WAVE Life Sciences Ltd. $WVE Shares Bought by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. grew its stake in WAVE Life Sciences Ltd. (NASDAQ:WVE) by 77.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 93,370 shares of the company’s stock after buying an additional 40,850 shares during the quarter. China Universal Asset Management Co. Ltd. owned 0.06% of WAVE Life Sciences worth $607,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in WVE. Handelsbanken Fonder AB acquired a new stake in shares of WAVE Life Sciences in the 2nd quarter valued at $330,000. JPMorgan Chase & Co. grew its stake in shares of WAVE Life Sciences by 33.1% during the second quarter. JPMorgan Chase & Co. now owns 1,569,015 shares of the company’s stock worth $10,199,000 after purchasing an additional 390,078 shares in the last quarter. Invesco Ltd. increased its holdings in WAVE Life Sciences by 97.2% in the first quarter. Invesco Ltd. now owns 78,880 shares of the company’s stock valued at $637,000 after buying an additional 38,870 shares during the last quarter. Strs Ohio purchased a new position in WAVE Life Sciences in the first quarter valued at $406,000. Finally, Schroder Investment Management Group raised its stake in WAVE Life Sciences by 29.7% in the second quarter. Schroder Investment Management Group now owns 621,378 shares of the company’s stock valued at $4,039,000 after buying an additional 142,109 shares in the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.

WAVE Life Sciences Stock Performance

NASDAQ WVE opened at $16.56 on Monday. WAVE Life Sciences Ltd. has a one year low of $5.28 and a one year high of $21.73. The firm has a market cap of $2.77 billion, a PE ratio of -22.08 and a beta of -1.72. The firm’s fifty day moving average is $8.66 and its two-hundred day moving average is $8.06.

WAVE Life Sciences (NASDAQ:WVE) last issued 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). WAVE Life Sciences had a negative net margin of 111.64% and a negative return on equity of 75.61%. The company had revenue of $7.61 million during the quarter, compared to analyst estimates of $9.85 million. Research analysts predict that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Kyle Moran sold 210,000 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $14.77, for a total transaction of $3,101,700.00. Following the transaction, the chief financial officer directly owned 89,218 shares in the company, valued at $1,317,749.86. The trade was a 70.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Adrian Rawcliffe sold 42,000 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $15.00, for a total transaction of $630,000.00. Following the transaction, the director directly owned 12,700 shares of the company’s stock, valued at $190,500. This represents a 76.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 902,742 shares of company stock worth $13,313,763 in the last ninety days. Insiders own 23.98% of the company’s stock.

Analyst Ratings Changes

WVE has been the topic of a number of recent analyst reports. UBS Group set a $30.00 price objective on WAVE Life Sciences in a report on Tuesday, December 9th. Royal Bank Of Canada upgraded shares of WAVE Life Sciences from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $9.00 to $27.00 in a research note on Monday, December 8th. Raymond James Financial restated an “outperform” rating and set a $21.00 price objective on shares of WAVE Life Sciences in a research report on Monday, December 8th. Wells Fargo & Company upped their target price on shares of WAVE Life Sciences from $16.00 to $29.00 and gave the company an “overweight” rating in a report on Tuesday, December 9th. Finally, Wedbush lifted their target price on WAVE Life Sciences from $20.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, WAVE Life Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $29.07.

WAVE Life Sciences 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.