Wave Life Sciences Ltd. (NASDAQ:WVE) Shares Sold by Bellevue Group AG

Bellevue Group AG trimmed its holdings in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 8.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,094,458 shares of the company’s stock after selling 400,000 shares during the period. Bellevue Group AG owned approximately 3.34% of Wave Life Sciences worth $25,263,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of WVE. Ameritas Investment Partners Inc. grew its holdings in Wave Life Sciences by 50.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after acquiring an additional 2,451 shares during the period. Oxford Asset Management LLP acquired a new position in shares of Wave Life Sciences in the 4th quarter valued at $51,000. Tower Research Capital LLC TRC boosted its position in shares of Wave Life Sciences by 461.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,335 shares of the company’s stock valued at $57,000 after purchasing an additional 9,316 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of Wave Life Sciences by 351.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,456 shares of the company’s stock valued at $58,000 after purchasing an additional 8,920 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Wave Life Sciences in the 4th quarter valued at $64,000. 89.73% of the stock is owned by institutional investors and hedge funds.

Wave Life Sciences Stock Up 3.7 %

Shares of WVE traded up $0.23 during midday trading on Friday, reaching $6.53. 421,893 shares of the stock were exchanged, compared to its average volume of 809,978. Wave Life Sciences Ltd. has a 12-month low of $3.50 and a 12-month high of $7.67. The firm has a 50 day simple moving average of $5.83 and a 200-day simple moving average of $5.43. The company has a market cap of $799.76 million, a price-to-earnings ratio of -12.56 and a beta of -1.12.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The company had revenue of $12.54 million during the quarter, compared to analyst estimates of $25.67 million. During the same quarter last year, the firm earned ($0.27) earnings per share. Research analysts expect that Wave Life Sciences Ltd. will post -0.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on WVE shares. Mizuho reiterated an “outperform” rating and issued a $19.00 price target on shares of Wave Life Sciences in a research report on Tuesday, June 25th. Truist Financial restated a “buy” rating and set a $17.00 price objective on shares of Wave Life Sciences in a research report on Monday, April 1st. Wells Fargo & Company initiated coverage on Wave Life Sciences in a research report on Wednesday, May 15th. They set an “overweight” rating and a $11.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $15.00 price objective on shares of Wave Life Sciences in a research report on Wednesday, June 26th. Finally, StockNews.com downgraded Wave Life Sciences from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.17.

About Wave Life Sciences

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.