Readystate Asset Management LP Invests $27.46 Million in WAVE Life Sciences Ltd. $WVE

Readystate Asset Management LP purchased a new stake in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) during the second quarter, Holdings Channel reports. The fund purchased 4,727,139 shares of the company’s stock, valued at approximately $27,465,000. WAVE Life Sciences accounts for approximately 0.9% of Readystate Asset Management LP’s investment portfolio, making the stock its 23rd largest position.

A number of other large investors have also recently bought and sold shares of WVE. CWM LLC raised its holdings in WAVE Life Sciences by 6,729.0% during the fourth quarter. CWM LLC now owns 2,117 shares of the company’s stock valued at $36,000 after buying an additional 2,086 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake 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. boosted its stake 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 increased 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 valued at $76,000 after acquiring an additional 3,609 shares during the last quarter. Finally, AlphaGrep UK Ltd acquired a new position in shares of WAVE Life Sciences during the 2nd quarter valued at about $78,000. 89.73% of the stock is currently owned by institutional investors.

Insider Activity at WAVE Life Sciences

In other WAVE Life Sciences news, Director Heidi L. Wagner sold 7,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $6.01, for a total value of $42,070.00. Following the sale, the director directly owned 44,930 shares in the company, valued at $270,029.30. This trade represents a 13.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Adrian Rawcliffe sold 12,700 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $5.29, for a total transaction of $67,183.00. The disclosure for this sale is available in the SEC filing. Insiders sold 23,564 shares of company stock valued at $132,476 over the last three months. 24.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on WAVE Life Sciences from $13.00 to $14.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. B. Riley Financial lowered their price target on WAVE Life Sciences from $31.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of WAVE Life Sciences in a report on Friday, July 17th. Zacks Research lowered shares of WAVE Life Sciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 19th. Finally, HC Wainwright restated a “buy” rating on shares of WAVE Life Sciences in a research note on Monday, August 3rd. Fourteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.31.

WAVE Life Sciences Stock Performance

NASDAQ WVE opened at $4.86 on Monday. WAVE Life Sciences Ltd. has a twelve month low of $4.64 and a twelve month high of $21.73. The stock has a market capitalization of $957.66 million, a PE ratio of -4.46 and a beta of -1.30. The stock has a 50-day simple moving average of $5.64 and a 200 day simple moving average of $7.52.

WAVE Life Sciences (NASDAQ:WVE) last released its earnings results on Thursday, July 30th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). The business had revenue of $2.27 million during the quarter, compared to analyst estimates of $7.45 million. WAVE Life Sciences had a negative net margin of 309.73% and a negative return on equity of 50.36%. As a group, equities research analysts forecast that WAVE Life Sciences Ltd. will post -1.11 EPS for the current fiscal year.

WAVE Life Sciences 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.