Emerald Mutual Fund Advisers Trust Has $17.41 Million Stock Holdings in Wave Life Sciences Ltd. (NASDAQ:WVE)

Emerald Mutual Fund Advisers Trust boosted its position in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 16.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,123,466 shares of the company’s stock after purchasing an additional 302,528 shares during the period. Emerald Mutual Fund Advisers Trust owned 1.73% of Wave Life Sciences worth $17,412,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Wave Life Sciences by 23.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock worth $37,000 after purchasing an additional 856 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Wave Life Sciences by 50.2% in the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after purchasing an additional 2,451 shares in the last quarter. Profund Advisors LLC acquired a new position in Wave Life Sciences during the second quarter worth $53,000. Principal Financial Group Inc. bought a new position in Wave Life Sciences during the second quarter valued at about $74,000. Finally, Mackenzie Financial Corp lifted its position in shares of Wave Life Sciences by 13.6% in the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after buying an additional 1,905 shares during the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Insiders Place Their Bets

In other Wave Life Sciences news, major shareholder Plc Gsk bought 2,791,930 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the purchase, the insider now directly owns 16,775,691 shares in the company, valued at $134,205,528. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, major shareholder Plc Gsk purchased 2,791,930 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the purchase, the insider now directly owns 16,775,691 shares in the company, valued at $134,205,528. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Chris Francis sold 208,836 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $13.67, for a total value of $2,854,788.12. The disclosure for this sale can be found here. Insiders have sold 364,822 shares of company stock worth $4,645,768 over the last 90 days. Corporate insiders own 29.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on WVE shares. Wells Fargo & Company increased their price objective on Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. B. Riley lifted their price target on shares of Wave Life Sciences from $11.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. upped their price objective on shares of Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Leerink Partners boosted their target price on shares of Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a research report on Thursday. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.44.

Wave Life Sciences Stock Performance

NASDAQ WVE opened at $13.83 on Friday. Wave Life Sciences Ltd. has a twelve month low of $3.50 and a twelve month high of $15.92. The stock has a market cap of $1.73 billion, a PE ratio of -24.26 and a beta of -1.20. The firm has a 50-day simple moving average of $8.87 and a 200 day simple moving average of $6.83.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The firm had revenue of $19.69 million during the quarter, compared to the consensus estimate of $24.80 million. Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. During the same quarter in the prior year, the business posted ($0.20) EPS. Research analysts forecast that Wave Life Sciences Ltd. will post -1.01 earnings per share for the current fiscal year.

Wave Life Sciences Company 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.