Readystate Asset Management LP Purchases New Shares in WAVE Life Sciences Ltd. $WVE

Readystate Asset Management LP purchased a new position in WAVE Life Sciences Ltd. (NASDAQ:WVE) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,727,139 shares of the company’s stock, valued at approximately $27,465,000. WAVE Life Sciences makes up 0.9% of Readystate Asset Management LP’s investment portfolio, making the stock its 23rd biggest position. Readystate Asset Management LP owned approximately 2.40% of WAVE Life Sciences as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. GSK plc purchased a new position in shares of WAVE Life Sciences in the fourth quarter worth approximately $310,177,000. Adage Capital Partners GP L.L.C. lifted its position in shares of WAVE Life Sciences by 20.0% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 15,016,500 shares of the company’s stock valued at $97,607,000 after acquiring an additional 2,500,000 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of WAVE Life Sciences by 83.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,407,372 shares of the company’s stock valued at $125,927,000 after acquiring an additional 3,362,880 shares in the last quarter. Darwin Global Management Ltd. acquired a new position in WAVE Life Sciences in the 4th quarter worth approximately $125,168,000. Finally, Federated Hermes Inc. boosted its stake in WAVE Life Sciences by 26.5% in the 4th quarter. Federated Hermes Inc. now owns 4,744,520 shares of the company’s stock worth $80,657,000 after purchasing an additional 993,827 shares during the period. Institutional investors and hedge funds own 89.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WVE. HC Wainwright reiterated a “buy” rating on shares of WAVE Life Sciences in a research report on Monday, August 3rd. Wedbush reduced their target price on WAVE Life Sciences from $15.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, July 31st. UBS Group set a $13.00 target price on WAVE Life Sciences in a research report on Monday, August 3rd. Wall Street Zen downgraded WAVE Life Sciences from a “hold” rating to a “strong sell” rating in a report on Saturday, August 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of WAVE Life Sciences in a research report on Friday, July 17th. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.31.

WAVE Life Sciences Stock Performance

Shares of WVE opened at $4.86 on Monday. The company’s 50 day moving average price is $5.64 and its 200 day moving average price is $7.52. WAVE Life Sciences Ltd. has a 52 week low of $4.64 and a 52 week high of $21.73. The company has a market capitalization of $957.66 million, a PE ratio of -4.46 and a beta of -1.30.

WAVE Life Sciences (NASDAQ:WVE) last released its earnings results on Thursday, July 30th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). The company had revenue of $2.27 million during the quarter, compared to analysts’ expectations of $7.45 million. WAVE Life Sciences had a negative return on equity of 50.36% and a negative net margin of 309.73%. On average, equities analysts forecast that WAVE Life Sciences Ltd. will post -1.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other WAVE Life Sciences news, Director Heidi L. Wagner sold 7,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $6.01, for a total value of $42,070.00. Following the transaction, the director owned 44,930 shares in the company, valued at $270,029.30. The trade was a 13.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Adrian Rawcliffe sold 12,700 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $5.29, for a total value of $67,183.00. The SEC filing for this sale provides additional information. Insiders sold 23,564 shares of company stock worth $132,476 over the last ninety days. 24.30% of the stock is currently owned by company insiders.

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.