Mirae Asset Global Investments Co. Ltd. Sells 51,130 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

Mirae Asset Global Investments Co. Ltd. reduced its holdings in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 59.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,523 shares of the company’s stock after selling 51,130 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Wave Life Sciences were worth $179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of WVE. TD Asset Management Inc bought a new position in shares of Wave Life Sciences during the third quarter valued at $935,000. Kraematon Investment Advisors Inc. bought a new position in Wave Life Sciences in the fourth quarter valued at about $237,000. Laurion Capital Management LP lifted its holdings in Wave Life Sciences by 5.1% in the third quarter. Laurion Capital Management LP now owns 871,500 shares of the company’s stock valued at $5,011,000 after acquiring an additional 42,662 shares during the period. SG Americas Securities LLC bought a new position in Wave Life Sciences in the third quarter valued at about $149,000. Finally, Jump Financial LLC bought a new position in Wave Life Sciences in the third quarter valued at about $135,000. 89.73% of the stock is owned by institutional investors.

Wave Life Sciences Price Performance

NASDAQ:WVE opened at $4.66 on Friday. The firm has a market capitalization of $569.82 million, a price-to-earnings ratio of -8.47 and a beta of -1.12. Wave Life Sciences Ltd. has a 1 year low of $3.15 and a 1 year high of $7.67. The business has a 50 day simple moving average of $5.54 and a 200-day simple moving average of $5.19.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results 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 the consensus estimate of $23.30 million. During the same period in the prior year, the business posted ($0.47) earnings per share. As a group, analysts expect that Wave Life Sciences Ltd. will post -0.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on WVE. Royal Bank of Canada reissued a “sector perform” rating and issued a $5.00 target price on shares of Wave Life Sciences in a report on Thursday, March 7th. StockNews.com cut Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 18th. Truist Financial reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Wave Life Sciences in a research note on Monday, April 1st. Finally, HC Wainwright raised their price objective on Wave Life Sciences from $8.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.14.

Insider Buying and Selling

In related news, CFO Kyle Moran sold 15,630 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 33,921 shares of the company’s stock, valued at approximately $209,292.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 31.10% of the stock is owned by corporate insiders.

Wave Life Sciences Company 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.