Federated Hermes Inc. Boosts Stock Holdings in WAVE Life Sciences Ltd. $WVE

Federated Hermes Inc. lifted its position in WAVE Life Sciences Ltd. (NASDAQ:WVE) by 678,144.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,750,693 shares of the company’s stock after acquiring an additional 3,750,140 shares during the quarter. Federated Hermes Inc.’s holdings in WAVE Life Sciences were worth $27,455,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of WAVE Life Sciences by 2.9% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 368,705 shares of the company’s stock worth $2,699,000 after buying an additional 10,276 shares during the last quarter. Matisse Capital increased its position in shares of WAVE Life Sciences by 17.9% during the third quarter. Matisse Capital now owns 13,193 shares of the company’s stock valued at $97,000 after acquiring an additional 2,000 shares during the last quarter. Verdence Capital Advisors LLC bought a new stake in WAVE Life Sciences during the third quarter worth $86,000. Voya Investment Management LLC boosted its position in WAVE Life Sciences by 736.5% in the third quarter. Voya Investment Management LLC now owns 258,011 shares of the company’s stock worth $1,889,000 after purchasing an additional 227,167 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in WAVE Life Sciences by 77.8% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 93,370 shares of the company’s stock valued at $607,000 after purchasing an additional 40,850 shares during the period. 89.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

WVE has been the topic of a number of recent analyst reports. UBS Group set a $32.00 target price on WAVE Life Sciences in a research note on Tuesday, December 16th. Leerink Partners reaffirmed an “outperform” rating on shares of WAVE Life Sciences in a report on Monday, December 8th. Oppenheimer raised their target price on WAVE Life Sciences from $24.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 16th. Cantor Fitzgerald lifted their price objective on WAVE Life Sciences from $12.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, December 9th. Finally, HC Wainwright lifted their target price on shares of WAVE Life Sciences from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Thirteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.67.

WAVE Life Sciences Price Performance

Shares of WAVE Life Sciences stock opened at $12.94 on Friday. WAVE Life Sciences Ltd. has a 1 year low of $5.28 and a 1 year high of $21.73. The firm has a market cap of $2.16 billion, a PE ratio of -17.25 and a beta of -1.82. The company has a 50 day simple moving average of $14.03 and a two-hundred day simple moving average of $10.07.

WAVE Life Sciences (NASDAQ:WVE) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). WAVE Life Sciences had a negative net margin of 111.64% and a negative return on equity of 75.61%. The company had revenue of $7.61 million for the quarter, compared to analysts’ expectations of $9.85 million. As a group, research analysts anticipate that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Plc Gsk purchased 1,470,000 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was acquired at an average price of $19.00 per share, with a total value of $27,930,000.00. Following the transaction, the insider directly owned 18,245,691 shares of the company’s stock, valued at approximately $346,668,129. This represents a 8.76% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Francis sold 9,375 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $16.03, for a total transaction of $150,281.25. Following the completion of the sale, the insider directly owned 25,000 shares in the company, valued at approximately $400,750. This trade represents a 27.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 912,117 shares of company stock worth $13,464,044 in the last 90 days. 23.98% of the stock is currently owned by company insiders.

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.