Westwood Wealth Management Acquires Shares of 10,000 Wave Life Sciences Ltd. (NASDAQ:WVE)

Westwood Wealth Management acquired a new position in Wave Life Sciences Ltd. (NASDAQ:WVE) during the fourth quarter, HoldingsChannel reports. The fund acquired 10,000 shares of the company’s stock, valued at approximately $124,000.

Several other large investors also recently made changes to their positions in WVE. Federated Hermes Inc. acquired a new position in Wave Life Sciences during the 4th quarter worth about $841,000. Russell Investments Group Ltd. lifted its position in shares of Wave Life Sciences by 3,471.8% during the fourth quarter. Russell Investments Group Ltd. now owns 44,648 shares of the company’s stock worth $552,000 after purchasing an additional 43,398 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Wave Life Sciences by 64.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 32,331 shares of the company’s stock valued at $400,000 after purchasing an additional 12,724 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Wave Life Sciences by 84.8% in the fourth quarter. Wells Fargo & Company MN now owns 49,856 shares of the company’s stock valued at $617,000 after purchasing an additional 22,873 shares in the last quarter. Finally, Trexquant Investment LP increased its holdings in shares of Wave Life Sciences by 52.1% in the fourth quarter. Trexquant Investment LP now owns 439,352 shares of the company’s stock valued at $5,435,000 after purchasing an additional 150,538 shares in the last quarter. Institutional investors own 89.73% of the company’s stock.

Wave Life Sciences Price Performance

Shares of Wave Life Sciences stock opened at $6.03 on Friday. Wave Life Sciences Ltd. has a 1 year low of $4.25 and a 1 year high of $16.74. The company has a market capitalization of $925.52 million, a P/E ratio of -5.43 and a beta of -0.93. The business has a 50-day moving average of $10.30 and a two-hundred day moving average of $11.73.

Wave Life Sciences (NASDAQ:WVE) last announced its earnings results on Tuesday, March 4th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.34. The firm had revenue of $83.75 million for the quarter, compared to the consensus estimate of $25.60 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. On average, equities analysts anticipate that Wave Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Insider Activity at Wave Life Sciences

In other 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 transaction, the director now directly owns 16,115 shares of the company’s stock, valued at $157,443.55. This trade represents a 39.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul Bolno sold 169,025 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the completion of the sale, the chief executive officer now directly 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. 29.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

WVE has been the subject of a number of recent research reports. HC Wainwright restated a “buy” rating and set a $22.00 target price on shares of Wave Life Sciences in a research report on Wednesday, March 26th. StockNews.com raised shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Jefferies Financial Group initiated coverage on shares of Wave Life Sciences in a research note on Tuesday, February 25th. They issued a “buy” rating and a $26.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.60.

Wave Life Sciences 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.