Bank of New York Mellon Corp lifted its holdings in Wave Life Sciences Ltd (NASDAQ:WVE) by 5.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,693 shares of the company’s stock after acquiring an additional 2,589 shares during the period. Bank of New York Mellon Corp owned approximately 0.18% of Wave Life Sciences worth $1,081,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. Swiss National Bank lifted its position in Wave Life Sciences by 60.0% during the second quarter. Swiss National Bank now owns 18,400 shares of the company’s stock worth $342,000 after purchasing an additional 6,900 shares during the period. California State Teachers Retirement System lifted its position in Wave Life Sciences by 43.8% during the second quarter. California State Teachers Retirement System now owns 21,009 shares of the company’s stock worth $391,000 after purchasing an additional 6,400 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Wave Life Sciences by 73.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 53,212 shares of the company’s stock worth $990,000 after purchasing an additional 22,505 shares during the period. Redmile Group LLC lifted its position in Wave Life Sciences by 75.0% during the second quarter. Redmile Group LLC now owns 2,224,407 shares of the company’s stock worth $41,374,000 after purchasing an additional 953,310 shares during the period. Finally, Mizuho Securities USA LLC bought a new stake in Wave Life Sciences during the third quarter worth about $1,088,000. Institutional investors and hedge funds own 73.74% of the company’s stock.
In other news, insider Chandra Vargeese sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $35.00, for a total value of $52,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ra Capital Management, Llc acquired 423,398 shares of the stock in a transaction dated Tuesday, November 14th. The stock was purchased at an average cost of $23.34 per share, with a total value of $9,882,109.32. The disclosure for this purchase can be found here. 53.00% of the stock is currently owned by corporate insiders.
Wave Life Sciences (NASDAQ:WVE) last posted its earnings results on Thursday, November 9th. The company reported ($0.94) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.03. The firm had revenue of $0.68 million during the quarter, compared to analysts’ expectations of $0.77 million. Wave Life Sciences had a negative net margin of 3,866.12% and a negative return on equity of 59.10%. equities research analysts forecast that Wave Life Sciences Ltd will post -3.76 EPS for the current fiscal year.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Leerink Swann reissued an “outperform” rating and issued a $53.00 target price (up previously from $42.00) on shares of Wave Life Sciences in a report on Wednesday, November 15th. BidaskClub cut shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a report on Tuesday. Mizuho set a $34.00 target price on shares of Wave Life Sciences and gave the stock a “buy” rating in a report on Saturday, October 21st. Finally, TheStreet raised shares of Wave Life Sciences from a “d+” rating to a “c-” rating in a report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $41.60.
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About Wave Life Sciences
WAVE Life Sciences Ltd. is a genetic medicines company. The Company, through its synthetic chemistry drug development platform, designs, develops and commercializes a pipeline of nucleic acid therapeutic candidates for genetically defined diseases. The Company is engaged in developing oligonucleotides that target genetic defects to either reduce the expression of disease-promoting proteins or transform the production of dysfunctional mutant proteins into the production of functional proteins.
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