Emerald Mutual Fund Advisers Trust Acquires Shares of 1,820,938 Wave Life Sciences Ltd. (NASDAQ:WVE)

Emerald Mutual Fund Advisers Trust bought a new stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) during the second quarter, HoldingsChannel reports. The firm bought 1,820,938 shares of the company’s stock, valued at approximately $9,086,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Swiss National Bank bought a new position in Wave Life Sciences during the 4th quarter valued at approximately $770,000. SG Americas Securities LLC bought a new position in shares of Wave Life Sciences during the second quarter valued at $668,000. Vanguard Group Inc. increased its holdings in shares of Wave Life Sciences by 39.7% during the first quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock valued at $11,316,000 after acquiring an additional 521,665 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Wave Life Sciences in the 4th quarter worth about $174,000. Finally, Capstone Investment Advisors LLC boosted its stake 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 worth $336,000 after purchasing an additional 4,500 shares in the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. HC Wainwright restated a “buy” rating and set a $15.00 price objective on shares of Wave Life Sciences in a research note on Wednesday, June 26th. Mizuho reissued an “outperform” rating and set a $19.00 price target on shares of Wave Life Sciences in a research report on Tuesday, June 25th. Finally, Wells Fargo & Company started coverage on shares of Wave Life Sciences in a report on Wednesday, May 15th. They issued an “overweight” rating and a $11.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Wave Life Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $13.17.

Insider Buying and Selling

In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total transaction of $279,555.48. Following the completion of the sale, the chief executive officer now directly owns 359,059 shares in the company, valued at approximately $2,075,361.02. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 29.10% of the stock is currently owned by corporate insiders.

Wave Life Sciences Stock Down 1.9 %

Shares of WVE stock opened at $5.13 on Friday. The firm has a market capitalization of $628.30 million, a PE ratio of -9.87 and a beta of -1.13. The company has a 50 day moving average price of $5.76 and a 200-day moving average price of $5.73. Wave Life Sciences Ltd. has a 52 week low of $3.50 and a 52 week high of $7.67.

Wave Life Sciences (NASDAQ:WVE) last posted its earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The company had revenue of $19.69 million during the quarter, compared to the consensus estimate of $24.80 million. Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. During the same period last year, the firm posted ($0.20) EPS. Analysts anticipate that Wave Life Sciences Ltd. will post -1.05 earnings per share for the current year.

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.