WAVE Life Sciences Ltd. $WVE Shares Sold by Elmind Capital LP

Elmind Capital LP trimmed its stake in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) by 60.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,846 shares of the company’s stock after selling 270,000 shares during the period. Elmind Capital LP owned 0.09% of WAVE Life Sciences worth $1,289,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in WVE. GSK plc acquired a new stake in shares of WAVE Life Sciences in the fourth quarter valued at approximately $310,177,000. Darwin Global Management Ltd. purchased a new position in shares of WAVE Life Sciences during the 4th quarter worth $125,168,000. Price T Rowe Associates Inc. MD increased its position in shares of WAVE Life Sciences by 83.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,407,372 shares of the company’s stock valued at $125,927,000 after acquiring an additional 3,362,880 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in WAVE Life Sciences by 20.0% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 15,016,500 shares of the company’s stock valued at $97,607,000 after purchasing an additional 2,500,000 shares during the last quarter. Finally, Primecap Management Co. CA raised its holdings in shares of WAVE Life Sciences by 115.7% in the 4th quarter. Primecap Management Co. CA now owns 4,095,282 shares of the company’s stock valued at $69,620,000 after buying an additional 2,196,632 shares during the period. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of WAVE Life Sciences from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Wall Street Zen raised WAVE Life Sciences from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Zacks Research upgraded WAVE Life Sciences from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. New Street Research set a $13.00 price target on WAVE Life Sciences in a research note on Thursday, June 11th. Finally, Truist Financial started coverage on WAVE Life Sciences in a research report on Wednesday, April 29th. They issued a “buy” rating and a $15.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.41.

WAVE Life Sciences Stock Up 1.9%

Shares of WVE opened at $5.92 on Tuesday. WAVE Life Sciences Ltd. has a fifty-two week low of $5.02 and a fifty-two week high of $21.73. The company’s fifty day moving average is $6.02 and its two-hundred day moving average is $9.19. The firm has a market cap of $1.14 billion, a PE ratio of -5.58 and a beta of -1.29.

WAVE Life Sciences (NASDAQ:WVE) last issued its earnings results on Wednesday, April 29th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.21. The firm had revenue of $38.25 million for the quarter, compared to analysts’ expectations of $8.45 million. WAVE Life Sciences had a negative return on equity of 56.76% and a negative net margin of 255.70%. As a group, equities research analysts anticipate that WAVE Life Sciences Ltd. will post -1.1 earnings per share 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.