Boone Capital Management LLC Buys Shares of 352,144 WAVE Life Sciences Ltd. $WVE

Boone Capital Management LLC bought a new stake in WAVE Life Sciences Ltd. (NASDAQ:WVE) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 352,144 shares of the company’s stock, valued at approximately $5,986,000. WAVE Life Sciences comprises 2.0% of Boone Capital Management LLC’s holdings, making the stock its 14th biggest holding.

A number of other hedge funds also recently added to or reduced their stakes in WVE. CWM LLC grew its holdings in WAVE Life Sciences by 6,729.0% during the fourth quarter. CWM LLC now owns 2,117 shares of the company’s stock worth $36,000 after acquiring an additional 2,086 shares during the period. Smartleaf Asset Management LLC grew its holdings in WAVE Life Sciences by 645.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,243 shares of the company’s stock worth $38,000 after acquiring an additional 1,942 shares during the period. Russell Investments Group Ltd. grew its holdings in WAVE Life Sciences by 1,441.6% during the third quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company’s stock worth $73,000 after acquiring an additional 9,284 shares during the period. Tower Research Capital LLC TRC grew its holdings in WAVE Life Sciences by 44.8% during the second quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company’s stock worth $76,000 after acquiring an additional 3,609 shares during the period. Finally, Prudential Financial Inc. acquired a new position in WAVE Life Sciences during the second quarter worth about $80,000. 89.73% of the stock is currently owned by institutional investors.

WAVE Life Sciences Stock Performance

WVE opened at $5.95 on Thursday. The business has a 50 day moving average price of $6.68 and a 200 day moving average price of $10.99. WAVE Life Sciences Ltd. has a twelve month low of $5.02 and a twelve month high of $21.73. The firm has a market cap of $1.14 billion, a P/E ratio of -5.61 and a beta of -1.33.

WAVE Life Sciences (NASDAQ:WVE) last posted its quarterly earnings data on Wednesday, April 29th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.21. WAVE Life Sciences had a negative return on equity of 56.76% and a negative net margin of 255.70%.The company had revenue of $38.25 million during the quarter, compared to analysts’ expectations of $8.45 million. As a group, analysts anticipate that WAVE Life Sciences Ltd. will post -1.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WVE. Wall Street Zen raised WAVE Life Sciences from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Bank of America dropped their price target on WAVE Life Sciences from $38.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. Citigroup dropped their price target on WAVE Life Sciences from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Wells Fargo & Company lifted their price target on WAVE Life Sciences from $13.00 to $14.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Finally, HC Wainwright reissued a “buy” rating on shares of WAVE Life Sciences in a research note on Thursday, June 11th. Fourteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.41.

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.