New York State Common Retirement Fund Decreases Stock Position in WAVE Life Sciences Ltd. $WVE

New York State Common Retirement Fund cut its position in WAVE Life Sciences Ltd. (NASDAQ:WVE) by 28.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,046 shares of the company’s stock after selling 43,467 shares during the period. New York State Common Retirement Fund owned 0.07% of WAVE Life Sciences worth $784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Virtus Investment Advisers LLC boosted its stake in WAVE Life Sciences by 10.2% during the 2nd quarter. Virtus Investment Advisers LLC now owns 13,060 shares of the company’s stock worth $85,000 after purchasing an additional 1,210 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of WAVE Life Sciences by 18.7% in the second quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company’s stock worth $74,000 after buying an additional 1,802 shares in the last quarter. Velan Capital Investment Management LP boosted its position in WAVE Life Sciences by 15.4% during the second quarter. Velan Capital Investment Management LP now owns 15,000 shares of the company’s stock worth $98,000 after acquiring an additional 2,000 shares during the last quarter. Matisse Capital grew its stake in WAVE Life Sciences by 17.9% during the 3rd quarter. Matisse Capital now owns 13,193 shares of the company’s stock valued at $97,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in WAVE Life Sciences by 8.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 28,955 shares of the company’s stock valued at $188,000 after acquiring an additional 2,206 shares during the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other WAVE Life Sciences news, Director Adrian Rawcliffe sold 42,000 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $15.00, for a total transaction of $630,000.00. Following the transaction, the director directly owned 12,700 shares in the company, valued at $190,500. This represents a 76.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Francis sold 441,031 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $14.57, for a total value of $6,425,821.67. Following the transaction, the insider owned 25,000 shares of the company’s stock, valued at approximately $364,250. This represents a 94.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 912,117 shares of company stock worth $13,464,044 in the last three months. 23.98% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Raymond James Financial restated an “outperform” rating and set a $21.00 target price on shares of WAVE Life Sciences in a report on Monday, December 8th. Citigroup boosted their price objective on WAVE Life Sciences from $16.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. Oppenheimer raised their target price on WAVE Life Sciences from $24.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 16th. Wells Fargo & Company boosted their price target on shares of WAVE Life Sciences from $16.00 to $29.00 and gave the company an “overweight” rating in a research report on Tuesday, December 9th. Finally, HC Wainwright raised their price objective on shares of WAVE Life Sciences from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Fourteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.69.

WAVE Life Sciences Trading Down 0.6%

Shares of WVE opened at $13.59 on Wednesday. The company’s 50-day moving average price is $14.87 and its 200 day moving average price is $10.36. WAVE Life Sciences Ltd. has a 12-month low of $5.28 and a 12-month high of $21.73. The firm has a market cap of $2.27 billion, a P/E ratio of -18.12 and a beta of -1.78.

WAVE Life Sciences (NASDAQ:WVE) last announced 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 company had revenue of $7.61 million for the quarter, compared to analyst estimates of $9.85 million. WAVE Life Sciences had a negative net margin of 111.64% and a negative return on equity of 75.61%. Equities research analysts forecast that WAVE Life Sciences Ltd. will post -1.14 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.