Squarepoint Ops LLC boosted its stake in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE – Free Report) by 68.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,541,442 shares of the company’s stock after buying an additional 1,029,052 shares during the period. Squarepoint Ops LLC’s holdings in WAVE Life Sciences were worth $14,766,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. Deutsche Bank AG boosted its holdings in shares of WAVE Life Sciences by 1.5% in the fourth quarter. Deutsche Bank AG now owns 95,706 shares of the company’s stock worth $1,627,000 after buying an additional 1,441 shares during the period. AlphaCentric Advisors LLC raised its holdings in shares of WAVE Life Sciences by 5.7% during the first quarter. AlphaCentric Advisors LLC now owns 29,175 shares of the company’s stock valued at $212,000 after acquiring an additional 1,585 shares during the period. First Trust Advisors LP raised its holdings in shares of WAVE Life Sciences by 15.7% during the first quarter. First Trust Advisors LP now owns 13,518 shares of the company’s stock valued at $98,000 after acquiring an additional 1,830 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of WAVE Life Sciences by 645.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,243 shares of the company’s stock valued at $38,000 after acquiring an additional 1,942 shares in the last quarter. Finally, Nebula Research & Development LLC lifted its position 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 acquiring an additional 2,748 shares in the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.
WAVE Life Sciences Stock Down 2.0%
WVE stock opened at $4.81 on Thursday. The company has a 50 day moving average of $5.58 and a two-hundred day moving average of $7.35. The company has a market cap of $947.81 million, a price-to-earnings ratio of -4.41 and a beta of -1.30. WAVE Life Sciences Ltd. has a 12-month low of $4.64 and a 12-month high of $21.73.
Analysts Set New Price Targets
Several equities analysts have weighed in on WVE shares. Wells Fargo & Company lifted their price objective on shares of WAVE Life Sciences from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Zacks Research lowered WAVE Life Sciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WAVE Life Sciences in a research report on Friday, July 17th. Mizuho lowered their price target on WAVE Life Sciences from $27.00 to $23.00 and set an “outperform” rating on the stock in a report on Tuesday, August 4th. Finally, New Street Research set a $13.00 price target on WAVE Life Sciences in a report on Thursday, June 11th. Fourteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, WAVE Life Sciences presently has an average rating of “Moderate Buy” and an average price target of $22.31.
View Our Latest Research Report on WAVE Life Sciences
Insider Transactions at WAVE Life Sciences
In other news, Director Adrian Rawcliffe sold 12,700 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $5.29, for a total transaction of $67,183.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Heidi Wagner sold 7,000 shares of WAVE Life Sciences stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $6.01, for a total value of $42,070.00. Following the sale, the director owned 44,930 shares of the company’s stock, valued at approximately $270,029.30. This represents a 13.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 23,564 shares of company stock valued at $132,476 over the last ninety days. Company insiders own 24.30% of the company’s stock.
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.
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