WAVE Life Sciences Ltd. $WVE Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC increased its position in WAVE Life Sciences Ltd. (NASDAQ:WVE) by 152.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 597,220 shares of the company’s stock after buying an additional 360,800 shares during the period. Renaissance Technologies LLC’s holdings in WAVE Life Sciences were worth $4,330,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC grew its position in WAVE Life Sciences by 6,729.0% during the fourth quarter. CWM LLC now owns 2,117 shares of the company’s stock valued at $36,000 after acquiring an additional 2,086 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of WAVE Life Sciences by 645.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,243 shares of the company’s stock worth $38,000 after purchasing an additional 1,942 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of WAVE Life Sciences in the 4th quarter worth about $82,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of WAVE Life Sciences by 32.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,124 shares of the company’s stock valued at $138,000 after purchasing an additional 1,972 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of WAVE Life Sciences by 1,441.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company’s stock valued at $73,000 after purchasing an additional 9,284 shares in the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

WAVE Life Sciences Stock Up 1.5%

Shares of NASDAQ:WVE opened at $6.02 on Friday. WAVE Life Sciences Ltd. has a 52-week low of $5.02 and a 52-week high of $21.73. The company has a 50 day moving average of $5.94 and a two-hundred day moving average of $8.71. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -5.52 and a beta of -1.26.

WAVE Life Sciences (NASDAQ:WVE) last posted its quarterly earnings data 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). WAVE Life Sciences had a negative net margin of 309.73% and a negative return on equity of 50.36%. The firm had revenue of $2.27 million for the quarter, compared to analysts’ expectations of $7.45 million. On average, equities analysts anticipate that WAVE Life Sciences Ltd. will post -1.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WVE has been the subject of a number of research reports. Wells Fargo & Company increased their target price on shares of WAVE Life Sciences from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WAVE Life Sciences in a research report on Friday, July 17th. Mizuho cut their target price on shares of WAVE Life Sciences from $27.00 to $23.00 and set an “outperform” rating on the stock in a research note on Tuesday. B. Riley Financial reduced their target price on shares of WAVE Life Sciences from $31.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Finally, Citigroup decreased their price target on shares of WAVE Life Sciences from $24.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.53.

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.