WAVE Life Sciences Ltd. $WVE Shares Acquired by Affinity Asset Advisors LLC

Affinity Asset Advisors LLC lifted its position in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) by 9.6% in the 2nd quarter, Holdings Channel reports. The fund owned 2,000,308 shares of the company’s stock after buying an additional 175,308 shares during the period. WAVE Life Sciences comprises 1.8% of Affinity Asset Advisors LLC’s investment portfolio, making the stock its 16th biggest holding. Affinity Asset Advisors LLC’s holdings in WAVE Life Sciences were worth $13,002,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Handelsbanken Fonder AB acquired a new position in WAVE Life Sciences during the 2nd quarter valued at about $330,000. Invesco Ltd. lifted its position in shares of WAVE Life Sciences by 97.2% during the 1st quarter. Invesco Ltd. now owns 78,880 shares of the company’s stock valued at $637,000 after acquiring an additional 38,870 shares during the last quarter. Strs Ohio purchased a new stake in shares of WAVE Life Sciences during the first quarter valued at $406,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in WAVE Life Sciences by 16.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,974 shares of the company’s stock valued at $339,000 after buying an additional 6,015 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in WAVE Life Sciences by 6.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,759,381 shares of the company’s stock worth $17,938,000 after purchasing an additional 166,982 shares during the period. 89.73% of the stock is owned by institutional investors.

Insider Transactions at WAVE Life Sciences

In other news, Director Adrian Rawcliffe sold 16,115 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $6.79, for a total value of $109,420.85. Following the completion of the sale, the director directly 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 filing with the SEC, which is available at this link. Company insiders own 23.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WVE. HC Wainwright reiterated a “buy” rating and issued a $22.00 target price on shares of WAVE Life Sciences in a research report on Wednesday, September 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $12.00 price objective on shares of WAVE Life Sciences in a research report on Monday, October 27th. Wedbush boosted their price target on WAVE Life Sciences from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of WAVE Life Sciences in a research note on Wednesday, October 8th. Finally, B. Riley reiterated a “buy” rating on shares of WAVE Life Sciences in a report on Thursday, September 4th. Ten investment 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 has an average rating of “Moderate Buy” and a consensus price target of $19.50.

WAVE Life Sciences Price Performance

WVE opened at $7.49 on Friday. The business’s 50-day moving average price is $7.50 and its two-hundred day moving average price is $7.59. WAVE Life Sciences Ltd. has a 1 year low of $5.28 and a 1 year high of $15.72. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -9.99 and a beta of -1.72.

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). The business had revenue of $7.61 million during the quarter, compared to analyst estimates of $9.85 million. WAVE Life Sciences had a negative net margin of 111.64% and a negative return on equity of 75.61%. Sell-side analysts anticipate that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

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.