Mitsubishi UFJ Asset Management Co. Ltd. Boosts Position in WAVE Life Sciences Ltd. (NASDAQ:WVE)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) by 9.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,673 shares of the company’s stock after acquiring an additional 1,564 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in WAVE Life Sciences were worth $151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC bought a new position in WAVE Life Sciences during the 1st quarter worth about $103,000. Charles Schwab Investment Management Inc. grew its holdings in WAVE Life Sciences by 5.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 963,125 shares of the company’s stock worth $7,782,000 after acquiring an additional 48,656 shares in the last quarter. Vanguard Group Inc. grew its holdings in WAVE Life Sciences by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 3,206,403 shares of the company’s stock worth $25,908,000 after acquiring an additional 23,891 shares in the last quarter. Privium Fund Management B.V. grew its holdings in WAVE Life Sciences by 29.0% during the 1st quarter. Privium Fund Management B.V. now owns 113,550 shares of the company’s stock worth $917,000 after acquiring an additional 25,550 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in WAVE Life Sciences during the 1st quarter worth about $225,000. 89.73% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Christian O. Henry sold 9,670 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $8.81, for a total transaction of $85,192.70. Following the transaction, the director owned 29,645 shares of the company’s stock, valued at approximately $261,172.45. The trade was a 24.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ken Takanashi sold 4,872 shares of the company’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $8.75, for a total transaction of $42,630.00. Following the completion of the transaction, the director directly owned 5,716,303 shares in the company, valued at $50,017,651.25. The trade was a 0.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,542 shares of company stock valued at $336,323. 23.98% of the stock is currently owned by insiders.

WAVE Life Sciences Trading Up 1.7%

Shares of WVE stock opened at $8.91 on Friday. The company’s 50-day moving average price is $7.62 and its 200-day moving average price is $8.13. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of -9.90 and a beta of -0.95. WAVE Life Sciences Ltd. has a twelve month low of $5.04 and a twelve month high of $16.74.

WAVE Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Wednesday, July 30th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.02). The firm had revenue of $8.70 million for the quarter, compared to analysts’ expectations of $11.52 million. As a group, equities research analysts predict that WAVE Life Sciences Ltd. will post -1.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on WVE shares. Wall Street Zen cut shares of WAVE Life Sciences from a “hold” rating to a “sell” rating in a report on Friday, May 9th. Citigroup started coverage on shares of WAVE Life Sciences in a report on Wednesday, July 16th. They issued a “buy” rating and a $16.00 price target on the stock. Canaccord Genuity Group started coverage on shares of WAVE Life Sciences in a research report on Monday, August 4th. They issued a “buy” rating and a $19.00 price objective on the stock. Raymond James Financial started coverage on shares of WAVE Life Sciences in a research report on Wednesday, June 11th. They issued an “outperform” rating and a $14.00 price objective on the stock. Finally, Wells Fargo & Company cut their price objective on shares of WAVE Life Sciences from $24.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.27.

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.