Emerald Advisers LLC Boosts Stake in Wave Life Sciences Ltd. (NASDAQ:WVE)

Emerald Advisers LLC lifted its position in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 15.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,881,510 shares of the company's stock after purchasing an additional 388,280 shares during the period. Emerald Advisers LLC owned about 2.35% of Wave Life Sciences worth $23,628,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capstone Investment Advisors LLC increased its position in 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 acquiring an additional 4,500 shares during the period. GSA Capital Partners LLP acquired a new position in Wave Life Sciences in the 1st quarter valued at about $586,000. Swiss National Bank increased its position in Wave Life Sciences by 2.7% in the 1st quarter. Swiss National Bank now owns 156,500 shares of the company's stock valued at $966,000 after acquiring an additional 4,100 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Wave Life Sciences in the 1st quarter valued at about $405,000. Finally, ProShare Advisors LLC increased its position in Wave Life Sciences by 35.0% in the 1st quarter. ProShare Advisors LLC now owns 21,764 shares of the company's stock valued at $134,000 after acquiring an additional 5,648 shares during the period. Institutional investors and hedge funds own 89.73% of the company's stock.

Wave Life Sciences Stock Performance

WVE stock traded up $0.12 on Friday, reaching $13.83. The company had a trading volume of 642,063 shares, compared to its average volume of 2,171,904. The company's fifty day moving average is $8.87 and its 200 day moving average is $6.85. The company has a market cap of $1.73 billion, a P/E ratio of -24.26 and a beta of -1.20. Wave Life Sciences Ltd. has a 1 year low of $3.50 and a 1 year high of $15.92.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The business had revenue of $19.69 million during the quarter, compared to analyst estimates of $24.80 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. During the same quarter last year, the firm posted ($0.20) earnings per share. On average, sell-side analysts predict that Wave Life Sciences Ltd. will post -1.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Leerink Partners lifted their price objective on Wave Life Sciences from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on Wave Life Sciences from $11.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Raymond James raised Wave Life Sciences from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the company from $13.00 to $22.00 in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price objective on Wave Life Sciences from $13.00 to $17.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Finally, B. Riley lifted their price objective on Wave Life Sciences from $11.00 to $19.00 and gave the company a "buy" rating in a report on Thursday, October 3rd. Two 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 stock. According to MarketBeat.com, Wave Life Sciences currently has a consensus rating of "Moderate Buy" and an average price target of $19.44.

Insider Transactions at Wave Life Sciences

In related news, major shareholder Plc Gsk purchased 2,791,930 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the acquisition, the insider now owns 16,775,691 shares in the company, valued at approximately $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Plc Gsk purchased 2,791,930 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the acquisition, the insider now owns 16,775,691 shares in the company, valued at approximately $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul Bolno sold 90,474 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $15.00, for a total value of $1,357,110.00. Following the completion of the sale, the chief executive officer now owns 268,585 shares of the company's stock, valued at approximately $4,028,775. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 364,822 shares of company stock worth $4,645,768 in the last ninety days. Insiders own 29.10% of the company's stock.

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.