M28 Capital Management LP decreased its holdings in Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 8.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,664,548 shares of the company's stock after selling 500,000 shares during the period. Wave Life Sciences comprises 68.8% of M28 Capital Management LP's portfolio, making the stock its largest holding. M28 Capital Management LP owned about 3.71% of Wave Life Sciences worth $70,070,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in WVE. KBC Group NV purchased a new stake in shares of Wave Life Sciences during the 4th quarter worth about $67,000. Summit Investment Advisors Inc. grew its position in Wave Life Sciences by 31.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company's stock worth $119,000 after acquiring an additional 2,308 shares in the last quarter. Orion Portfolio Solutions LLC acquired a new position in shares of Wave Life Sciences during the 3rd quarter worth $123,000. Westwood Wealth Management bought a new position in shares of Wave Life Sciences during the 4th quarter valued at $124,000. Finally, XTX Topco Ltd acquired a new stake in shares of Wave Life Sciences in the 3rd quarter valued at $126,000. 89.73% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Jefferies Financial Group started coverage on Wave Life Sciences in a report on Tuesday, February 25th. They set a "buy" rating and a $26.00 target price on the stock. StockNews.com raised Wave Life Sciences from a "sell" rating to a "hold" rating in a research note on Saturday, March 8th. Wedbush began coverage on Wave Life Sciences in a report on Tuesday, April 8th. They issued an "outperform" rating and a $18.00 target price for the company. Finally, HC Wainwright reaffirmed a "buy" rating and set a $22.00 target price on shares of Wave Life Sciences in a research report on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wave Life Sciences currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.18.
Check Out Our Latest Analysis on Wave Life Sciences
Wave Life Sciences Trading Down 1.4 %
NASDAQ:WVE traded down $0.10 during trading hours on Friday, hitting $6.70. 443,594 shares of the company traded hands, compared to its average volume of 1,206,392. Wave Life Sciences Ltd. has a twelve month low of $4.25 and a twelve month high of $16.74. The firm has a 50-day moving average of $8.57 and a 200 day moving average of $11.50. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -6.02 and a beta of -0.93.
Wave Life Sciences (NASDAQ:WVE - Get Free Report) last released its earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.34. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. The business had revenue of $83.75 million during the quarter, compared to analysts' expectations of $25.60 million. Equities research analysts predict that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.
Insider Transactions at Wave Life Sciences
In other Wave Life Sciences news, CEO Paul Bolno sold 169,025 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $9.57, for a total value of $1,617,569.25. Following the sale, the chief executive officer now owns 338,351 shares of the company's stock, valued at $3,238,019.07. The trade was a 33.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christian O. Henry sold 10,500 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $9.77, for a total transaction of $102,585.00. Following the transaction, the director now directly owns 16,115 shares of the company's stock, valued at $157,443.55. The trade was a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.10% of the stock is owned by insiders.
About Wave Life Sciences
(
Free Report)
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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