WAVE Life Sciences Ltd. $WVE Position Reduced by Emerald Advisers LLC

Emerald Advisers LLC lessened its position in WAVE Life Sciences Ltd. (NASDAQ:WVE) by 48.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,261,183 shares of the company’s stock after selling 1,193,906 shares during the period. Emerald Advisers LLC owned approximately 0.66% of WAVE Life Sciences worth $9,144,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of WAVE Life Sciences by 9.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,349 shares of the company’s stock valued at $463,000 after acquiring an additional 4,957 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in WAVE Life Sciences by 3.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 557,644 shares of the company’s stock valued at $4,506,000 after acquiring an additional 20,624 shares in the last quarter. Rhumbline Advisers grew its position in WAVE Life Sciences by 22.5% during the second quarter. Rhumbline Advisers now owns 162,599 shares of the company’s stock valued at $1,057,000 after purchasing an additional 29,899 shares in the last quarter. Prudential Financial Inc. purchased a new position in shares of WAVE Life Sciences during the 2nd quarter valued at $80,000. Finally, Norges Bank acquired a new stake in shares of WAVE Life Sciences in the 2nd quarter valued at $650,000. 89.73% of the stock is owned by institutional investors and hedge funds.

WAVE Life Sciences Stock Performance

NASDAQ WVE opened at $5.95 on Tuesday. WAVE Life Sciences Ltd. has a 52-week low of $5.02 and a 52-week high of $21.73. The business has a 50 day simple moving average of $6.25 and a 200 day simple moving average of $9.97. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -5.61 and a beta of -1.29.

WAVE Life Sciences (NASDAQ:WVE) last posted its quarterly earnings data on Wednesday, April 29th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.21. The business had revenue of $38.25 million for the quarter, compared to analysts’ expectations of $8.45 million. WAVE Life Sciences had a negative net margin of 255.70% and a negative return on equity of 56.76%. On average, analysts predict that WAVE Life Sciences Ltd. will post -1.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. HC Wainwright reaffirmed a “buy” rating on shares of WAVE Life Sciences in a research report on Thursday, June 11th. Citigroup lowered their target price on shares of WAVE Life Sciences from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Bank of America decreased their price target on WAVE Life Sciences from $38.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Truist Financial assumed coverage on shares of WAVE Life Sciences in a research report on Wednesday, April 29th. They issued a “buy” rating and a $15.00 price objective for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of WAVE Life Sciences in a research report on Monday, April 20th. Fourteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, WAVE Life Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $26.41.

About WAVE Life Sciences

WAVE Life Sciences is a clinical-stage genetic medicines company focused on the discovery and development of stereopure oligonucleotide therapies designed to address serious diseases with high unmet medical need. Leveraging proprietary chemistry and precision synthesis, WAVE engineers drug candidates with defined stereochemistry to optimize potency, safety and manufacturability. This approach aims to enhance target specificity and improve therapeutic profiles compared with traditional oligonucleotide medicines.

The company’s pipeline includes programs in neuromuscular disorders such as Duchenne muscular dystrophy and neurodegenerative conditions including Huntington’s disease, as well as early-stage cardiovascular and liver indications.