Elmind Capital LP Acquires New Holdings in WAVE Life Sciences Ltd. $WVE

Elmind Capital LP acquired a new stake in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 447,846 shares of the company’s stock, valued at approximately $7,613,000. WAVE Life Sciences makes up approximately 2.2% of Elmind Capital LP’s portfolio, making the stock its 15th largest position. Elmind Capital LP owned 0.27% of WAVE Life Sciences as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Pictet Asset Management Holding SA grew its stake in WAVE Life Sciences by 5,024.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 805,901 shares of the company’s stock valued at $13,830,000 after acquiring an additional 790,175 shares in the last quarter. GSA Capital Partners LLP purchased a new position in WAVE Life Sciences during the third quarter valued at approximately $375,000. Prescott Group Capital Management L.L.C. purchased a new position in WAVE Life Sciences during the fourth quarter valued at approximately $1,530,000. F m Investments LLC lifted its position in WAVE Life Sciences by 24.5% during the fourth quarter. F m Investments LLC now owns 395,894 shares of the company’s stock valued at $6,730,000 after purchasing an additional 77,807 shares during the last quarter. Finally, Knott David M Jr lifted its position in WAVE Life Sciences by 125.0% during the third quarter. Knott David M Jr now owns 90,000 shares of the company’s stock valued at $659,000 after purchasing an additional 50,000 shares during the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

WAVE Life Sciences Stock Performance

Shares of WVE opened at $5.95 on Thursday. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -5.61 and a beta of -1.33. WAVE Life Sciences Ltd. has a fifty-two week low of $5.02 and a fifty-two week high of $21.73. The firm has a 50 day moving average price of $6.68 and a 200-day moving average price of $10.99.

WAVE Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data 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 firm had revenue of $38.25 million during the quarter, compared to analyst estimates 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, equities research analysts predict that WAVE Life Sciences Ltd. will post -1.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wedbush boosted their price objective on shares of WAVE Life Sciences from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Truist Financial assumed coverage on shares of WAVE Life Sciences in a report on Wednesday, April 29th. They issued a “buy” rating and a $15.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of WAVE Life Sciences in a report on Monday, April 20th. Citigroup lowered their price objective on shares of WAVE Life Sciences from $30.00 to $24.00 and set a “buy” rating for the company in a report on Monday, May 4th. Finally, Mizuho boosted their price objective 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. Fourteen investment 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, WAVE Life Sciences has an average rating of “Moderate Buy” and a consensus 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.