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

China Universal Asset Management Co. Ltd. raised its holdings in WAVE Life Sciences Ltd. (NASDAQ:WVE) by 77.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 93,370 shares of the company’s stock after purchasing an additional 40,850 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in WAVE Life Sciences were worth $607,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of WVE. Ameritas Investment Partners Inc. raised its position in shares of WAVE Life Sciences by 18.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company’s stock worth $74,000 after purchasing an additional 1,802 shares during the last quarter. Tower Research Capital LLC TRC increased its position in WAVE Life Sciences by 44.8% during the second quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company’s stock worth $76,000 after buying an additional 3,609 shares in the last quarter. Prudential Financial Inc. purchased a new position in WAVE Life Sciences during the second quarter worth $80,000. Ascent Group LLC acquired a new position in shares of WAVE Life Sciences in the first quarter worth $83,000. Finally, Virtus Investment Advisers LLC lifted its position in shares of WAVE Life Sciences by 10.2% in the second quarter. Virtus Investment Advisers LLC now owns 13,060 shares of the company’s stock valued at $85,000 after acquiring an additional 1,210 shares in the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Morgan Stanley set a $28.00 price objective on WAVE Life Sciences in a research report on Monday, December 8th. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price target on shares of WAVE Life Sciences in a research note on Wednesday, September 3rd. Citigroup lifted their price target on shares of WAVE Life Sciences from $16.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Royal Bank Of Canada raised shares of WAVE Life Sciences from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $9.00 to $27.00 in a research note on Monday, December 8th. Finally, B. Riley raised their target price on shares of WAVE Life Sciences from $19.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday. Twelve investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.07.

Insider Buying and Selling at WAVE Life Sciences

In other news, Director Mark Corrigan sold 16,115 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $13.48, for a total transaction of $217,230.20. Following the completion of the sale, the director directly owned 28,815 shares in the company, valued at $388,426.20. This represents a 35.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Chris Francis sold 441,031 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $14.57, for a total value of $6,425,821.67. Following the sale, the insider directly owned 25,000 shares of the company’s stock, valued at approximately $364,250. This trade represents a 94.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 902,742 shares of company stock worth $13,313,763. 23.98% of the stock is currently owned by company insiders.

WAVE Life Sciences Price Performance

NASDAQ WVE opened at $16.56 on Monday. The company has a market cap of $2.77 billion, a P/E ratio of -22.08 and a beta of -1.72. WAVE Life Sciences Ltd. has a 12 month low of $5.28 and a 12 month high of $21.73. The company has a 50-day moving average of $8.66 and a 200-day moving average of $8.06.

WAVE Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The company had revenue of $7.61 million for the quarter, compared to analyst estimates 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 research analysts anticipate 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.