WAVE Life Sciences Ltd. $WVE Stake Raised by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. increased its holdings in WAVE Life Sciences Ltd. (NASDAQ:WVE) by 13.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 355,353 shares of the company’s stock after purchasing an additional 43,361 shares during the quarter. Platinum Investment Management Ltd. owned 0.23% of WAVE Life Sciences worth $2,310,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in WVE. Knott David M Jr bought a new stake in shares of WAVE Life Sciences in the 1st quarter worth approximately $81,000. Ascent Group LLC bought a new position in shares of WAVE Life Sciences in the first quarter valued at $83,000. Chicago Partners Investment Group LLC acquired a new stake in shares of WAVE Life Sciences during the first quarter worth $103,000. Ameriprise Financial Inc. acquired a new stake in shares of WAVE Life Sciences during the fourth quarter worth $129,000. Finally, Allostery Investments LP acquired a new stake in shares of WAVE Life Sciences during the first quarter worth $141,000. 89.73% of the stock is currently owned by institutional investors.

WAVE Life Sciences Stock Performance

WAVE Life Sciences stock opened at $7.03 on Thursday. The firm has a market cap of $1.12 billion, a PE ratio of -7.81 and a beta of -1.37. The firm’s 50 day moving average price is $8.26 and its two-hundred day moving average price is $7.49. WAVE Life Sciences Ltd. has a twelve month low of $5.28 and a twelve month high of $16.74.

WAVE Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Wednesday, July 30th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.02). The business had revenue of $8.70 million for the quarter, compared to analysts’ expectations of $11.52 million. Equities analysts anticipate that WAVE Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WVE. HC Wainwright restated a “buy” rating and set a $22.00 price objective on shares of WAVE Life Sciences in a report on Wednesday, September 3rd. Leerink Partners set a $26.00 price target on shares of WAVE Life Sciences in a report on Wednesday, September 3rd. Raymond James Financial assumed coverage on shares of WAVE Life Sciences in a report on Wednesday, June 11th. They set an “outperform” rating and a $14.00 price target on the stock. B. Riley reissued a “buy” rating on shares of WAVE Life Sciences in a research note on Thursday, September 4th. Finally, Wells Fargo & Company cut their target price on shares of WAVE Life Sciences from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, September 4th. Fourteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, WAVE Life Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $20.33.

Insider Transactions at WAVE Life Sciences

In other WAVE Life Sciences news, Director Gregory L. Verdine sold 10,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $10.00, for a total value of $100,000.00. Following the transaction, the director directly owned 285,217 shares of the company’s stock, valued at $2,852,170. This represents a 3.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Paul Bolno sold 217,351 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $10.10, for a total value of $2,195,245.10. Following the completion of the transaction, the chief executive officer owned 121,000 shares in the company, valued at $1,222,100. This represents a 64.24% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 241,893 shares of company stock valued at $2,423,068. 23.98% of the stock is currently owned by company insiders.

About WAVE Life Sciences

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.