Emerald Advisers LLC Sells 1,193,906 Shares of WAVE Life Sciences Ltd. $WVE

Emerald Advisers LLC cut its position in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) by 48.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,261,183 shares of the company’s stock after selling 1,193,906 shares during the period. Emerald Advisers LLC’s holdings in WAVE Life Sciences were worth $9,144,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in WVE. CWM LLC lifted its stake 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 buying an additional 2,086 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of WAVE Life Sciences by 645.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,243 shares of the company’s stock worth $38,000 after acquiring an additional 1,942 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of WAVE Life Sciences by 1,441.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company’s stock valued at $73,000 after purchasing an additional 9,284 shares during the last quarter. Tower Research Capital LLC TRC grew its position in WAVE Life Sciences by 44.8% in the second quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company’s stock valued at $76,000 after acquiring an additional 3,609 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new position in WAVE Life Sciences during the 2nd quarter worth approximately $80,000. Institutional investors own 89.73% of the company’s stock.

Analysts Set New Price Targets

WVE has been the subject of several research reports. Canaccord Genuity Group dropped their target price on WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of WAVE Life Sciences in a research note on Monday, April 20th. Bank of America reduced their price objective on WAVE Life Sciences from $38.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Mizuho boosted their target price on shares of WAVE Life Sciences from $22.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. Finally, Wells Fargo & Company increased their price target on WAVE Life Sciences from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Fourteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $26.41.

WAVE Life Sciences Trading Down 4.8%

WVE opened at $5.95 on Tuesday. The company has a market cap of $1.14 billion, a PE ratio of -5.61 and a beta of -1.29. WAVE Life Sciences Ltd. has a 12 month low of $5.02 and a 12 month high of $21.73. The company has a 50 day moving average of $6.25 and a 200 day moving average of $9.97.

WAVE Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating 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 company had revenue of $38.25 million for the quarter, compared to analyst estimates of $8.45 million. Research analysts forecast that WAVE Life Sciences Ltd. will post -1.1 earnings per share for the current fiscal year.

About WAVE Life Sciences

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.