Teacher Retirement System of Texas Reduces Stock Position in WAVE Life Sciences Ltd. (NASDAQ:WVE)

Teacher Retirement System of Texas cut its position in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) by 15.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,749 shares of the company’s stock after selling 4,724 shares during the period. Teacher Retirement System of Texas’ holdings in WAVE Life Sciences were worth $216,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Rhumbline Advisers raised its holdings in shares of WAVE Life Sciences by 6.3% in the 1st quarter. Rhumbline Advisers now owns 132,700 shares of the company’s stock valued at $1,072,000 after purchasing an additional 7,860 shares in the last quarter. James J. Burns & Company LLC boosted its holdings in shares of WAVE Life Sciences by 9.7% in the 1st quarter. James J. Burns & Company LLC now owns 121,913 shares of the company’s stock valued at $985,000 after acquiring an additional 10,802 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of WAVE Life Sciences by 30.9% in the 4th quarter. California State Teachers Retirement System now owns 98,237 shares of the company’s stock valued at $1,215,000 after acquiring an additional 23,215 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of WAVE Life Sciences in the 4th quarter valued at $4,482,000. Finally, Polar Asset Management Partners Inc. boosted its holdings in shares of WAVE Life Sciences by 14.7% in the 4th quarter. Polar Asset Management Partners Inc. now owns 557,323 shares of the company’s stock valued at $6,894,000 after acquiring an additional 71,300 shares during the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

WAVE Life Sciences Price Performance

WAVE Life Sciences stock opened at $8.34 on Friday. WAVE Life Sciences Ltd. has a 12-month low of $5.04 and a 12-month high of $16.74. The stock has a market capitalization of $1.30 billion, a P/E ratio of -9.93 and a beta of -1.01. The firm’s 50-day moving average is $6.83 and its two-hundred day moving average is $8.57.

WAVE Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The company had revenue of $9.18 million for the quarter, compared to analysts’ expectations of $11.65 million. During the same quarter last year, the firm earned ($0.24) EPS. As a group, analysts forecast that WAVE Life Sciences Ltd. will post -1.14 EPS for the current year.

Insider Buying and Selling at WAVE Life Sciences

In other WAVE Life Sciences news, Director Gregory L. Verdine sold 30,000 shares of WAVE Life Sciences stock in a transaction on Friday, June 13th. The shares were sold at an average price of $6.95, for a total value of $208,500.00. Following the completion of the transaction, the director owned 282,517 shares of the company’s stock, valued at $1,963,493.15. The trade was a 9.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 23.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. HC Wainwright restated a “buy” rating and set a $22.00 price objective on shares of WAVE Life Sciences in a research report on Wednesday, March 26th. Wall Street Zen cut shares of WAVE Life Sciences from a “hold” rating to a “sell” rating in a research report on Friday, May 9th. Raymond James Financial initiated coverage on shares of WAVE Life Sciences in a research report on Wednesday, June 11th. They issued an “outperform” rating and a $14.00 target price for the company. Wedbush reiterated an “outperform” rating and issued a $18.00 target price on shares of WAVE Life Sciences in a research report on Monday, June 23rd. Finally, Cantor Fitzgerald initiated coverage on shares of WAVE Life Sciences in a research report on Tuesday, April 29th. They issued an “overweight” rating and a $10.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.15.

About WAVE Life Sciences

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.