EcoR1 Capital LLC Acquires Shares of 10,000 WAVE Life Sciences Ltd. (WVE)

EcoR1 Capital LLC acquired a new position in WAVE Life Sciences Ltd. (NASDAQ:WVE) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 10,000 shares of the company’s stock, valued at approximately $275,000.

Other hedge funds have also modified their holdings of the company. Schwab Charles Investment Management Inc. increased its position in WAVE Life Sciences by 6.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 30,707 shares of the company’s stock valued at $845,000 after buying an additional 1,881 shares in the last quarter. Geode Capital Management LLC increased its position in WAVE Life Sciences by 4.6% in the first quarter. Geode Capital Management LLC now owns 76,478 shares of the company’s stock valued at $2,103,000 after buying an additional 3,397 shares in the last quarter. Vanguard Group Inc. increased its position in WAVE Life Sciences by 5.2% in the first quarter. Vanguard Group Inc. now owns 153,781 shares of the company’s stock valued at $4,229,000 after buying an additional 7,550 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in WAVE Life Sciences during the first quarter valued at $835,000. Finally, MARSHALL WACE ASIA Ltd purchased a new position in WAVE Life Sciences during the first quarter valued at $835,000. 56.84% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for WAVE Life Sciences (NASDAQ:WVE)

WAVE Life Sciences Ltd. (NASDAQ:WVE) traded up 7.69% during midday trading on Friday, reaching $21.00. The company had a trading volume of 124,724 shares. WAVE Life Sciences Ltd. has a 12 month low of $17.41 and a 12 month high of $40.15. The firm’s 50-day moving average price is $20.83 and its 200 day moving average price is $26.28. The firm’s market capitalization is $582.06 million.

WAVE Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Wednesday, May 10th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.77) by $0.12. The company had revenue of $0.68 million during the quarter, compared to the consensus estimate of $0.80 million. WAVE Life Sciences had a negative return on equity of 48.16% and a negative net margin of 3,172.14%. Equities analysts anticipate that WAVE Life Sciences Ltd. will post ($3.25) earnings per share for the current fiscal year.

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Several equities analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating on shares of WAVE Life Sciences in a research report on Monday, March 27th. Jefferies Group LLC reissued a “buy” rating and set a $42.00 price objective on shares of WAVE Life Sciences in a research report on Wednesday, April 26th. JMP Securities reissued an “outperform” rating and set a $40.00 price objective on shares of WAVE Life Sciences in a research report on Friday, June 9th. Finally, ValuEngine downgraded WAVE Life Sciences from a “hold” rating to a “sell” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $42.00.

In related news, Director Masaharu Tanaka sold 433,825 shares of the firm’s stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $24.91, for a total value of $10,806,580.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 62.25% of the company’s stock.

WAVE Life Sciences Company Profile

WAVE Life Sciences Ltd. is a genetic medicines company. The Company, through its synthetic chemistry drug development platform, designs, develops and commercializes a pipeline of nucleic acid therapeutic candidates for genetically defined diseases. The Company is engaged in 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.

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