Seven Grand Managers LLC Purchases Shares of 100,000 WAVE Life Sciences Ltd. $WVE

Seven Grand Managers LLC purchased a new stake in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 100,000 shares of the company’s stock, valued at approximately $1,700,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WVE. CWM LLC grew its holdings in shares of WAVE Life Sciences by 6,729.0% during the 4th quarter. CWM LLC now owns 2,117 shares of the company’s stock worth $36,000 after acquiring an additional 2,086 shares during the period. Bessemer Group Inc. grew its holdings in shares of WAVE Life Sciences by 1,156.3% during the 3rd quarter. Bessemer Group Inc. now owns 9,925 shares of the company’s stock worth $72,000 after acquiring an additional 9,135 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of WAVE Life Sciences by 1,441.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company’s stock worth $73,000 after acquiring an additional 9,284 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of WAVE Life Sciences by 44.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company’s stock worth $76,000 after acquiring an additional 3,609 shares during the period. Finally, Prudential Financial Inc. purchased a new position in shares of WAVE Life Sciences during the 2nd quarter worth approximately $80,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

WAVE Life Sciences Stock Down 0.6%

WAVE Life Sciences stock opened at $6.34 on Thursday. The company has a market capitalization of $1.22 billion, a P/E ratio of -5.98 and a beta of -1.32. The stock’s 50 day moving average is $7.67 and its 200 day moving average is $11.12. 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 posted its quarterly earnings results on Wednesday, April 29th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.21. The company had revenue of $38.25 million for the quarter, compared to the consensus estimate 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, equities analysts expect that WAVE Life Sciences Ltd. will post -1.16 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on WVE. Wells Fargo & Company upped their target price on WAVE Life Sciences from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Wall Street Zen upgraded WAVE Life Sciences from a “strong sell” rating to a “hold” rating in a report on Saturday, May 2nd. Cantor Fitzgerald upped their target price on WAVE Life Sciences from $34.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. HC Wainwright reduced their target price on WAVE Life Sciences from $18.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Finally, Wedbush upped their target price on WAVE Life Sciences from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Fourteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.25.

WAVE Life Sciences Company Profile

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.