Emerald Mutual Fund Advisers Trust Sells 600,136 Shares of WAVE Life Sciences Ltd. $WVE

Emerald Mutual Fund Advisers Trust reduced its stake in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) by 42.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 814,529 shares of the company’s stock after selling 600,136 shares during the quarter. Emerald Mutual Fund Advisers Trust owned approximately 0.42% of WAVE Life Sciences worth $5,905,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. CWM LLC lifted its position in shares of WAVE Life Sciences by 6,729.0% in the 4th quarter. CWM LLC now owns 2,117 shares of the company’s stock worth $36,000 after purchasing an additional 2,086 shares during the period. Smartleaf Asset Management LLC increased its position in shares of WAVE Life Sciences by 645.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,243 shares of the company’s stock valued at $38,000 after buying an additional 1,942 shares during the period. Russell Investments Group Ltd. increased its position in shares of WAVE Life Sciences by 1,441.6% during the third quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company’s stock valued at $73,000 after buying an additional 9,284 shares during the period. Tower Research Capital LLC TRC raised its stake in WAVE Life Sciences by 44.8% in 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. Finally, Prudential Financial Inc. bought a new position in WAVE Life Sciences in the second quarter worth about $80,000. 89.73% of the stock is currently owned by institutional investors.

WAVE Life Sciences Stock Down 4.8%

Shares of WVE opened at $5.95 on Tuesday. The business’s 50 day moving average price is $6.25 and its 200-day moving average price is $9.97. WAVE Life Sciences Ltd. has a 52 week low of $5.02 and a 52 week high of $21.73. The stock has a market cap of $1.14 billion, a P/E ratio of -5.61 and a beta of -1.29.

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

Analyst Ratings Changes

WVE has been the topic of several research reports. Mizuho lifted their price objective on WAVE Life Sciences from $22.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, March 25th. Canaccord Genuity Group decreased their target price on WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Wells Fargo & Company raised their target price on WAVE Life Sciences from $13.00 to $14.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Bank of America dropped their price target on WAVE Life Sciences from $38.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Finally, Truist Financial started coverage on WAVE Life Sciences in a research report on Wednesday, April 29th. They set a “buy” rating and a $15.00 price target on the stock. Fourteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $26.41.

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.