Y Intercept Hong Kong Ltd Buys Shares of 157,013 WAVE Life Sciences Ltd. $WVE

Y Intercept Hong Kong Ltd bought a new stake in WAVE Life Sciences Ltd. (NASDAQ:WVE) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 157,013 shares of the company’s stock, valued at approximately $1,138,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Deutsche Bank AG boosted its position in shares of WAVE Life Sciences by 1.5% during the 4th quarter. Deutsche Bank AG now owns 95,706 shares of the company’s stock worth $1,627,000 after acquiring an additional 1,441 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in WAVE Life Sciences by 645.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,243 shares of the company’s stock worth $38,000 after purchasing an additional 1,942 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in WAVE Life Sciences by 32.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,124 shares of the company’s stock worth $138,000 after purchasing an additional 1,972 shares during the last quarter. CWM LLC boosted its holdings in shares of WAVE Life Sciences by 6,729.0% in the 4th quarter. CWM LLC now owns 2,117 shares of the company’s stock valued at $36,000 after purchasing an additional 2,086 shares in the last quarter. Finally, Nebula Research & Development LLC boosted its holdings in shares of WAVE Life Sciences by 8.7% in the 2nd quarter. Nebula Research & Development LLC now owns 34,342 shares of the company’s stock valued at $223,000 after purchasing an additional 2,748 shares in the last quarter. Institutional investors own 89.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on WVE shares. Wall Street Zen raised WAVE Life Sciences from a “strong sell” rating to a “hold” rating in a report on Saturday, May 2nd. Citigroup lowered their target price on WAVE Life Sciences from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, May 4th. Wells Fargo & Company raised their price target on shares of WAVE Life Sciences from $13.00 to $14.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Truist Financial initiated coverage on shares of WAVE Life Sciences in a research report on Wednesday, April 29th. They set a “buy” rating and a $15.00 price objective for the company. Finally, Canaccord Genuity Group lowered their price target on shares of WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Fourteen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.41.

WAVE Life Sciences Price Performance

Shares of NASDAQ:WVE traded down $0.06 during midday trading on Friday, hitting $6.25. 3,541,406 shares of the company’s stock were exchanged, compared to its average volume of 2,974,078. The company has a market cap of $1.20 billion, a PE ratio of -5.90 and a beta of -1.29. The stock has a 50 day moving average price of $6.27 and a 200-day moving average price of $10.11. WAVE Life Sciences Ltd. has a 12 month low of $5.02 and a 12 month high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last posted its earnings results on Wednesday, April 29th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate 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 net margin of 255.70% and a negative return on equity of 56.76%. On average, analysts anticipate that WAVE Life Sciences Ltd. will post -1.1 EPS for the current fiscal year.

About WAVE Life Sciences

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.