Siren L.L.C. Cuts Stock Holdings in WAVE Life Sciences Ltd. $WVE

Siren L.L.C. reduced its position in WAVE Life Sciences Ltd. (NASDAQ:WVE) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,696,322 shares of the company’s stock after selling 54,169 shares during the period. WAVE Life Sciences comprises about 1.7% of Siren L.L.C.’s portfolio, making the stock its 17th biggest holding. Siren L.L.C. owned about 2.40% of WAVE Life Sciences worth $29,866,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WVE. Driehaus Capital Management LLC increased its holdings in WAVE Life Sciences by 14.6% in the fourth quarter. Driehaus Capital Management LLC now owns 6,712,449 shares of the company’s stock valued at $83,033,000 after buying an additional 853,589 shares in the last quarter. Vanguard Group Inc. grew its position in shares of WAVE Life Sciences by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 3,206,403 shares of the company’s stock valued at $25,908,000 after acquiring an additional 23,891 shares during the period. Affinity Asset Advisors LLC grew its position in shares of WAVE Life Sciences by 21.7% during the 1st quarter. Affinity Asset Advisors LLC now owns 1,825,000 shares of the company’s stock valued at $14,746,000 after acquiring an additional 325,000 shares during the period. MPM Bioimpact LLC increased its stake in shares of WAVE Life Sciences by 138.5% in the 4th quarter. MPM Bioimpact LLC now owns 1,489,237 shares of the company’s stock valued at $18,422,000 after purchasing an additional 864,766 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in WAVE Life Sciences by 38.7% in the 4th quarter. Millennium Management LLC now owns 1,180,838 shares of the company’s stock worth $14,607,000 after purchasing an additional 329,173 shares during the period. Institutional investors and hedge funds own 89.73% of the company’s stock.

WAVE Life Sciences Stock Performance

Shares of WVE stock opened at $9.93 on Friday. WAVE Life Sciences Ltd. has a fifty-two week low of $5.04 and a fifty-two week high of $16.74. The stock’s fifty day moving average is $8.18 and its two-hundred day moving average is $8.00. The firm has a market capitalization of $1.58 billion, a P/E ratio of -11.03 and a beta of -0.95.

WAVE Life Sciences (NASDAQ:WVE) last issued its earnings results on Wednesday, July 30th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.02). The firm had revenue of $8.70 million for the quarter, compared to analyst estimates of $11.52 million. On average, equities analysts forecast that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on WVE shares. Citigroup assumed coverage on WAVE Life Sciences in a research report on Wednesday, July 16th. They set a “buy” rating and a $16.00 price target on the stock. Wells Fargo & Company decreased their target price on 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. Canaccord Genuity Group initiated coverage on shares of WAVE Life Sciences in a research note on Monday, August 4th. They issued a “buy” rating and a $19.00 price target on the stock. Wall Street Zen lowered shares of WAVE Life Sciences from a “hold” rating to a “sell” rating in a report on Friday, May 9th. Finally, Raymond James Financial initiated coverage on shares of WAVE Life Sciences in a research report on Wednesday, June 11th. They set an “outperform” rating and a $14.00 price objective for the company. Fourteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, WAVE Life Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $20.27.

Insider Buying and Selling at WAVE Life Sciences

In other news, Director Gregory L. Verdine sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $10.00, for a total value of $100,000.00. Following the completion of the sale, the director directly owned 285,217 shares in the company, valued at $2,852,170. This represents a 3.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ken Takanashi sold 4,872 shares of WAVE Life Sciences stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $8.75, for a total value of $42,630.00. Following the transaction, the director owned 5,716,303 shares in the company, valued at approximately $50,017,651.25. The trade was a 0.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 271,893 shares of company stock worth $2,631,568 in the last quarter. Insiders own 23.98% of the company’s stock.

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.