Mirae Asset Global Investments Co. Ltd. Has $37,000 Stock Position in Wave Life Sciences Ltd. (NASDAQ:WVE)

Mirae Asset Global Investments Co. Ltd. lifted its stake in Wave Life Sciences Ltd. (NASDAQ:WVE) by 23.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,512 shares of the company’s stock after acquiring an additional 856 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Wave Life Sciences were worth $37,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of WVE. Artal Group S.A. lifted its position in Wave Life Sciences by 34.7% in the first quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock worth $24,997,000 after purchasing an additional 1,044,000 shares during the period. Emerald Advisers LLC bought a new position in Wave Life Sciences in the second quarter worth $12,441,000. Price T Rowe Associates Inc. MD lifted its position in Wave Life Sciences by 14.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,861,254 shares of the company’s stock worth $11,485,000 after purchasing an additional 233,891 shares during the period. Vanguard Group Inc. lifted its position in Wave Life Sciences by 39.7% in the first quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock worth $11,316,000 after purchasing an additional 521,665 shares during the period. Finally, Emerald Mutual Fund Advisers Trust bought a new position in Wave Life Sciences in the second quarter worth $9,086,000. Institutional investors and hedge funds own 89.73% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Leerink Partners lifted their price objective on Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. B. Riley lifted their price objective on Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a report on Monday. HC Wainwright reissued a “buy” rating and set a $22.00 price objective on shares of Wave Life Sciences in a report on Thursday, October 31st. Finally, Royal Bank of Canada lifted their price objective on Wave Life Sciences from $7.00 to $15.00 and gave the company a “sector perform” rating in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.78.

Wave Life Sciences Stock Up 0.4 %

Shares of WVE stock opened at $13.84 on Wednesday. The stock has a 50-day moving average price of $9.20 and a 200 day moving average price of $6.97. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -24.28 and a beta of -1.20. Wave Life Sciences Ltd. has a 12 month low of $3.50 and a 12 month high of $15.92.

Wave Life Sciences (NASDAQ:WVE) last posted its earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The company had revenue of $19.69 million for the quarter, compared to analyst estimates of $24.80 million. Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. During the same quarter in the previous year, the firm posted ($0.20) earnings per share. Sell-side analysts predict that Wave Life Sciences Ltd. will post -1.01 earnings per share for the current fiscal year.

Insider Transactions at Wave Life Sciences

In other news, CEO Paul Bolno sold 90,474 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $15.00, for a total transaction of $1,357,110.00. Following the completion of the transaction, the chief executive officer now directly owns 268,585 shares in the company, valued at approximately $4,028,775. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Paul Bolno sold 90,474 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $15.00, for a total value of $1,357,110.00. Following the completion of the transaction, the chief executive officer now directly owns 268,585 shares in the company, valued at approximately $4,028,775. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Francis sold 208,836 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $13.67, for a total value of $2,854,788.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 364,822 shares of company stock worth $4,645,768. 29.10% of the stock is currently owned by company insiders.

About Wave Life Sciences

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.