Pictet Asset Management Holding SA Buys 343,226 Shares of WAVE Life Sciences Ltd. $WVE

Pictet Asset Management Holding SA increased its position in WAVE Life Sciences Ltd. (NASDAQ:WVE) by 42.6% in the 1st quarter, HoldingsChannel reports. The fund owned 1,149,127 shares of the company’s stock after buying an additional 343,226 shares during the quarter. Pictet Asset Management Holding SA’s holdings in WAVE Life Sciences were worth $8,202,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WVE. GSK plc purchased a new position in WAVE Life Sciences during the fourth quarter valued at approximately $310,177,000. Darwin Global Management Ltd. purchased a new stake in shares of WAVE Life Sciences in the fourth quarter worth $125,168,000. Price T Rowe Associates Inc. MD raised its position in shares of WAVE Life Sciences by 83.1% during 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 purchasing an additional 3,362,880 shares during the period. Adage Capital Partners GP L.L.C. raised its position in shares of WAVE Life Sciences by 20.0% during 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 purchasing an additional 2,500,000 shares during the period. Finally, Primecap Management Co. CA lifted its stake in shares of WAVE Life Sciences by 115.7% during the 4th quarter. Primecap Management Co. CA now owns 4,095,282 shares of the company’s stock valued at $69,620,000 after buying an additional 2,196,632 shares in the last quarter. Institutional investors own 89.73% of the company’s stock.

WAVE Life Sciences Stock Performance

Shares of NASDAQ:WVE opened at $6.26 on Friday. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -5.91 and a beta of -1.29. The firm has a fifty day moving average price of $6.36 and a 200 day moving average price of $10.45. 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 announced its quarterly earnings results on Wednesday, April 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.21. The company had revenue of $38.25 million for the quarter, compared to the consensus estimate of $8.45 million. WAVE Life Sciences had a negative net margin of 255.70% and a negative return on equity of 56.76%. As a group, research analysts predict that WAVE Life Sciences Ltd. will post -1.1 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on WVE. Mizuho upped their target price on shares of WAVE Life Sciences from $22.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. Wells Fargo & Company boosted their price objective on WAVE Life Sciences from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. New Street Research set a $13.00 price objective on WAVE Life Sciences in a research report on Thursday, June 11th. Canaccord Genuity Group dropped their price objective 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. Finally, Truist Financial assumed coverage on WAVE Life Sciences in a research report on Wednesday, April 29th. They set a “buy” rating and a $15.00 target price for the company. Fourteen investment 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, the company has a consensus rating of “Moderate Buy” and an average target price 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.