Emerald Mutual Fund Advisers Trust Has $23.89 Million Holdings in Wave Life Sciences Ltd. (NASDAQ:WVE)

Emerald Mutual Fund Advisers Trust lowered its position in Wave Life Sciences Ltd. (NASDAQ:WVE) by 9.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,931,034 shares of the company’s stock after selling 192,432 shares during the quarter. Wave Life Sciences accounts for about 1.5% of Emerald Mutual Fund Advisers Trust’s holdings, making the stock its 14th largest position. Emerald Mutual Fund Advisers Trust owned 1.27% of Wave Life Sciences worth $23,887,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Quarry LP acquired a new stake in shares of Wave Life Sciences during the 4th quarter worth approximately $62,000. KBC Group NV bought a new position in Wave Life Sciences in the fourth quarter valued at approximately $67,000. Summit Investment Advisors Inc. boosted its holdings 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 buying an additional 2,308 shares during the last quarter. Westwood Wealth Management acquired a new position in Wave Life Sciences during the fourth quarter valued at approximately $124,000. Finally, Raymond James Financial Inc. bought a new stake in Wave Life Sciences in the fourth quarter valued at approximately $157,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a report on Wednesday, March 26th. StockNews.com raised Wave Life Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Jefferies Financial Group began coverage on Wave Life Sciences in a report on Tuesday, February 25th. They set a “buy” rating and a $26.00 target price for the company. Finally, Wedbush started coverage on Wave Life Sciences in a research report on Tuesday, April 8th. They set an “outperform” rating and a $18.00 price objective for the company. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.18.

Insider Activity at Wave Life Sciences

In related news, 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 transaction of $102,585.00. Following the sale, the director now directly owns 16,115 shares of the company’s stock, valued at approximately $157,443.55. The trade was a 39.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Paul Bolno sold 169,025 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the completion of the sale, the chief executive officer now owns 338,351 shares in the company, valued at $3,238,019.07. This represents a 33.31 % decrease in their position. The disclosure for this sale can be found here. 29.10% of the stock is currently owned by corporate insiders.

Wave Life Sciences Stock Performance

Shares of WVE stock opened at $6.73 on Monday. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -6.06 and a beta of -0.93. 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 simple moving average of $8.49 and a 200 day simple moving average of $11.54.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Tuesday, March 4th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $25.60 million. Sell-side analysts forecast that Wave Life Sciences Ltd. will post -1.14 EPS for the current year.

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.