WAVE Life Sciences Ltd. $WVE Shares Purchased by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its WAVE Life Sciences stake by 152.6% in the first quarter, adding 360,800 shares to own 597,220 shares valued at approximately $4.33 million. Institutional investors and hedge funds collectively own 89.73% of the company.
• WAVE shares opened at $6.02, near the lower end of their 12-month range of $5.02 to $21.73. The company reported a quarterly loss of $0.34 per share, below estimates, while revenue of $2.27 million also fell short of expectations.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $22.53, despite recent target-price reductions from UBS, Wedbush and Citigroup.

Renaissance Technologies LLC grew its stake in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 152.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 597,220 shares of the company's stock after buying an additional 360,800 shares during the period. Renaissance Technologies LLC owned 0.31% of WAVE Life Sciences worth $4,330,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in WVE. GSK plc acquired a new stake in shares of WAVE Life Sciences during the fourth quarter valued at $310,177,000. Adage Capital Partners GP L.L.C. increased its position in WAVE Life Sciences by 20.0% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 15,016,500 shares of the company's stock worth $97,607,000 after purchasing an additional 2,500,000 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in WAVE Life Sciences by 83.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,407,372 shares of the company's stock valued at $125,927,000 after purchasing an additional 3,362,880 shares during the last quarter. Darwin Global Management Ltd. acquired a new position in WAVE Life Sciences in the 4th quarter valued at about $125,168,000. Finally, Federated Hermes Inc. lifted its holdings in WAVE Life Sciences by 26.5% in the 4th quarter. Federated Hermes Inc. now owns 4,744,520 shares of the company's stock valued at $80,657,000 after purchasing an additional 993,827 shares in the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.

WAVE Life Sciences Trading Up 1.5%

Shares of NASDAQ:WVE opened at $6.02 on Friday. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -5.52 and a beta of -1.26. The stock's 50-day moving average price is $5.94 and its two-hundred day moving average price is $8.71. WAVE Life Sciences Ltd. has a 12-month low of $5.02 and a 12-month high of $21.73.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.34) EPS for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.04). The company had revenue of $2.27 million for the quarter, compared to analyst estimates of $7.45 million. WAVE Life Sciences had a negative net margin of 309.73% and a negative return on equity of 50.36%. As a group, research analysts forecast that WAVE Life Sciences Ltd. will post -1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on WVE shares. UBS Group set a $13.00 price target on shares of WAVE Life Sciences in a research note on Monday. Wedbush reduced their price objective on shares of WAVE Life Sciences from $15.00 to $12.00 and set an "outperform" rating on the stock in a research note on Friday, July 31st. Zacks Research upgraded shares of WAVE Life Sciences from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 21st. Citigroup lowered their target price on shares of WAVE Life Sciences from $24.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, July 31st. Finally, HC Wainwright reiterated a "buy" rating on shares of WAVE Life Sciences in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.53.

About WAVE Life Sciences

WAVE Life Sciences is a clinical-stage genetic medicines company focused on the discovery and development of stereopure oligonucleotide therapies designed to address serious diseases with high unmet medical need. Leveraging proprietary chemistry and precision synthesis, WAVE engineers drug candidates with defined stereochemistry to optimize potency, safety and manufacturability. This approach aims to enhance target specificity and improve therapeutic profiles compared with traditional oligonucleotide medicines.

The company's pipeline includes programs in neuromuscular disorders such as Duchenne muscular dystrophy and neurodegenerative conditions including Huntington's disease, as well as early-stage cardiovascular and liver indications.

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