WAVE Life Sciences Ltd. $WVE Stake Decreased by Intech Investment Management LLC

Intech Investment Management LLC cut its holdings in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) by 13.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,194 shares of the company’s stock after selling 10,499 shares during the period. Intech Investment Management LLC’s holdings in WAVE Life Sciences were worth $430,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in WVE. Invesco Ltd. boosted its position in WAVE Life Sciences by 97.2% during the 1st quarter. Invesco Ltd. now owns 78,880 shares of the company’s stock worth $637,000 after acquiring an additional 38,870 shares during the period. Strs Ohio bought a new stake in shares of WAVE Life Sciences during the first quarter valued at about $406,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of WAVE Life Sciences by 16.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,974 shares of the company’s stock valued at $339,000 after purchasing an additional 6,015 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in WAVE Life Sciences by 3.8% in the first quarter. Goldman Sachs Group Inc. now owns 557,644 shares of the company’s stock worth $4,506,000 after purchasing an additional 20,624 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its position in WAVE Life Sciences by 30.1% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 12,516,500 shares of the company’s stock valued at $101,133,000 after buying an additional 2,894,396 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WVE has been the subject of a number of research analyst reports. Canaccord Genuity Group initiated coverage on shares of WAVE Life Sciences in a research note on Monday, August 4th. They issued a “buy” rating and a $19.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $22.00 target price on shares of WAVE Life Sciences in a report on Wednesday, September 3rd. Wedbush increased their price target on WAVE Life Sciences from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, November 11th. Wells Fargo & Company lowered their price target on WAVE Life Sciences from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Finally, B. Riley restated a “buy” rating on shares of WAVE Life Sciences in a report on Thursday, September 4th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.

WAVE Life Sciences Stock Performance

NASDAQ WVE opened at $7.74 on Friday. WAVE Life Sciences Ltd. has a 1 year low of $5.28 and a 1 year high of $16.38. The business’s fifty day moving average is $7.45 and its two-hundred day moving average is $7.57. The stock has a market capitalization of $1.29 billion, a P/E ratio of -8.60 and a beta of -1.44.

WAVE Life Sciences (NASDAQ:WVE) last issued its earnings results on Monday, November 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The company had revenue of $7.61 million during the quarter, compared to analyst estimates of $9.85 million. On average, research analysts forecast that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Adrian Rawcliffe sold 16,115 shares of WAVE Life Sciences stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $6.79, for a total value of $109,420.85. Following the transaction, the director owned 12,700 shares of the company’s stock, valued at approximately $86,233. This trade represents a 55.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 23.98% of the company’s stock.

WAVE Life Sciences Profile

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.