Trexquant Investment LP Invests $162,000 in Wave Life Sciences Ltd. (NASDAQ:WVE)

Trexquant Investment LP bought a new position in Wave Life Sciences Ltd. (NASDAQ:WVEFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 32,119 shares of the company’s stock, valued at approximately $162,000.

Several other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC boosted its position in Wave Life Sciences by 33.6% during the 4th quarter. SG Americas Securities LLC now owns 34,562 shares of the company’s stock valued at $175,000 after purchasing an additional 8,694 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in Wave Life Sciences by 351.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,456 shares of the company’s stock valued at $58,000 after purchasing an additional 8,920 shares during the period. Newtyn Management LLC boosted its position in Wave Life Sciences by 2.0% during the 3rd quarter. Newtyn Management LLC now owns 510,000 shares of the company’s stock valued at $2,932,000 after purchasing an additional 10,000 shares during the period. Wellington Management Group LLP boosted its position in Wave Life Sciences by 4.3% during the 3rd quarter. Wellington Management Group LLP now owns 264,885 shares of the company’s stock valued at $1,523,000 after purchasing an additional 10,830 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in Wave Life Sciences during the 4th quarter valued at approximately $86,000. Institutional investors and hedge funds own 89.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WVE. Wells Fargo & Company began coverage on Wave Life Sciences in a research report on Wednesday, May 15th. They set an “overweight” rating and a $11.00 price objective for the company. StockNews.com downgraded Wave Life Sciences from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Truist Financial reaffirmed a “buy” rating and set a $17.00 target price on shares of Wave Life Sciences in a research note on Monday, April 1st. HC Wainwright lifted their target price on Wave Life Sciences from $8.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $5.00 target price on shares of Wave Life Sciences in a research note on Thursday, March 7th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $11.17.

Read Our Latest Research Report on WVE

Wave Life Sciences Stock Performance

WVE opened at $6.23 on Thursday. Wave Life Sciences Ltd. has a one year low of $3.45 and a one year high of $7.67. The stock’s fifty day moving average is $5.77 and its 200-day moving average is $5.28. The company has a market capitalization of $762.93 million, a PE ratio of -11.98 and a beta of -1.03.

Wave Life Sciences (NASDAQ:WVEGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The firm had revenue of $12.54 million during the quarter, compared to the consensus estimate of $25.67 million. During the same quarter in the previous year, the company earned ($0.27) earnings per share. On average, equities research analysts forecast that Wave Life Sciences Ltd. will post -0.85 EPS for the current fiscal year.

Insider Transactions at Wave Life Sciences

In other news, CFO Kyle Moran sold 15,630 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $6.17, for a total transaction of $96,437.10. Following the sale, the chief financial officer now directly owns 33,921 shares of the company’s stock, valued at $209,292.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.10% of the stock is owned by insiders.

About Wave Life Sciences

(Free Report)

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.

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Institutional Ownership by Quarter for Wave Life Sciences (NASDAQ:WVE)

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