WAVE Life Sciences Ltd. $WVE Stock Position Boosted by Invesco Ltd.

Invesco Ltd. boosted its stake in WAVE Life Sciences Ltd. (NASDAQ:WVE) by 97.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 78,880 shares of the company’s stock after buying an additional 38,870 shares during the period. Invesco Ltd. owned 0.05% of WAVE Life Sciences worth $637,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of WVE. Polar Capital Holdings Plc acquired a new stake in WAVE Life Sciences in the 4th quarter valued at about $12,370,000. MPM Bioimpact LLC lifted its holdings in WAVE Life Sciences by 138.5% in the 4th quarter. MPM Bioimpact LLC now owns 1,489,237 shares of the company’s stock valued at $18,422,000 after acquiring an additional 864,766 shares during the last quarter. Driehaus Capital Management LLC lifted its holdings in WAVE Life Sciences by 14.6% in the 4th quarter. Driehaus Capital Management LLC now owns 6,712,449 shares of the company’s stock valued at $83,033,000 after acquiring an additional 853,589 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in WAVE Life Sciences in the 4th quarter valued at about $10,463,000. Finally, Stempoint Capital LP lifted its holdings in WAVE Life Sciences by 140.4% in the 4th quarter. Stempoint Capital LP now owns 721,209 shares of the company’s stock valued at $8,921,000 after acquiring an additional 421,209 shares during the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Oppenheimer assumed coverage on shares of WAVE Life Sciences in a research note on Monday, July 28th. They set an “outperform” rating and a $24.00 price objective for the company. Citigroup assumed coverage on shares of WAVE Life Sciences in a research note on Wednesday, July 16th. They set a “buy” rating and a $16.00 price objective for the company. Canaccord Genuity Group assumed coverage on shares of WAVE Life Sciences in a research note on Monday, August 4th. They set a “buy” rating and a $19.00 price objective for the company. Wall Street Zen lowered shares of WAVE Life Sciences from a “hold” rating to a “sell” rating in a research note on Friday, May 9th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $22.00 price objective on shares of WAVE Life Sciences in a research note on Wednesday. Fourteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, WAVE Life Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $20.07.

Insider Buying and Selling

In other news, Director Gregory L. Verdine sold 30,000 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $6.95, for a total value of $208,500.00. Following the completion of the sale, the director directly owned 282,517 shares of the company’s stock, valued at approximately $1,963,493.15. This represents a 9.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Paul Bolno sold 217,351 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $10.10, for a total value of $2,195,245.10. Following the completion of the sale, the chief executive officer directly owned 121,000 shares of the company’s stock, valued at $1,222,100. This represents a 64.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 271,893 shares of company stock worth $2,631,568. 23.98% of the stock is currently owned by company insiders.

WAVE Life Sciences Price Performance

NASDAQ WVE opened at $8.18 on Friday. The company has a 50 day simple moving average of $8.40 and a 200-day simple moving average of $7.94. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -9.09 and a beta of -1.15. WAVE Life Sciences Ltd. has a 52-week low of $5.04 and a 52-week high of $16.74.

WAVE Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Wednesday, July 30th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.02). The company had revenue of $8.70 million during the quarter, compared to analysts’ expectations of $11.52 million. On average, analysts predict that WAVE Life Sciences Ltd. will post -1.14 EPS for the current year.

WAVE Life Sciences Company Profile

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.