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

Cinctive Capital Management LP lessened its position in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) by 60.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 110,537 shares of the company’s stock after selling 167,227 shares during the period. Cinctive Capital Management LP’s holdings in WAVE Life Sciences were worth $809,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of WVE. Adage Capital Partners GP L.L.C. raised its holdings in shares of 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 in the last quarter. 683 Capital Management LLC grew its stake in shares of WAVE Life Sciences by 4.5% during the second quarter. 683 Capital Management LLC now owns 4,100,000 shares of the company’s stock worth $26,650,000 after purchasing an additional 175,000 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of WAVE Life Sciences by 678,144.7% during the third quarter. Federated Hermes Inc. now owns 3,750,693 shares of the company’s stock worth $27,455,000 after purchasing an additional 3,750,140 shares in the last quarter. Loomis Sayles & Co. L P increased its holdings in WAVE Life Sciences by 35.3% in the second quarter. Loomis Sayles & Co. L P now owns 3,295,700 shares of the company’s stock valued at $21,422,000 after buying an additional 859,160 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in WAVE Life Sciences by 6.4% in the second quarter. Geode Capital Management LLC now owns 2,759,381 shares of the company’s stock valued at $17,938,000 after buying an additional 166,982 shares during the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

WAVE Life Sciences Stock Down 4.7%

Shares of NASDAQ WVE opened at $12.41 on Tuesday. The business has a 50-day moving average price of $13.60 and a 200 day moving average price of $11.10. The stock has a market cap of $2.34 billion, a PE ratio of -10.17 and a beta of -1.77. WAVE Life Sciences Ltd. has a 52-week low of $5.28 and a 52-week high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.02). The firm had revenue of $17.25 million for the quarter, compared to analyst estimates of $15.68 million. WAVE Life Sciences had a negative return on equity of 85.69% and a negative net margin of 478.35%. Sell-side analysts anticipate that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current year.

Insider Buying and Selling at WAVE Life Sciences

In related news, insider Chris Francis sold 33,194 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $15.05, for a total transaction of $499,569.70. Following the completion of the sale, the insider owned 61,867 shares in the company, valued at $931,098.35. This represents a 34.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kyle Moran sold 3,588 shares of WAVE Life Sciences stock in a transaction on Monday, February 9th. The shares were sold at an average price of $13.45, for a total transaction of $48,258.60. Following the completion of the transaction, the chief financial officer owned 134,385 shares in the company, valued at approximately $1,807,478.25. This represents a 2.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 61,748 shares of company stock valued at $907,809. Insiders own 23.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on WVE shares. Citigroup lifted their price target on WAVE Life Sciences from $16.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. UBS Group set a $32.00 price objective on WAVE Life Sciences in a report on Tuesday, December 16th. Truist Financial boosted their target price on WAVE Life Sciences from $36.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of WAVE Life Sciences in a report on Monday, March 2nd. Finally, B. Riley Financial increased their price target on shares of WAVE Life Sciences from $19.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, WAVE Life Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $33.73.

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.