Vanguard Group Inc. Has $60.75 Million Holdings in WAVE Life Sciences Ltd. $WVE

Vanguard Group Inc. grew its position in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) by 13.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,573,746 shares of the company’s stock after purchasing an additional 433,910 shares during the quarter. Vanguard Group Inc.’s holdings in WAVE Life Sciences were worth $60,754,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in WVE. Federated Hermes Inc. boosted its stake in shares of WAVE Life Sciences by 678,144.7% during the third quarter. Federated Hermes Inc. now owns 3,750,693 shares of the company’s stock valued at $27,455,000 after purchasing an additional 3,750,140 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of WAVE Life Sciences by 20.0% during the second 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 purchasing an additional 2,500,000 shares in the last quarter. Kennedy Capital Management LLC boosted its stake in shares of WAVE Life Sciences by 1,489.5% during the third quarter. Kennedy Capital Management LLC now owns 540,437 shares of the company’s stock valued at $3,956,000 after purchasing an additional 506,437 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of WAVE Life Sciences by 131.5% during the third quarter. Two Sigma Investments LP now owns 563,004 shares of the company’s stock valued at $4,121,000 after purchasing an additional 319,837 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its stake in shares of WAVE Life Sciences by 492.8% during the third quarter. Squarepoint Ops LLC now owns 273,591 shares of the company’s stock valued at $2,003,000 after purchasing an additional 227,437 shares in the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on WVE shares. Weiss Ratings reissued a “sell (d-)” rating on shares of WAVE Life Sciences in a research note on Monday, April 20th. Mizuho lifted their price target on WAVE Life Sciences from $22.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, March 25th. Citigroup cut their price target on 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. Wall Street Zen raised WAVE Life Sciences from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Canaccord Genuity Group cut their price target on WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Fourteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.50.

Insiders Place Their Bets

In other WAVE Life Sciences news, insider Chris Francis sold 33,194 shares of WAVE Life Sciences stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $15.05, for a total value of $499,569.70. Following the completion of the sale, the insider directly owned 61,867 shares in the company, valued at approximately $931,098.35. The trade was a 34.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 24.30% of the company’s stock.

WAVE Life Sciences Stock Performance

Shares of WVE stock opened at $6.90 on Friday. The company has a market cap of $1.33 billion, a P/E ratio of -6.51 and a beta of -1.32. The stock has a 50 day simple moving average of $8.92 and a two-hundred day simple moving average of $11.23. 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 issued its earnings results on Wednesday, April 29th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.21. The business had revenue of $38.25 million during the quarter, compared to the consensus estimate of $8.45 million. WAVE Life Sciences had a negative return on equity of 56.76% and a negative net margin of 255.70%. On average, research analysts predict that WAVE Life Sciences Ltd. will post -1.16 earnings per share for the current year.

WAVE Life Sciences Company 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.