WAVE Life Sciences Ltd. $WVE Stock Position Raised by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P increased its position in WAVE Life Sciences by 246.7%, owning 35,712 shares valued at approximately $289,000 after acquiring additional shares in the first quarter.
• WAVE Life Sciences reported negative earnings per share of ($0.31) for the last quarter, missing analysts' expectations, with revenue at $8.70 million against estimates of $11.52 million.
• WAVE Life Sciences has received multiple positive ratings from analysts, with a consensus rating of "Moderate Buy" and an average target price of $20.27 per share.

Martingale Asset Management L P lifted its position in WAVE Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 246.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,712 shares of the company's stock after acquiring an additional 25,412 shares during the quarter. Martingale Asset Management L P's holdings in WAVE Life Sciences were worth $289,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of WAVE Life Sciences by 9.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,673 shares of the company's stock valued at $151,000 after acquiring an additional 1,564 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of WAVE Life Sciences by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 247,251 shares of the company's stock valued at $1,998,000 after acquiring an additional 2,278 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of WAVE Life Sciences in the 4th quarter valued at approximately $40,000. Invesco Ltd. lifted its position in shares of WAVE Life Sciences by 12.2% in the 4th quarter. Invesco Ltd. now owns 40,010 shares of the company's stock valued at $495,000 after acquiring an additional 4,351 shares in the last quarter. Finally, Quarry LP purchased a new stake in WAVE Life Sciences in the 4th quarter worth approximately $62,000. Hedge funds and other institutional investors own 89.73% of the company's stock.

Insider Activity

In other news, 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 transaction of $42,630.00. Following the transaction, the director owned 5,716,303 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Christian O. Henry sold 9,670 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $8.81, for a total transaction of $85,192.70. Following the transaction, the director owned 29,645 shares in the company, valued at $261,172.45. This represents a 24.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,542 shares of company stock worth $336,323. 23.98% of the stock is owned by corporate insiders.

WAVE Life Sciences Trading Down 2.1%

WAVE Life Sciences stock opened at $9.94 on Tuesday. The company has a market capitalization of $1.58 billion, a P/E ratio of -11.04 and a beta of -0.95. The firm's fifty day simple moving average is $7.99 and its 200-day simple moving average is $7.97. 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 Wednesday, July 30th. The company reported ($0.31) earnings per share for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.02). The firm had revenue of $8.70 million for the quarter, compared to analyst estimates of $11.52 million. On average, equities research analysts predict that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on WVE. Wedbush reiterated an "outperform" rating and issued a $18.00 target price on shares of WAVE Life Sciences in a research report on Monday, June 23rd. Oppenheimer began coverage on shares of WAVE Life Sciences in a research report on Monday, July 28th. They issued an "outperform" rating and a $24.00 target price for the company. 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 target price for the company. Canaccord Genuity Group began coverage on shares of WAVE Life Sciences in a research report on Monday, August 4th. They issued a "buy" rating and a $19.00 target price for the company. Finally, Cantor Fitzgerald began coverage on shares of WAVE Life Sciences in a research report on Tuesday, April 29th. They issued an "overweight" rating and a $10.00 target price for the company. Fourteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.

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