683 Capital Management LLC Lowers Holdings in WAVE Life Sciences Ltd. $WVE

683 Capital Management LLC lowered its stake in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) by 3.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,015,000 shares of the company’s stock after selling 135,000 shares during the period. WAVE Life Sciences makes up approximately 3.0% of 683 Capital Management LLC’s holdings, making the stock its biggest position. 683 Capital Management LLC’s holdings in WAVE Life Sciences were worth $68,255,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of WVE. GSK plc bought a new position in WAVE Life Sciences during the 4th quarter valued at about $310,177,000. Darwin Global Management Ltd. bought a new position in shares of WAVE Life Sciences in the 4th quarter worth approximately $125,168,000. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 worth $125,927,000 after purchasing an additional 3,362,880 shares during the period. Adage Capital Partners GP L.L.C. lifted its stake in shares of 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 worth $97,607,000 after purchasing an additional 2,500,000 shares during the period. Finally, Primecap Management Co. CA lifted its stake in shares of WAVE Life Sciences by 115.7% in the 4th quarter. Primecap Management Co. CA now owns 4,095,282 shares of the company’s stock worth $69,620,000 after purchasing an additional 2,196,632 shares during the period. Institutional investors own 89.73% of the company’s stock.

WAVE Life Sciences Price Performance

Shares of WVE opened at $5.95 on Thursday. WAVE Life Sciences Ltd. has a 1 year low of $5.02 and a 1 year high of $21.73. The company has a 50 day simple moving average of $6.68 and a two-hundred day simple moving average of $10.99. The firm has a market cap of $1.14 billion, a P/E ratio of -5.61 and a beta of -1.33.

WAVE Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $38.25 million during the quarter, compared to analyst estimates of $8.45 million. On average, sell-side analysts anticipate that WAVE Life Sciences Ltd. will post -1.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WVE. Wall Street Zen upgraded shares of WAVE Life Sciences from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Wedbush raised their target price on shares of WAVE Life Sciences from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. 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 note on Wednesday, May 20th. Weiss Ratings restated a “sell (d-)” rating on shares of WAVE Life Sciences in a research note on Monday, April 20th. Finally, Canaccord Genuity Group decreased 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 research note on Thursday, April 30th. Fourteen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.