Emerald Mutual Fund Advisers Trust Cuts Stake in WAVE Life Sciences Ltd. $WVE

Emerald Mutual Fund Advisers Trust reduced its position in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) by 42.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 814,529 shares of the company’s stock after selling 600,136 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in WAVE Life Sciences were worth $5,905,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Chicago Partners Investment Group LLC bought a new position in shares of WAVE Life Sciences in the first quarter worth approximately $124,000. Capstone Capital Management Ltd bought a new stake in shares of WAVE Life Sciences during the first quarter valued at approximately $1,044,000. Private Advisor Group LLC bought a new stake in shares of WAVE Life Sciences during the first quarter valued at approximately $160,000. Y Intercept Hong Kong Ltd purchased a new position in WAVE Life Sciences in the 1st quarter worth approximately $1,138,000. Finally, Pictet Asset Management Holding SA raised its holdings in WAVE Life Sciences by 42.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,149,127 shares of the company’s stock worth $8,202,000 after acquiring an additional 343,226 shares during the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

WAVE Life Sciences Trading Down 4.8%

NASDAQ:WVE opened at $5.95 on Tuesday. The company has a market cap of $1.14 billion, a PE ratio of -5.61 and a beta of -1.29. The company has a 50 day simple moving average of $6.25 and a two-hundred day simple moving average of $9.97. WAVE Life Sciences Ltd. has a 12 month low of $5.02 and a 12 month high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Wednesday, April 29th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.21. The firm had revenue of $38.25 million for the quarter, compared to analysts’ expectations of $8.45 million. WAVE Life Sciences had a negative return on equity of 56.76% and a negative net margin of 255.70%. Research analysts forecast that WAVE Life Sciences Ltd. will post -1.1 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on WVE shares. Wall Street Zen upgraded WAVE Life Sciences from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of WAVE Life Sciences in a research note on Monday, April 20th. Truist Financial initiated coverage on WAVE Life Sciences in a report on Wednesday, April 29th. They set a “buy” rating and a $15.00 price target on the stock. Mizuho increased their price objective on WAVE Life Sciences from $22.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, March 25th. Finally, Citigroup reduced their price objective on WAVE Life Sciences from $30.00 to $24.00 and set a “buy” rating for the company in a report on Monday, May 4th. Fourteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.41.

WAVE Life Sciences 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.