Affinity Asset Advisors LLC Boosts Holdings in WAVE Life Sciences Ltd. $WVE

Key Points

• Affinity Asset Advisors LLC increased its holdings in WAVE Life Sciences by 21.7%, acquiring an additional 325,000 shares, which now represent 1.4% of its portfolio.
• WAVE Life Sciences experienced significant trading activity with institutional investors, with approximately 89.73% of its stock currently held by these entities.
• Analysts maintain a consensus rating of "Moderate Buy" for WAVE Life Sciences, with an average target price of $20.27, following multiple upgrades and coverage initiations from firms like Raymond James and Oppenheimer.

Affinity Asset Advisors LLC grew its stake in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 21.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,825,000 shares of the company's stock after buying an additional 325,000 shares during the quarter. WAVE Life Sciences accounts for 1.4% of Affinity Asset Advisors LLC's investment portfolio, making the stock its 15th biggest position. Affinity Asset Advisors LLC owned 1.18% of WAVE Life Sciences worth $14,746,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Squarepoint Ops LLC purchased a new stake in shares of WAVE Life Sciences during the 4th quarter valued at $256,000. Principal Financial Group Inc. grew its holdings in shares of WAVE Life Sciences by 23.9% during the 1st quarter. Principal Financial Group Inc. now owns 308,044 shares of the company's stock valued at $2,489,000 after purchasing an additional 59,399 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of WAVE Life Sciences by 23.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,392 shares of the company's stock valued at $648,000 after purchasing an additional 9,907 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of WAVE Life Sciences by 58.5% during the 4th quarter. Bank of America Corp DE now owns 435,896 shares of the company's stock valued at $5,392,000 after purchasing an additional 160,820 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of WAVE Life Sciences by 14.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,238 shares of the company's stock valued at $2,044,000 after purchasing an additional 20,520 shares during the last quarter. Hedge funds and other institutional investors own 89.73% of the company's stock.

Insider Activity at WAVE Life Sciences

In other news, Director Ken Takanashi sold 4,872 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $8.75, for a total value of $42,630.00. Following the completion of the sale, the director directly owned 5,716,303 shares of the company's stock, valued at approximately $50,017,651.25. This trade represents a 0.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christian O. Henry sold 9,670 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $8.81, for a total transaction of $85,192.70. Following the completion of the sale, the director directly owned 29,645 shares of the company's stock, valued at approximately $261,172.45. This represents a 24.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 271,893 shares of company stock valued at $2,631,568. 23.98% of the stock is currently owned by company insiders.

WAVE Life Sciences Price Performance

WAVE Life Sciences stock traded down $0.15 during trading hours on Thursday, reaching $9.93. The stock had a trading volume of 1,493,395 shares, compared to its average volume of 1,666,736. The stock has a market cap of $1.58 billion, a PE ratio of -11.03 and a beta of -0.95. WAVE Life Sciences Ltd. has a 52 week low of $5.04 and a 52 week high of $16.74. The company has a fifty day simple moving average of $8.18 and a 200-day simple moving average of $8.00.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.02). The business had revenue of $8.70 million for the quarter, compared to analyst estimates of $11.52 million. Research analysts predict that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on WVE shares. Citigroup started coverage on shares of WAVE Life Sciences in a report on Wednesday, July 16th. They set a "buy" rating and a $16.00 target price on the stock. Canaccord Genuity Group started coverage on shares of WAVE Life Sciences in a report on Monday, August 4th. They set a "buy" rating and a $19.00 target price on the stock. Raymond James Financial started coverage on shares of WAVE Life Sciences in a report on Wednesday, June 11th. They set an "outperform" rating and a $14.00 target price on the stock. Wedbush reaffirmed an "outperform" rating and set a $18.00 target price on shares of WAVE Life Sciences in a report on Monday, June 23rd. Finally, Wall Street Zen lowered shares of WAVE Life Sciences from a "hold" rating to a "sell" rating in a report on Friday, May 9th. Fourteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, WAVE Life Sciences presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.27.

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.