Emerald Mutual Fund Advisers Trust Sells 171,427 Shares of WAVE Life Sciences Ltd. $WVE

Emerald Mutual Fund Advisers Trust trimmed its holdings in WAVE Life Sciences Ltd. (NASDAQ:WVE) by 8.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,766,062 shares of the company’s stock after selling 171,427 shares during the period. Emerald Mutual Fund Advisers Trust owned about 1.11% of WAVE Life Sciences worth $12,928,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. lifted its holdings in WAVE Life Sciences by 20.0% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 15,016,500 shares of the company’s stock worth $97,607,000 after purchasing an additional 2,500,000 shares in the last quarter. 683 Capital Management LLC raised its position in shares of WAVE Life Sciences by 4.5% during the second quarter. 683 Capital Management LLC now owns 4,100,000 shares of the company’s stock valued at $26,650,000 after buying an additional 175,000 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of WAVE Life Sciences by 35.3% in the second quarter. Loomis Sayles & Co. L P now owns 3,295,700 shares of the company’s stock worth $21,422,000 after buying an additional 859,160 shares in the last quarter. Emerald Advisers LLC lifted its holdings in shares of WAVE Life Sciences by 3.9% in the second quarter. Emerald Advisers LLC now owns 3,257,119 shares of the company’s stock worth $21,171,000 after buying an additional 123,561 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of WAVE Life Sciences by 6.4% during the second quarter. Geode Capital Management LLC now owns 2,759,381 shares of the company’s stock worth $17,938,000 after acquiring an additional 166,982 shares during the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

WAVE Life Sciences Stock Performance

NASDAQ WVE opened at $13.82 on Friday. The company has a market cap of $2.31 billion, a P/E ratio of -18.43 and a beta of -1.82. The business’s 50 day moving average price is $13.30 and its 200-day moving average price is $9.83. WAVE Life Sciences Ltd. has a fifty-two week low of $5.28 and a fifty-two week high of $21.73.

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 analysts’ consensus estimates of ($0.30) by ($0.02). The company had revenue of $7.61 million during the quarter, compared to the consensus estimate of $9.85 million. WAVE Life Sciences had a negative return on equity of 75.61% and a negative net margin of 111.64%. As a group, equities analysts predict that WAVE Life Sciences Ltd. will post -1.14 EPS for the current year.

Insider Activity

In other WAVE Life Sciences news, Director Christian O. Henry sold 93,445 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $14.65, for a total transaction of $1,368,969.25. Following the completion of the transaction, the director owned 12,700 shares in the company, valued at $186,055. The trade was a 88.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Plc Gsk bought 1,470,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were acquired at an average cost of $19.00 per share, for a total transaction of $27,930,000.00. Following the purchase, the insider owned 18,245,691 shares of the company’s stock, valued at approximately $346,668,129. The trade was a 8.76% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 912,117 shares of company stock worth $13,464,044 in the last 90 days. Company insiders own 23.98% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on WVE shares. Truist Financial lifted their price target on shares of WAVE Life Sciences from $36.00 to $50.00 and gave the company a “buy” rating in a report on Monday, December 15th. Wells Fargo & Company lifted their price objective on WAVE Life Sciences from $16.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. Cantor Fitzgerald upped their price objective on WAVE Life Sciences from $12.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, December 9th. Raymond James Financial reiterated an “outperform” rating and set a $21.00 target price on shares of WAVE Life Sciences in a research report on Monday, December 8th. Finally, Citigroup boosted their price target on shares of WAVE Life Sciences from $16.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.67.

About WAVE Life Sciences

WAVE Life Sciences is a clinical-stage genetic medicines company focused on the discovery and development of stereopure oligonucleotide therapies designed to address serious diseases with high unmet medical need. Leveraging proprietary chemistry and precision synthesis, WAVE engineers drug candidates with defined stereochemistry to optimize potency, safety and manufacturability. This approach aims to enhance target specificity and improve therapeutic profiles compared with traditional oligonucleotide medicines.

The company’s pipeline includes programs in neuromuscular disorders such as Duchenne muscular dystrophy and neurodegenerative conditions including Huntington’s disease, as well as early-stage cardiovascular and liver indications.