Affinity Asset Advisors LLC Trims Holdings in WAVE Life Sciences Ltd. $WVE

Affinity Asset Advisors LLC trimmed its holdings in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) by 48.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,401,727 shares of the company’s stock after selling 1,298,273 shares during the quarter. Affinity Asset Advisors LLC’s holdings in WAVE Life Sciences were worth $10,163,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. CWM LLC grew its holdings in shares of WAVE Life Sciences by 6,729.0% in the fourth 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 last quarter. Smartleaf Asset Management LLC lifted its holdings in WAVE Life Sciences by 645.2% during the 4th 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 in the last quarter. Russell Investments Group Ltd. lifted its holdings in WAVE Life Sciences by 1,441.6% during the 3rd 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 in the last quarter. Tower Research Capital LLC TRC boosted its position in WAVE Life Sciences by 44.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company’s stock valued at $76,000 after buying an additional 3,609 shares during the period. Finally, Prudential Financial Inc. purchased a new stake in WAVE Life Sciences in the 2nd quarter valued at about $80,000. 89.73% of the stock is owned by hedge funds and other institutional investors.

WAVE Life Sciences Stock Up 0.5%

Shares of WVE stock opened at $5.81 on Friday. The stock has a market cap of $1.12 billion, a PE ratio of -5.48 and a beta of -1.29. WAVE Life Sciences Ltd. has a 52-week low of $5.02 and a 52-week high of $21.73. The business has a 50-day simple moving average of $6.03 and a 200-day simple moving average of $9.30.

WAVE Life Sciences (NASDAQ:WVE) last posted its earnings results on Wednesday, April 29th. The company reported ($0.13) earnings per share 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 firm had revenue of $38.25 million during the quarter, compared to analyst estimates of $8.45 million. Sell-side analysts anticipate that WAVE Life Sciences Ltd. will post -1.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WVE. Wells Fargo & Company raised their target price on shares of WAVE Life Sciences from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Truist Financial initiated coverage on WAVE Life Sciences in a report on Wednesday, April 29th. They issued a “buy” rating and a $15.00 target price for the company. New Street Research set a $13.00 price target on WAVE Life Sciences in a research report on Thursday, June 11th. Zacks Research upgraded WAVE Life Sciences from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Finally, HC Wainwright restated a “buy” rating on shares of WAVE Life Sciences in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.41.

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.