Kraematon Investment Advisors Inc. Lowers Stake in Wave Life Sciences Ltd. (NASDAQ:WVE)

Kraematon Investment Advisors Inc. cut its position in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 13.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,000 shares of the company’s stock after selling 3,000 shares during the quarter. Kraematon Investment Advisors Inc.’s holdings in Wave Life Sciences were worth $95,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Ameritas Investment Partners Inc. boosted its position in Wave Life Sciences by 50.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after purchasing an additional 2,451 shares during the period. Oxford Asset Management LLP purchased a new stake in shares of Wave Life Sciences in the fourth quarter worth about $51,000. Tower Research Capital LLC TRC grew its stake in shares of Wave Life Sciences by 461.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,335 shares of the company’s stock valued at $57,000 after buying an additional 9,316 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Wave Life Sciences during the 4th quarter valued at about $64,000. Finally, Teacher Retirement System of Texas acquired a new position in Wave Life Sciences during the 4th quarter worth approximately $86,000. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

Wave Life Sciences Trading Down 5.7 %

NASDAQ WVE traded down $0.33 during trading hours on Friday, reaching $5.41. The company’s stock had a trading volume of 473,633 shares, compared to its average volume of 857,987. The business has a 50-day simple moving average of $5.80 and a 200 day simple moving average of $5.51. Wave Life Sciences Ltd. has a 52 week low of $3.50 and a 52 week high of $7.67. The stock has a market cap of $662.59 million, a PE ratio of -10.40 and a beta of -1.12.

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

Analysts Set New Price Targets

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

Wave Life Sciences Company 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.