500,000 Shares in WAVE Life Sciences Ltd. $WVE Acquired by Eventide Asset Management LLC

Eventide Asset Management LLC bought a new position in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 500,000 shares of the company’s stock, valued at approximately $8,500,000. Eventide Asset Management LLC owned 0.30% of WAVE Life Sciences at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of WVE. Pictet Asset Management Holding SA raised its position in WAVE Life Sciences by 5,024.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 805,901 shares of the company’s stock valued at $13,830,000 after purchasing an additional 790,175 shares during the last quarter. GSA Capital Partners LLP bought a new position in WAVE Life Sciences in the 3rd quarter valued at $375,000. F m Investments LLC raised its position in WAVE Life Sciences by 24.5% in the 4th quarter. F m Investments LLC now owns 395,894 shares of the company’s stock valued at $6,730,000 after purchasing an additional 77,807 shares during the last quarter. Prescott Group Capital Management L.L.C. bought a new position in WAVE Life Sciences in the 4th quarter valued at $1,530,000. Finally, Knott David M Jr raised its position in WAVE Life Sciences by 125.0% in the 3rd quarter. Knott David M Jr now owns 90,000 shares of the company’s stock valued at $659,000 after purchasing an additional 50,000 shares during the last quarter. Institutional investors own 89.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WVE. Bank of America cut their price objective on WAVE Life Sciences from $38.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, March 27th. Wedbush lifted their price objective on WAVE Life Sciences from $33.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Wells Fargo & Company lifted their price objective on WAVE Life Sciences from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Wall Street Zen upgraded WAVE Life Sciences from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, New Street Research set a $13.00 price objective on WAVE Life Sciences in a research report on Thursday. Fourteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.41.

WAVE Life Sciences Stock Performance

NASDAQ WVE opened at $5.87 on Monday. The stock has a 50-day simple moving average of $6.76 and a 200 day simple moving average of $11.03. The company has a market capitalization of $1.13 billion, a PE ratio of -5.54 and a beta of -1.33. WAVE Life Sciences Ltd. has a 12 month low of $5.02 and a 12 month high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.21. The business had revenue of $38.25 million during the quarter, compared to the consensus estimate of $8.45 million. WAVE Life Sciences had a negative return on equity of 56.76% and a negative net margin of 255.70%. As a group, sell-side analysts predict that WAVE Life Sciences Ltd. will post -1.16 earnings per share for the current fiscal year.

WAVE Life Sciences Profile

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.