Handelsbanken Fonder AB Takes Position in WAVE Life Sciences Ltd. $WVE

Handelsbanken Fonder AB purchased a new stake in WAVE Life Sciences Ltd. (NASDAQ:WVE) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 50,800 shares of the company’s stock, valued at approximately $330,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of WVE. Knott David M Jr acquired a new position in shares of WAVE Life Sciences in the first quarter worth about $81,000. Ascent Group LLC acquired a new stake in shares of WAVE Life Sciences during the first quarter valued at approximately $83,000. Chicago Partners Investment Group LLC acquired a new position in WAVE Life Sciences in the 1st quarter worth approximately $103,000. Allostery Investments LP purchased a new position in WAVE Life Sciences during the 1st quarter worth approximately $141,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in WAVE Life Sciences by 9.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,673 shares of the company’s stock valued at $151,000 after purchasing an additional 1,564 shares during the period. Institutional investors and hedge funds own 89.73% of the company’s stock.

Insider Buying and Selling

In other news, Director Adrian Rawcliffe sold 16,115 shares of WAVE Life Sciences stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $6.79, for a total value of $109,420.85. Following the transaction, the director owned 12,700 shares of the company’s stock, valued at $86,233. This trade represents a 55.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 23.98% of the stock is currently owned by company insiders.

WAVE Life Sciences Price Performance

NASDAQ WVE opened at $7.74 on Monday. WAVE Life Sciences Ltd. has a fifty-two week low of $5.28 and a fifty-two week high of $16.38. The stock’s 50-day moving average is $7.45 and its two-hundred day moving average is $7.58. The firm has a market cap of $1.29 billion, a P/E ratio of -8.60 and a beta of -1.44.

WAVE Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The firm had revenue of $7.61 million during the quarter, compared to the consensus estimate of $9.85 million. On average, equities analysts expect that WAVE Life Sciences Ltd. will post -1.14 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on WVE shares. Leerink Partners set a $26.00 price target on WAVE Life Sciences in a report on Wednesday, September 3rd. Canaccord Genuity Group started coverage on WAVE Life Sciences in a research report on Monday, August 4th. They set a “buy” rating and a $19.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $22.00 target price on shares of WAVE Life Sciences in a report on Wednesday, September 3rd. Cantor Fitzgerald restated an “overweight” rating and set a $12.00 price target on shares of WAVE Life Sciences in a report on Monday, October 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of WAVE Life Sciences in a research note on Wednesday, October 8th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.50.

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.