Pictet Asset Management Holding SA Grows Position in WAVE Life Sciences Ltd. $WVE

Pictet Asset Management Holding SA grew its holdings in WAVE Life Sciences Ltd. (NASDAQ:WVE) by 5,024.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 805,901 shares of the company’s stock after buying an additional 790,175 shares during the quarter. Pictet Asset Management Holding SA’s holdings in WAVE Life Sciences were worth $13,830,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC increased its position 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 valued at $36,000 after buying an additional 2,086 shares in the last quarter. Bessemer Group Inc. increased its position in shares of WAVE Life Sciences by 1,156.3% in the third quarter. Bessemer Group Inc. now owns 9,925 shares of the company’s stock valued at $72,000 after buying an additional 9,135 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of WAVE Life Sciences by 1,441.6% in 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 in the last quarter. Tower Research Capital LLC TRC increased its position in shares of 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 valued at $76,000 after buying an additional 3,609 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new stake in shares of WAVE Life Sciences in the second quarter valued at approximately $80,000. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at WAVE Life Sciences

In other news, CEO Paul Bolno sold 10,480 shares of WAVE Life Sciences stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $13.45, for a total value of $140,956.00. Following the sale, the chief executive officer directly owned 275,520 shares of the company’s stock, valued at $3,705,744. The trade was a 3.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chandra Vargeese sold 3,228 shares of WAVE Life Sciences stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $13.45, for a total value of $43,416.60. Following the completion of the sale, the insider directly owned 408,246 shares in the company, valued at $5,490,908.70. This represents a 0.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 52,373 shares of company stock valued at $757,527. Insiders own 23.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Cantor Fitzgerald boosted their price objective on WAVE Life Sciences from $34.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Canaccord Genuity Group cut their price objective on WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday. Wall Street Zen upgraded WAVE Life Sciences from a “strong sell” rating to a “hold” rating in a research report on Saturday. 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. Finally, Wedbush boosted 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. Fourteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, WAVE Life Sciences has a consensus rating of “Moderate Buy” and an average price target of $27.88.

WAVE Life Sciences Price Performance

Shares of NASDAQ:WVE opened at $7.32 on Friday. The business’s 50 day moving average price is $10.03 and its 200-day moving average price is $11.21. The firm has a market capitalization of $1.38 billion, a PE ratio of -6.91 and a beta of -1.32. WAVE Life Sciences Ltd. has a 1 year low of $5.02 and a 1 year high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Tuesday, April 28th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.21. The firm had revenue of $38.25 million for the quarter, compared to analyst estimates 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, analysts expect that WAVE Life Sciences Ltd. will post -1.2 earnings per share for the current year.

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.