Eventide Asset Management LLC Acquires New Shares in WAVE Life Sciences Ltd. $WVE

Eventide Asset Management LLC acquired a new stake in WAVE Life Sciences Ltd. (NASDAQ:WVE) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 500,000 shares of the company’s stock, valued at approximately $8,500,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CWM LLC increased its holdings in WAVE Life Sciences by 6,729.0% in the fourth quarter. CWM LLC now owns 2,117 shares of the company’s stock valued at $36,000 after purchasing an additional 2,086 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in WAVE Life Sciences by 645.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,243 shares of the company’s stock valued at $38,000 after acquiring an additional 1,942 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in WAVE Life Sciences in the fourth quarter valued at about $82,000. Mirae Asset Global Investments Co. Ltd. grew its stake in WAVE Life Sciences by 32.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,124 shares of the company’s stock valued at $138,000 after acquiring an additional 1,972 shares during the period. Finally, Bessemer Group Inc. grew its stake in WAVE Life Sciences by 1,156.3% in the third quarter. Bessemer Group Inc. now owns 9,925 shares of the company’s stock valued at $72,000 after acquiring an additional 9,135 shares during the period. Institutional investors own 89.73% of the company’s stock.

WAVE Life Sciences Price Performance

WVE stock opened at $5.87 on Monday. The stock has a market capitalization of $1.13 billion, a P/E ratio of -5.54 and a beta of -1.33. The business has a 50-day moving average of $6.76 and a 200-day moving average of $11.03. WAVE Life Sciences Ltd. has a fifty-two week low of $5.02 and a fifty-two week high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last posted its quarterly earnings data on Wednesday, April 29th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.21. The company had revenue of $38.25 million during the quarter, compared to analysts’ expectations of $8.45 million. WAVE Life Sciences had a negative return on equity of 56.76% and a negative net margin of 255.70%. Equities analysts expect that WAVE Life Sciences Ltd. will post -1.16 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Citigroup decreased their target price on WAVE Life Sciences from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, May 4th. Canaccord Genuity Group decreased their target price on WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. New Street Research set a $13.00 target price on WAVE Life Sciences in a research note on Thursday. Bank of America decreased their target price on WAVE Life Sciences from $38.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Finally, HC Wainwright reissued a “buy” rating on shares of WAVE Life Sciences in a research note on Thursday. Fourteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.41.

WAVE Life Sciences Profile

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.