Voya Investment Management LLC Raises Stock Position in WAVE Life Sciences Ltd. $WVE

Voya Investment Management LLC boosted its position in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) by 736.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 258,011 shares of the company’s stock after acquiring an additional 227,167 shares during the period. Voya Investment Management LLC owned 0.16% of WAVE Life Sciences worth $1,889,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. increased its position in shares of WAVE Life Sciences by 77.8% during the second quarter. China Universal Asset Management Co. Ltd. now owns 93,370 shares of the company’s stock worth $607,000 after purchasing an additional 40,850 shares in the last quarter. Orion Porfolio Solutions LLC grew its stake in WAVE Life Sciences by 27.0% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 24,392 shares of the company’s stock worth $159,000 after buying an additional 5,182 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in 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 buying an additional 3,609 shares during the last quarter. Sofinnova Investments Inc. acquired a new position in WAVE Life Sciences during the 2nd quarter valued at about $766,000. Finally, Man Group plc purchased a new stake in WAVE Life Sciences in the second quarter valued at about $385,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.

WAVE Life Sciences Stock Performance

Shares of NASDAQ WVE opened at $17.77 on Monday. The company has a market capitalization of $2.97 billion, a PE ratio of -23.69 and a beta of -1.72. The company’s fifty day moving average price is $10.52 and its 200 day moving average price is $8.78. WAVE Life Sciences Ltd. has a 1 year low of $5.28 and a 1 year high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The business had revenue of $7.61 million during the quarter, compared to analyst estimates of $9.85 million. WAVE Life Sciences had a negative return on equity of 75.61% and a negative net margin of 111.64%. On average, equities analysts expect that WAVE Life Sciences Ltd. will post -1.14 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WVE. Royal Bank Of Canada upgraded WAVE Life Sciences from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $9.00 to $27.00 in a research note on Monday, December 8th. B. Riley lifted their target price on shares of WAVE Life Sciences from $19.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Leerink Partners restated an “outperform” rating on shares of WAVE Life Sciences in a research note on Monday, December 8th. Wedbush raised their price target on shares of WAVE Life Sciences from $20.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Finally, Wells Fargo & Company lifted their price objective on shares of WAVE Life Sciences from $16.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. Thirteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, WAVE Life Sciences currently has an average rating of “Moderate Buy” and an average price target of $31.67.

Insider Activity at WAVE Life Sciences

In other news, CFO Kyle Moran sold 50,036 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $20.03, for a total transaction of $1,002,221.08. Following the completion of the transaction, the chief financial officer directly owned 89,218 shares in the company, valued at approximately $1,787,036.54. This represents a 35.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Plc Gsk bought 1,470,000 shares of the stock in a transaction on Thursday, December 11th. The shares were bought at an average cost of $19.00 per share, with a total value of $27,930,000.00. Following the purchase, the insider owned 18,245,691 shares of the company’s stock, valued at $346,668,129. This trade represents a 8.76% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 902,742 shares of company stock worth $13,313,763 over the last 90 days. Corporate insiders own 23.98% of the company’s stock.

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.