Pictet Asset Management Holding SA Buys 343,226 Shares of WAVE Life Sciences Ltd. $WVE

Pictet Asset Management Holding SA raised its stake in WAVE Life Sciences Ltd. (NASDAQ:WVE) by 42.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,149,127 shares of the company’s stock after buying an additional 343,226 shares during the period. Pictet Asset Management Holding SA owned about 0.61% of WAVE Life Sciences worth $8,202,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. James J. Burns & Company LLC increased its stake in shares of WAVE Life Sciences by 8.5% in the first quarter. James J. Burns & Company LLC now owns 114,800 shares of the company’s stock worth $832,000 after buying an additional 8,998 shares during the period. Hsbc Holdings PLC increased its stake in shares of WAVE Life Sciences by 52.1% during the fourth quarter. Hsbc Holdings PLC now owns 16,990 shares of the company’s stock valued at $291,000 after buying an additional 5,823 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of WAVE Life Sciences during the fourth quarter valued at approximately $176,000. Virtu Financial LLC bought a new position in shares of WAVE Life Sciences during the fourth quarter valued at approximately $457,000. Finally, Invesco Ltd. lifted its stake in WAVE Life Sciences by 27.5% in the fourth quarter. Invesco Ltd. now owns 179,932 shares of the company’s stock worth $3,059,000 after acquiring an additional 38,806 shares during the period. 89.73% of the stock is owned by hedge funds and other institutional investors.

WAVE Life Sciences Price Performance

Shares of NASDAQ:WVE opened at $6.26 on Friday. The stock has a market capitalization of $1.20 billion, a PE ratio of -5.91 and a beta of -1.29. The firm’s 50 day moving average price is $6.36 and its 200-day moving average price is $10.45. WAVE Life Sciences Ltd. has a twelve month low of $5.02 and a twelve month high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last announced its earnings results on Wednesday, April 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $38.25 million during the quarter, compared to analyst estimates of $8.45 million. Analysts expect that WAVE Life Sciences Ltd. will post -1.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on WVE shares. Citigroup decreased their price target on shares of WAVE Life Sciences from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, May 4th. HC Wainwright restated a “buy” rating on shares of WAVE Life Sciences in a research note on Thursday, June 11th. New Street Research set a $13.00 price objective on WAVE Life Sciences in a research report on Thursday, June 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of WAVE Life Sciences in a research note on Monday, April 20th. Finally, Mizuho boosted their price target on WAVE Life Sciences from $22.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. Fourteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.41.

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.