Bellevue Group AG Sells 400,000 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

Bellevue Group AG trimmed its position in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 8.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,094,458 shares of the company’s stock after selling 400,000 shares during the quarter. Bellevue Group AG’s holdings in Wave Life Sciences were worth $25,263,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in Wave Life Sciences by 14.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,861,254 shares of the company’s stock valued at $11,485,000 after acquiring an additional 233,891 shares in the last quarter. Affinity Asset Advisors LLC bought a new stake in Wave Life Sciences during the 1st quarter valued at approximately $1,768,000. American International Group Inc. boosted its position in Wave Life Sciences by 23.3% during the 1st quarter. American International Group Inc. now owns 36,241 shares of the company’s stock valued at $224,000 after acquiring an additional 6,851 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Wave Life Sciences by 50.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after purchasing an additional 2,451 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Wave Life Sciences by 39.7% during the first quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock valued at $11,316,000 after purchasing an additional 521,665 shares during the last quarter. 89.73% of the stock is owned by institutional investors.

Wave Life Sciences Price Performance

NASDAQ WVE traded up $0.23 during mid-day trading on Friday, reaching $6.53. The stock had a trading volume of 421,893 shares, compared to its average volume of 809,978. Wave Life Sciences Ltd. has a 1 year low of $3.50 and a 1 year high of $7.67. The stock has a market cap of $799.76 million, a PE ratio of -12.56 and a beta of -1.12. The company has a fifty day moving average price of $5.83 and a 200 day moving average price of $5.43.

Wave Life Sciences (NASDAQ:WVE) last posted its earnings results on Thursday, May 9th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The business had revenue of $12.54 million for the quarter, compared to analyst estimates of $25.67 million. During the same period in the previous year, the business posted ($0.27) earnings per share. As a group, equities research analysts expect that Wave Life Sciences Ltd. will post -0.85 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on WVE shares. HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of Wave Life Sciences in a report on Wednesday, June 26th. Wells Fargo & Company started coverage on shares of Wave Life Sciences in a report on Wednesday, May 15th. They set an “overweight” rating and a $11.00 target price for the company. Mizuho reiterated an “outperform” rating and set a $19.00 target price on shares of Wave Life Sciences in a report on Tuesday, June 25th. StockNews.com lowered shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Finally, Truist Financial restated a “buy” rating and issued a $17.00 price objective on shares of Wave Life Sciences in a report on Monday, April 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.17.

About Wave Life Sciences

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.