quarter worth about $129,000. 89.73% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
WVE has been the subject of a number of research analyst reports. Wedbush restated an "outperform" rating and issued a $18.00 price target on shares of WAVE Life Sciences in a research note on Monday, June 23rd. Raymond James Financial began coverage on shares of WAVE Life Sciences in a research report on Wednesday, June 11th. They issued an "outperform" rating and a $14.00 price target on the stock. Wall Street Zen cut WAVE Life Sciences from a "hold" rating to a "sell" rating in a research report on Friday, May 9th. HC Wainwright reaffirmed a "buy" rating and issued a $22.00 target price on shares of WAVE Life Sciences in a research report on Wednesday, March 26th. Finally, Cantor Fitzgerald initiated coverage on WAVE Life Sciences in a research report on Tuesday, April 29th. They issued an "overweight" rating and a $10.00 target price on the stock. One equities research 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's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $20.15.
View Our Latest Stock Report on WVE
WAVE Life Sciences Stock Performance
Shares of WVE stock traded up $0.06 during trading on Tuesday, hitting $7.93. The company had a trading volume of 1,142,629 shares, compared to its average volume of 1,335,896. The firm has a market capitalization of $1.23 billion, a P/E ratio of -9.44 and a beta of -1.01. The stock's 50-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.
WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $11.65 million. During the same period in the prior year, the firm posted ($0.24) EPS. On average, research analysts anticipate that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.
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 completion of the transaction, the director directly owned 282,517 shares in the company, valued at $1,963,493.15. The trade was a 9.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 23.98% of the stock is owned by company insiders.
About WAVE Life Sciences
(
Free Report)
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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