State Board of Administration of Florida Retirement System bought a new position in shares of Wave Life Sciences Ltd (NASDAQ:WVE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,724 shares of the company’s stock, valued at approximately $334,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Barclays PLC raised its stake in Wave Life Sciences by 11.2% during the first quarter. Barclays PLC now owns 16,201 shares of the company’s stock worth $650,000 after buying an additional 1,627 shares during the last quarter. UBS Group AG raised its stake in Wave Life Sciences by 26.0% during the first quarter. UBS Group AG now owns 8,356 shares of the company’s stock worth $335,000 after buying an additional 1,723 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Wave Life Sciences during the first quarter worth $120,000. Rhumbline Advisers increased its stake in Wave Life Sciences by 50.0% in the second quarter. Rhumbline Advisers now owns 16,116 shares of the company’s stock valued at $616,000 after purchasing an additional 5,375 shares in the last quarter. Finally, California Public Employees Retirement System bought a new stake in Wave Life Sciences in the first quarter valued at $219,000. 83.43% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on WVE shares. BidaskClub raised shares of Wave Life Sciences from a “hold” rating to a “buy” rating in a research note on Wednesday, May 30th. ValuEngine raised shares of Wave Life Sciences from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. TheStreet downgraded shares of Wave Life Sciences from a “c-” rating to a “d+” rating in a research note on Thursday, May 31st. Mizuho set a $65.00 price target on shares of Wave Life Sciences and gave the company a “buy” rating in a research note on Friday, June 29th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $49.00 price target on shares of Wave Life Sciences in a research note on Monday, July 23rd. One analyst has rated the stock with a sell rating, five have issued a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $58.40.
In other news, insider Chris Francis sold 24,496 shares of Wave Life Sciences stock in a transaction dated Monday, July 9th. The shares were sold at an average price of $37.27, for a total transaction of $912,965.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 44.20% of the stock is owned by company insiders.
WVE opened at $50.10 on Friday. Wave Life Sciences Ltd has a 1-year low of $21.00 and a 1-year high of $55.95. The company has a quick ratio of 6.11, a current ratio of 6.11 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -13.47 and a beta of 0.96.
Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Thursday, August 9th. The company reported ($1.23) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.88). Wave Life Sciences had a negative net margin of 1,473.26% and a negative return on equity of 91.88%. The company had revenue of $4.88 million during the quarter, compared to the consensus estimate of $7.38 million. equities analysts predict that Wave Life Sciences Ltd will post -4.99 earnings per share for the current year.
About Wave Life Sciences
Wave Life Sciences Ltd., a biotechnology company, designs, develops, and commercializes nucleic acid therapeutic candidates for genetically defined diseases by utilizing proprietary synthetic chemistry drug development platform. The company is primarily developing oligonucleotides that target genetic defects to either reduce the expression of disease-promoting proteins or transform the production of dysfunctional mutant proteins into the production of functional proteins.
Further Reading: Book Value Per Share – BVPS
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