447,846 Shares in WAVE Life Sciences Ltd. $WVE Bought by Elmind Capital LP

Elmind Capital LP bought a new position in WAVE Life Sciences Ltd. (NASDAQ:WVE) during the 4th quarter, HoldingsChannel reports. The fund bought 447,846 shares of the company’s stock, valued at approximately $7,613,000. WAVE Life Sciences makes up 2.2% of Elmind Capital LP’s investment portfolio, making the stock its 15th largest position.

Other hedge funds also recently made changes to their positions in the company. Pictet Asset Management Holding SA increased its stake in shares of WAVE Life Sciences by 5,024.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 805,901 shares of the company’s stock worth $13,830,000 after buying an additional 790,175 shares during the period. GSA Capital Partners LLP purchased a new position in shares of WAVE Life Sciences in the third quarter worth $375,000. F m Investments LLC increased its stake in shares of WAVE Life Sciences by 24.5% in the fourth quarter. F m Investments LLC now owns 395,894 shares of the company’s stock worth $6,730,000 after buying an additional 77,807 shares during the period. Prescott Group Capital Management L.L.C. purchased a new position in shares of WAVE Life Sciences in the fourth quarter worth $1,530,000. Finally, Knott David M Jr increased its stake in shares of WAVE Life Sciences by 125.0% in the third quarter. Knott David M Jr now owns 90,000 shares of the company’s stock worth $659,000 after buying an additional 50,000 shares during the period. 89.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WVE has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WAVE Life Sciences in a research note on Monday, April 20th. Wedbush boosted their price objective on shares of WAVE Life Sciences from $33.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Citigroup reduced their price objective on shares of WAVE Life Sciences from $30.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Bank of America reduced their price objective on shares of WAVE Life Sciences from $38.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Finally, Wall Street Zen raised shares of WAVE Life Sciences from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Fourteen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.41.

WAVE Life Sciences Trading Up 3.7%

Shares of WAVE Life Sciences stock opened at $5.95 on Thursday. The company’s fifty day simple moving average is $6.68 and its two-hundred day simple moving average is $10.99. The company has a market cap of $1.14 billion, a P/E ratio of -5.61 and a beta of -1.33. WAVE Life Sciences Ltd. has a 12-month low of $5.02 and a 12-month high of $21.73.

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