90,000 Shares in WAVE Life Sciences Ltd. $WVE Acquired by Prescott Group Capital Management L.L.C.

Prescott Group Capital Management L.L.C. purchased a new position in WAVE Life Sciences Ltd. (NASDAQ:WVE) during the fourth quarter, HoldingsChannel reports. The fund purchased 90,000 shares of the company’s stock, valued at approximately $1,530,000.

Several other hedge funds have also modified their holdings of WVE. CWM LLC raised its holdings in shares of WAVE Life Sciences by 6,729.0% during the 4th quarter. CWM LLC now owns 2,117 shares of the company’s stock worth $36,000 after acquiring an additional 2,086 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of WAVE Life Sciences by 1,156.3% during the 3rd quarter. Bessemer Group Inc. now owns 9,925 shares of the company’s stock worth $72,000 after acquiring an additional 9,135 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of WAVE Life Sciences by 1,441.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company’s stock worth $73,000 after acquiring an additional 9,284 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of WAVE Life Sciences by 44.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company’s stock worth $76,000 after acquiring an additional 3,609 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new stake in shares of WAVE Life Sciences during the 2nd quarter worth approximately $80,000. 89.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Chris Francis sold 33,194 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $15.05, for a total transaction of $499,569.70. Following the sale, the insider owned 61,867 shares in the company, valued at approximately $931,098.35. This represents a 34.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 24.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WVE. Wedbush upped their price objective on WAVE Life Sciences from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Mizuho upped their price objective on WAVE Life Sciences from $22.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. Truist Financial began coverage on WAVE Life Sciences in a report on Wednesday, April 29th. They set a “buy” rating and a $15.00 price objective on the stock. Canaccord Genuity Group decreased their price objective on WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Finally, Wall Street Zen raised WAVE Life Sciences from a “strong sell” rating to a “hold” rating in a report on Saturday, May 2nd. Fourteen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.25.

WAVE Life Sciences Stock Performance

NASDAQ:WVE opened at $6.19 on Thursday. The stock’s fifty day moving average is $8.37 and its 200 day moving average is $11.19. WAVE Life Sciences Ltd. has a fifty-two week low of $5.02 and a fifty-two week high of $21.73. The firm has a market capitalization of $1.19 billion, a PE ratio of -5.84 and a beta of -1.32.

WAVE Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Wednesday, April 29th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $38.25 million for the quarter, compared to analyst estimates of $8.45 million. Equities analysts forecast that WAVE Life Sciences Ltd. will post -1.16 EPS for the current year.

WAVE Life Sciences Company 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.