Driehaus Capital Management LLC Purchases 348,300 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

Driehaus Capital Management LLC boosted its holdings in Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 62.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 908,096 shares of the company's stock after purchasing an additional 348,300 shares during the period. Driehaus Capital Management LLC owned about 0.73% of Wave Life Sciences worth $4,531,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in Wave Life Sciences in the 2nd quarter valued at approximately $668,000. Vanguard Group Inc. increased its position in Wave Life Sciences by 39.7% during the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company's stock valued at $11,316,000 after purchasing an additional 521,665 shares during the period. Virtu Financial LLC purchased a new stake in Wave Life Sciences in the fourth quarter worth about $174,000. Capstone Investment Advisors LLC lifted its stake in shares of Wave Life Sciences by 9.0% in the 1st quarter. Capstone Investment Advisors LLC now owns 54,500 shares of the company's stock valued at $336,000 after purchasing an additional 4,500 shares during the period. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in Wave Life Sciences during the second quarter worth about $9,086,000. 89.73% of the stock is owned by hedge funds and other institutional investors.

Wave Life Sciences Stock Up 3.4 %

Shares of NASDAQ:WVE opened at $8.29 on Monday. Wave Life Sciences Ltd. has a 1 year low of $3.50 and a 1 year high of $9.92. The business's 50 day moving average price is $6.03 and its 200-day moving average price is $5.85.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The company had revenue of $19.69 million for the quarter, compared to analyst estimates of $24.80 million. Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. During the same quarter in the prior year, the business earned ($0.20) earnings per share. As a group, equities research analysts anticipate that Wave Life Sciences Ltd. will post -1.04 EPS for the current year.

Insider Activity at Wave Life Sciences

In other news, CFO Kyle Moran sold 17,146 shares of the business's stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total transaction of $154,314.00. Following the completion of the transaction, the chief financial officer now directly owns 19,777 shares in the company, valued at $177,993. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Wave Life Sciences news, CFO Kyle Moran sold 17,146 shares of the company's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total value of $154,314.00. Following the sale, the chief financial officer now directly owns 19,777 shares in the company, valued at $177,993. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paul Bolno sold 48,366 shares of the firm's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total transaction of $279,555.48. Following the completion of the sale, the chief executive officer now owns 359,059 shares of the company's stock, valued at approximately $2,075,361.02. The disclosure for this sale can be found here. Company insiders own 29.10% of the company's stock.

Wall Street Analysts Forecast Growth

WVE has been the topic of several recent analyst reports. B. Riley began coverage on Wave Life Sciences in a research report on Thursday, September 19th. They set a "buy" rating and a $11.00 price objective on the stock. Mizuho reiterated an "outperform" rating and set a $19.00 price objective on shares of Wave Life Sciences in a research report on Tuesday, June 25th. HC Wainwright increased their price target on Wave Life Sciences from $15.00 to $22.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Wave Life Sciences in a report on Friday. They issued an "overweight" rating and a $13.00 target price on the stock. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $13.75.

Wave Life Sciences Company 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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