WAVE Life Sciences Ltd. $WVE Shares Purchased by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in WAVE Life Sciences by 5.3%, owning approximately 0.63% of the company worth $7,782,000.
• Several institutional investors have significantly boosted their holdings, with Price T Rowe Associates increasing its position by 63.1% during the fourth quarter.
• WAVE Life Sciences reported a quarterly earnings per share (EPS) of ($0.31), missing analysts' expectations, and had a revenue of $8.70 million against forecasts of $11.52 million.

Charles Schwab Investment Management Inc. lifted its stake in WAVE Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 963,125 shares of the company's stock after purchasing an additional 48,656 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.63% of WAVE Life Sciences worth $7,782,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WVE. Price T Rowe Associates Inc. MD increased its holdings in shares of WAVE Life Sciences by 63.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,098,866 shares of the company's stock valued at $63,074,000 after purchasing an additional 1,972,262 shares during the last quarter. Polar Capital Holdings Plc acquired a new stake in WAVE Life Sciences during the fourth quarter worth $12,370,000. MPM Bioimpact LLC increased its stake in WAVE Life Sciences by 138.5% during the fourth quarter. MPM Bioimpact LLC now owns 1,489,237 shares of the company's stock worth $18,422,000 after acquiring an additional 864,766 shares during the last quarter. Driehaus Capital Management LLC increased its stake in WAVE Life Sciences by 14.6% during the fourth quarter. Driehaus Capital Management LLC now owns 6,712,449 shares of the company's stock worth $83,033,000 after acquiring an additional 853,589 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new stake in WAVE Life Sciences during the fourth quarter worth $10,463,000. Institutional investors and hedge funds own 89.73% of the company's stock.

Insider Buying and Selling

In other WAVE Life Sciences news, Director Christian O. Henry sold 9,670 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $8.81, for a total value of $85,192.70. Following the sale, the director directly owned 29,645 shares in the company, valued at $261,172.45. This trade represents a 24.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ken Takanashi sold 4,872 shares of the firm's stock in a transaction on 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 owned 5,716,303 shares in the company, valued at approximately $50,017,651.25. This represents a 0.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have 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 Trading Up 0.3%

NASDAQ:WVE opened at $9.97 on Wednesday. The firm has a market cap of $1.59 billion, a PE ratio of -11.08 and a beta of -0.95. The stock has a fifty day moving average price of $8.06 and a 200 day moving average price of $7.99. 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 released its 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 company had revenue of $8.70 million during the quarter, compared to analysts' expectations of $11.52 million. Equities analysts forecast that WAVE Life Sciences Ltd. will post -1.14 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on WVE shares. Cantor Fitzgerald started coverage on WAVE Life Sciences in a research note on Tuesday, April 29th. They set an "overweight" rating and a $10.00 target price for the company. Wells Fargo & Company cut their target price on WAVE Life Sciences from $24.00 to $21.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Citigroup started coverage on WAVE Life Sciences in a research note on Wednesday, July 16th. They set a "buy" rating and a $16.00 target price for the company. Wall Street Zen cut WAVE Life Sciences from a "hold" rating to a "sell" rating in a research note on Friday, May 9th. Finally, Wedbush restated an "outperform" rating and set a $18.00 price target on shares of WAVE Life Sciences in a research report on Monday, June 23rd. Fourteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $20.27.

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.

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