Bamco Inc. NY Acquires Shares of 85,000 Wave Life Sciences Ltd. (NASDAQ:WVE)

Bamco Inc. NY bought a new position in Wave Life Sciences Ltd. (NASDAQ:WVE) in the 4th quarter, HoldingsChannel reports. The fund bought 85,000 shares of the company’s stock, valued at approximately $1,051,000.

A number of other institutional investors have also made changes to their positions in WVE. Quarry LP acquired a new position in Wave Life Sciences in the fourth quarter worth $62,000. KBC Group NV bought a new stake in shares of Wave Life Sciences during the 4th quarter valued at about $67,000. Summit Investment Advisors Inc. raised its stake in Wave Life Sciences by 31.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company’s stock worth $119,000 after acquiring an additional 2,308 shares during the period. Westwood Wealth Management acquired a new position in Wave Life Sciences in the fourth quarter valued at approximately $124,000. Finally, Ameriprise Financial Inc. bought a new position in shares of Wave Life Sciences during the fourth quarter valued at approximately $129,000. 89.73% of the stock is currently owned by institutional investors.

Wave Life Sciences Price Performance

WVE stock opened at $7.73 on Tuesday. The firm has a market cap of $1.19 billion, a PE ratio of -6.96 and a beta of -0.91. Wave Life Sciences Ltd. has a 12 month low of $4.25 and a 12 month high of $16.74. The firm has a 50 day simple moving average of $8.10 and a 200 day simple moving average of $11.36.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Tuesday, March 4th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.34. The company had revenue of $83.75 million during the quarter, compared to the consensus estimate of $25.60 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. As a group, sell-side analysts expect that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Christian O. Henry sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $9.77, for a total transaction of $102,585.00. Following the completion of the sale, the director now directly owns 16,115 shares in the company, valued at approximately $157,443.55. This trade represents a 39.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Paul Bolno sold 169,025 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the completion of the transaction, the chief executive officer now owns 338,351 shares in the company, valued at approximately $3,238,019.07. This represents a 33.31 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 29.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on WVE shares. HC Wainwright reiterated a “buy” rating and set a $22.00 price objective on shares of Wave Life Sciences in a research report on Wednesday, March 26th. Wedbush assumed coverage on Wave Life Sciences in a research note on Tuesday, April 8th. They issued an “outperform” rating and a $18.00 price target for the company. Jefferies Financial Group assumed coverage on shares of Wave Life Sciences in a research note on Tuesday, February 25th. They set a “buy” rating and a $26.00 price objective on the stock. StockNews.com upgraded shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, Cantor Fitzgerald began coverage on shares of Wave Life Sciences in a research report on Tuesday, April 29th. They set an “overweight” rating and a $10.00 price target on the stock. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.17.

Wave Life Sciences Company Profile

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.