Affinity Asset Advisors LLC Boosts Stake in Wave Life Sciences Ltd. (NASDAQ:WVE)

Affinity Asset Advisors LLC boosted its stake in Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 7.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,500,000 shares of the company's stock after buying an additional 100,000 shares during the quarter. Wave Life Sciences makes up about 2.5% of Affinity Asset Advisors LLC's investment portfolio, making the stock its 11th largest position. Affinity Asset Advisors LLC owned 0.98% of Wave Life Sciences worth $18,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of WVE. Jump Financial LLC bought a new position in Wave Life Sciences in the fourth quarter valued at approximately $1,530,000. Barclays PLC increased its position in Wave Life Sciences by 22.8% during the fourth quarter. Barclays PLC now owns 195,553 shares of the company's stock worth $2,418,000 after buying an additional 36,312 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in Wave Life Sciences by 31.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company's stock worth $119,000 after purchasing an additional 2,308 shares during the period. F M Investments LLC acquired a new position in Wave Life Sciences in the 4th quarter valued at $2,796,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Wave Life Sciences in the fourth quarter valued at approximately $157,000. Institutional investors and hedge funds own 89.73% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WVE. HC Wainwright reiterated a "buy" rating and issued a $22.00 price target on shares of Wave Life Sciences in a research note on Wednesday, March 26th. Jefferies Financial Group initiated coverage on Wave Life Sciences in a research report on Tuesday, February 25th. They set a "buy" rating and a $26.00 target price on the stock. Wedbush started coverage on shares of Wave Life Sciences in a research report on Tuesday, April 8th. They issued an "outperform" rating and a $18.00 price objective for the company. Finally, StockNews.com upgraded Wave Life Sciences from a "sell" rating to a "hold" rating in a research note on Saturday, March 8th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.18.

Wave Life Sciences Trading Up 1.4 %

Shares of NASDAQ:WVE traded up $0.08 during trading on Friday, reaching $5.92. 947,955 shares of the company traded hands, compared to its average volume of 1,194,030. Wave Life Sciences Ltd. has a 52-week low of $4.25 and a 52-week high of $16.74. The firm has a market capitalization of $908.64 million, a price-to-earnings ratio of -5.33 and a beta of -0.93. The business's fifty day moving average is $8.92 and its 200-day moving average is $11.57.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last announced its quarterly 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. On average, sell-side 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 firm's stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 338,351 shares in the company, valued at $3,238,019.07. This trade represents a 33.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Christian O. Henry sold 10,500 shares of Wave Life Sciences stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $9.77, for a total value of $102,585.00. Following the sale, the director now directly owns 16,115 shares in the company, valued at approximately $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 currently owned by company insiders.

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.