Boone Capital Management LLC Invests $5.99 Million in WAVE Life Sciences Ltd. $WVE

Boone Capital Management LLC acquired 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 fund acquired 352,144 shares of the company’s stock, valued at approximately $5,986,000. WAVE Life Sciences comprises about 2.0% of Boone Capital Management LLC’s holdings, making the stock its 14th biggest holding. Boone Capital Management LLC owned about 0.21% of WAVE Life Sciences at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. GSK plc purchased a new stake in WAVE Life Sciences in the 4th quarter valued at $310,177,000. Adage Capital Partners GP L.L.C. increased its stake 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 valued at $97,607,000 after buying an additional 2,500,000 shares during the period. Price T Rowe Associates Inc. MD increased its stake in WAVE Life Sciences by 83.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,407,372 shares of the company’s stock valued at $125,927,000 after buying an additional 3,362,880 shares during the period. Darwin Global Management Ltd. acquired a new position in WAVE Life Sciences in the 4th quarter valued at $125,168,000. Finally, Federated Hermes Inc. grew its stake in shares of WAVE Life Sciences by 26.5% during the 4th quarter. Federated Hermes Inc. now owns 4,744,520 shares of the company’s stock worth $80,657,000 after purchasing an additional 993,827 shares during the period. Hedge funds and other institutional investors own 89.73% of the company’s stock.

WAVE Life Sciences Stock Up 3.7%

Shares of NASDAQ:WVE opened at $5.95 on Thursday. WAVE Life Sciences Ltd. has a 52-week low of $5.02 and a 52-week high of $21.73. The company has a 50 day moving average of $6.68 and a two-hundred day moving average of $10.99. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -5.61 and a beta of -1.33.

WAVE Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Wednesday, April 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.21. WAVE Life Sciences had a negative net margin of 255.70% and a negative return on equity of 56.76%. The company had revenue of $38.25 million during the quarter, compared to the consensus estimate of $8.45 million. On average, equities analysts anticipate that WAVE Life Sciences Ltd. will post -1.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WVE. Mizuho increased their price objective on shares of WAVE Life Sciences from $22.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, March 25th. Citigroup lowered their price objective on shares of WAVE Life Sciences from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Wells Fargo & Company increased their price objective on shares of WAVE Life Sciences from $13.00 to $14.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Truist Financial initiated coverage on shares of WAVE Life Sciences in a report on Wednesday, April 29th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Canaccord Genuity Group reduced their target price on shares of WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Fourteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, WAVE Life Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $26.41.

WAVE Life Sciences Company 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.