Y Intercept Hong Kong Ltd Purchases Shares of 157,013 WAVE Life Sciences Ltd. $WVE

Y Intercept Hong Kong Ltd acquired a new stake in WAVE Life Sciences Ltd. (NASDAQ:WVE) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 157,013 shares of the company’s stock, valued at approximately $1,138,000. Y Intercept Hong Kong Ltd owned about 0.08% of WAVE Life Sciences at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. GSK plc acquired a new stake in shares of WAVE Life Sciences during the 4th quarter worth about $310,177,000. Darwin Global Management Ltd. bought a new position in WAVE Life Sciences in the 4th quarter valued at about $125,168,000. Price T Rowe Associates Inc. MD lifted its position in WAVE Life Sciences by 83.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,407,372 shares of the company’s stock worth $125,927,000 after acquiring an additional 3,362,880 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in shares of WAVE Life Sciences by 20.0% during the second quarter. Adage Capital Partners GP L.L.C. now owns 15,016,500 shares of the company’s stock worth $97,607,000 after acquiring an additional 2,500,000 shares during the period. Finally, Primecap Management Co. CA boosted its holdings in shares of WAVE Life Sciences by 115.7% during the fourth quarter. Primecap Management Co. CA now owns 4,095,282 shares of the company’s stock worth $69,620,000 after acquiring an additional 2,196,632 shares during the period. 89.73% of the stock is owned by institutional investors.

WAVE Life Sciences Stock Performance

Shares of NASDAQ WVE traded down $0.06 during midday trading on Friday, reaching $6.25. The company’s stock had a trading volume of 3,541,406 shares, compared to its average volume of 2,974,078. The company has a market cap of $1.20 billion, a P/E ratio of -5.90 and a beta of -1.29. The business’s 50 day moving average price is $6.27 and its two-hundred day moving average price is $10.11. WAVE Life Sciences Ltd. has a fifty-two week low of $5.02 and a fifty-two week high of $21.73.

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

Wall Street Analyst Weigh In

WVE has been the topic of a number of recent research reports. HC Wainwright reiterated a “buy” rating on shares of WAVE Life Sciences in a research note on Thursday, June 11th. Citigroup reduced their price target on WAVE Life Sciences from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, May 4th. Bank of America decreased their price objective on WAVE Life Sciences from $38.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, March 27th. Truist Financial initiated coverage on WAVE Life Sciences in a research report on Wednesday, April 29th. They set a “buy” rating and a $15.00 price objective on the stock. Finally, New Street Research set a $13.00 target price on WAVE Life Sciences in a report on Thursday, June 11th. Fourteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, WAVE Life Sciences presently 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.