Arizona State Retirement System Takes Position in Wave Life Sciences Ltd. (NASDAQ:WVE)

Arizona State Retirement System bought a new stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 17,943 shares of the company’s stock, valued at approximately $91,000.

A number of other institutional investors have also recently added to or reduced their stakes in WVE. China Universal Asset Management Co. Ltd. increased its stake in Wave Life Sciences by 351.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,456 shares of the company’s stock worth $58,000 after buying an additional 8,920 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Wave Life Sciences by 33.6% during the fourth quarter. SG Americas Securities LLC now owns 34,562 shares of the company’s stock worth $175,000 after purchasing an additional 8,694 shares in the last quarter. Wellington Management Group LLP raised its stake in Wave Life Sciences by 4.3% in the 3rd quarter. Wellington Management Group LLP now owns 264,885 shares of the company’s stock valued at $1,523,000 after purchasing an additional 10,830 shares during the last quarter. Newtyn Management LLC lifted its holdings in Wave Life Sciences by 2.0% in the 3rd quarter. Newtyn Management LLC now owns 510,000 shares of the company’s stock valued at $2,932,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Kraematon Investment Advisors Inc. acquired a new stake in Wave Life Sciences during the 4th quarter worth $237,000. Institutional investors and hedge funds own 89.73% of the company’s stock.

Wave Life Sciences Stock Performance

Shares of Wave Life Sciences stock opened at $4.84 on Tuesday. Wave Life Sciences Ltd. has a fifty-two week low of $3.15 and a fifty-two week high of $7.67. The firm has a market capitalization of $591.84 million, a price-to-earnings ratio of -8.80 and a beta of -1.13. The stock has a 50 day moving average of $5.45 and a 200 day moving average of $5.21.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Wednesday, March 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.04. The business had revenue of $29.06 million for the quarter, compared to analyst estimates of $23.30 million. During the same period in the previous year, the business posted ($0.47) earnings per share. Analysts forecast that Wave Life Sciences Ltd. will post -0.94 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on WVE. StockNews.com downgraded shares of Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 18th. HC Wainwright upped their price target on Wave Life Sciences from $8.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Truist Financial reiterated a “buy” rating and set a $17.00 price objective on shares of Wave Life Sciences in a research report on Monday, April 1st. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $5.00 target price on shares of Wave Life Sciences in a report on Thursday, March 7th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.14.

Insider Activity

In other Wave Life Sciences news, CFO Kyle Moran sold 15,630 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $6.17, for a total transaction of $96,437.10. Following the transaction, the chief financial officer now directly owns 33,921 shares in the company, valued at $209,292.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 31.10% of the company’s stock.

Wave Life Sciences Profile

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.