Seven Grand Managers LLC Invests $1.70 Million in WAVE Life Sciences Ltd. $WVE

Seven Grand Managers LLC acquired a new position in WAVE Life Sciences Ltd. (NASDAQ:WVE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $1,700,000. Seven Grand Managers LLC owned approximately 0.06% of WAVE Life Sciences at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Federated Hermes Inc. boosted its holdings in shares of WAVE Life Sciences by 678,144.7% in the 3rd quarter. Federated Hermes Inc. now owns 3,750,693 shares of the company’s stock worth $27,455,000 after purchasing an additional 3,750,140 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of WAVE Life Sciences by 5,024.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 805,901 shares of the company’s stock valued at $13,830,000 after acquiring an additional 790,175 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of WAVE Life Sciences in the 3rd quarter valued at about $375,000. Prescott Group Capital Management L.L.C. bought a new stake in shares of WAVE Life Sciences in the 4th quarter valued at about $1,530,000. Finally, F m Investments LLC lifted its stake in shares of WAVE Life Sciences by 24.5% in the 4th quarter. F m Investments LLC now owns 395,894 shares of the company’s stock valued at $6,730,000 after acquiring an additional 77,807 shares during the last quarter. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WVE has been the subject of a number of recent research reports. Wedbush boosted their target price on WAVE Life Sciences from $33.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. HC Wainwright lowered their target price on WAVE Life Sciences from $18.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Citigroup lowered their target price on WAVE Life Sciences from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, May 4th. Truist Financial initiated coverage on WAVE Life Sciences in a research note on Wednesday, April 29th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Wells Fargo & Company boosted their target price on WAVE Life Sciences from $13.00 to $14.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Fourteen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, WAVE Life Sciences has a consensus rating of “Moderate Buy” and an average target price of $27.25.

WAVE Life Sciences Price Performance

WVE opened at $6.34 on Thursday. The business has a 50 day simple moving average of $7.67 and a two-hundred day simple moving average of $11.12. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -5.98 and a beta of -1.32. WAVE Life Sciences Ltd. has a one year low of $5.02 and a one year high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Wednesday, April 29th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.21. The business had revenue of $38.25 million during the quarter, compared to analyst estimates of $8.45 million. WAVE Life Sciences had a negative return on equity of 56.76% and a negative net margin of 255.70%. As a group, sell-side analysts expect that WAVE Life Sciences Ltd. will post -1.16 EPS for the current fiscal year.

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.