Handelsbanken Fonder AB Takes Position in Wave Life Sciences Ltd. (NASDAQ:WVE)

Handelsbanken Fonder AB purchased a new stake in Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 50,800 shares of the company's stock, valued at approximately $628,000.

Several other hedge funds have also made changes to their positions in WVE. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Wave Life Sciences by 23.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company's stock worth $37,000 after purchasing an additional 856 shares during the last quarter. KBC Group NV acquired a new position in shares of Wave Life Sciences during the fourth quarter worth approximately $67,000. Point72 DIFC Ltd bought a new position in Wave Life Sciences in the third quarter valued at about $98,000. Orion Portfolio Solutions LLC bought a new position in Wave Life Sciences in the third quarter valued at approximately $123,000. Finally, XTX Topco Ltd acquired a new position in shares of Wave Life Sciences during the 3rd quarter worth about $126,000. Hedge funds and other institutional investors own 89.73% of the company's stock.

Wave Life Sciences Stock Performance

WVE stock traded down $0.66 during midday trading on Wednesday, reaching $10.57. 1,484,748 shares of the company's stock traded hands, compared to its average volume of 916,694. Wave Life Sciences Ltd. has a 52 week low of $4.25 and a 52 week high of $16.74. The company has a 50-day moving average price of $11.58 and a two-hundred day moving average price of $11.19. The firm has a market capitalization of $1.61 billion, a PE ratio of -9.52 and a beta of -1.09.

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Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of Wave Life Sciences from $17.00 to $36.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Mizuho raised their target price on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock an "outperform" rating in a report on Thursday, November 21st. StockNews.com upgraded shares of Wave Life Sciences from a "sell" rating to a "hold" rating in a research report on Thursday, February 27th. HC Wainwright reaffirmed a "buy" rating and issued a $22.00 target price on shares of Wave Life Sciences in a report on Wednesday. Finally, Jefferies Financial Group initiated coverage on Wave Life Sciences in a research note on Tuesday, February 25th. They issued a "buy" rating and a $26.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $22.60.

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.