Federated Hermes Inc. Has $27.46 Million Position in WAVE Life Sciences Ltd. $WVE

Federated Hermes Inc. boosted its holdings in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) by 678,144.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 3,750,693 shares of the company’s stock after acquiring an additional 3,750,140 shares during the period. Federated Hermes Inc. owned 2.36% of WAVE Life Sciences worth $27,455,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Virtus Investment Advisers LLC boosted its stake in WAVE Life Sciences by 10.2% during the 2nd quarter. Virtus Investment Advisers LLC now owns 13,060 shares of the company’s stock worth $85,000 after acquiring an additional 1,210 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in WAVE Life Sciences by 18.7% during the second quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company’s stock worth $74,000 after acquiring an additional 1,802 shares in the last quarter. Velan Capital Investment Management LP increased its holdings in shares of WAVE Life Sciences by 15.4% in the second quarter. Velan Capital Investment Management LP now owns 15,000 shares of the company’s stock worth $98,000 after acquiring an additional 2,000 shares in the last quarter. Matisse Capital raised its position in shares of WAVE Life Sciences by 17.9% during the third quarter. Matisse Capital now owns 13,193 shares of the company’s stock worth $97,000 after purchasing an additional 2,000 shares during the period. Finally, Teacher Retirement System of Texas lifted its holdings in shares of WAVE Life Sciences by 8.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 28,955 shares of the company’s stock valued at $188,000 after purchasing an additional 2,206 shares in the last quarter. Institutional investors own 89.73% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Citigroup lifted their price target on shares of WAVE Life Sciences from $16.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Royal Bank Of Canada upgraded WAVE Life Sciences from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $9.00 to $27.00 in a research note on Monday, December 8th. UBS Group set a $32.00 target price on shares of WAVE Life Sciences in a report on Tuesday, December 16th. Morgan Stanley set a $28.00 price objective on shares of WAVE Life Sciences in a research note on Monday, December 8th. Finally, Wells Fargo & Company upped their target price on WAVE Life Sciences from $16.00 to $29.00 and gave the stock an “overweight” rating in a report on Tuesday, December 9th. Thirteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.67.

WAVE Life Sciences Trading Down 0.5%

NASDAQ WVE opened at $12.94 on Friday. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -17.25 and a beta of -1.82. The company has a 50 day moving average of $14.03 and a 200-day moving average of $10.07. WAVE Life Sciences Ltd. has a 1-year low of $5.28 and a 1-year high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last issued its earnings results on Monday, November 10th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.02). WAVE Life Sciences had a negative net margin of 111.64% and a negative return on equity of 75.61%. The firm had revenue of $7.61 million during the quarter, compared to analyst estimates of $9.85 million. On average, equities research analysts forecast that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current year.

Insider Activity at WAVE Life Sciences

In other news, Director Adrian Rawcliffe sold 42,000 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $15.00, for a total transaction of $630,000.00. Following the completion of the transaction, the director directly owned 12,700 shares in the company, valued at $190,500. This trade represents a 76.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kyle Moran sold 210,000 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $14.77, for a total transaction of $3,101,700.00. Following the sale, the chief financial officer owned 89,218 shares of the company’s stock, valued at approximately $1,317,749.86. This trade represents a 70.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 912,117 shares of company stock valued at $13,464,044 in the last quarter. Insiders own 23.98% of the company’s stock.

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.