Capstone Capital Management Ltd Buys New Stake in WAVE Life Sciences Ltd. $WVE

Capstone Capital Management Ltd acquired a new position in WAVE Life Sciences Ltd. (NASDAQ:WVE) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 144,029 shares of the company’s stock, valued at approximately $1,044,000. WAVE Life Sciences accounts for about 1.0% of Capstone Capital Management Ltd’s portfolio, making the stock its 24th largest holding.

Other hedge funds have also modified their holdings of the company. GSK plc purchased a new stake in shares of WAVE Life Sciences in the fourth quarter valued at approximately $310,177,000. Adage Capital Partners GP L.L.C. lifted 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 buying an additional 2,500,000 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in WAVE Life Sciences by 83.1% in 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 acquiring an additional 3,362,880 shares during the period. Darwin Global Management Ltd. acquired a new stake in WAVE Life Sciences in the 4th quarter valued at $125,168,000. Finally, Federated Hermes Inc. increased its holdings in WAVE Life Sciences by 26.5% in the 4th quarter. Federated Hermes Inc. now owns 4,744,520 shares of the company’s stock worth $80,657,000 after acquiring an additional 993,827 shares in the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on WVE shares. New Street Research set a $13.00 price target on shares of WAVE Life Sciences in a research report on Thursday, June 11th. Canaccord Genuity Group lowered their price objective on WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Citigroup cut their price objective on WAVE Life Sciences from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, May 4th. Mizuho increased their target price on WAVE Life Sciences from $22.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, March 25th. Finally, HC Wainwright restated a “buy” rating on shares of WAVE Life Sciences in a research report on Thursday, June 11th. Fourteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.41.

WAVE Life Sciences Stock Performance

WVE stock opened at $6.24 on Thursday. WAVE Life Sciences Ltd. has a one year low of $5.02 and a one year high of $21.73. The firm has a market cap of $1.20 billion, a PE ratio of -5.89 and a beta of -1.29. The firm’s 50 day moving average price is $6.31 and its 200-day moving average price is $10.21.

WAVE Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Wednesday, April 29th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.21. The company had revenue of $38.25 million during the quarter, compared to analyst estimates of $8.45 million. WAVE Life Sciences had a negative return on equity of 56.76% and a negative net margin of 255.70%. Equities research analysts predict that WAVE Life Sciences Ltd. will post -1.1 EPS for the current fiscal 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.