Bank of New York Mellon Corp raised its position in shares of WAVE Life Sciences (NASDAQ:WVE) by 15.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,388 shares of the company’s stock after acquiring an additional 7,695 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.21% of WAVE Life Sciences worth $2,015,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in WVE. JPMorgan Chase & Co. purchased a new stake in shares of WAVE Life Sciences in the third quarter valued at approximately $2,634,000. Bailard Inc. purchased a new stake in shares of WAVE Life Sciences in the fourth quarter valued at approximately $2,773,000. State Street Corp grew its position in shares of WAVE Life Sciences by 26.6% in the second quarter. State Street Corp now owns 151,241 shares of the company’s stock valued at $2,815,000 after purchasing an additional 31,743 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of WAVE Life Sciences by 31.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 74,421 shares of the company’s stock valued at $2,613,000 after purchasing an additional 17,884 shares in the last quarter. Finally, State of Wisconsin Investment Board purchased a new stake in shares of WAVE Life Sciences in the fourth quarter valued at approximately $316,000. 79.38% of the stock is owned by institutional investors and hedge funds.
In other news, insider Michael A. Panzara sold 511 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $52.10, for a total transaction of $26,623.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Francis sold 21,639 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $55.40, for a total value of $1,198,800.60. The disclosure for this sale can be found here. Insiders sold 24,466 shares of company stock valued at $1,321,808 over the last quarter. 53.00% of the stock is currently owned by company insiders.
A number of equities research analysts have recently issued reports on WVE shares. Mizuho upped their price target on WAVE Life Sciences from $34.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, March 19th. Zacks Investment Research lowered WAVE Life Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, January 13th. BidaskClub upgraded WAVE Life Sciences from a “hold” rating to a “buy” rating in a research report on Tuesday, February 13th. SunTrust Banks increased their price objective on WAVE Life Sciences to $60.00 and gave the stock a “buy” rating in a research report on Friday, March 9th. Finally, Leerink Swann increased their price objective on WAVE Life Sciences from $53.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. WAVE Life Sciences currently has a consensus rating of “Buy” and a consensus price target of $53.40.
Shares of WAVE Life Sciences stock opened at $41.10 on Tuesday. The company has a market capitalization of $1,146.28, a P/E ratio of -10.64 and a beta of 0.69. WAVE Life Sciences has a fifty-two week low of $15.15 and a fifty-two week high of $55.95. The company has a quick ratio of 7.67, a current ratio of 7.67 and a debt-to-equity ratio of 0.02.
WAVE Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Monday, March 12th. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.09). The business had revenue of $1.68 million during the quarter, compared to analysts’ expectations of $0.63 million. WAVE Life Sciences had a negative return on equity of 66.73% and a negative net margin of 2,754.73%. equities research analysts predict that WAVE Life Sciences will post -3.6 EPS for the current year.
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WAVE Life Sciences Company Profile
Wave Life Sciences Ltd., a biotechnology company, designs, develops, and commercializes nucleic acid therapeutic candidates for genetically defined diseases by utilizing proprietary synthetic chemistry drug development platform. The company is primarily developing oligonucleotides that target genetic defects to either reduce the expression of disease-promoting proteins or transform the production of dysfunctional mutant proteins into the production of functional proteins.
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