Aigen Investment Management LP Takes $270,000 Position in Wave Life Sciences Ltd. (NASDAQ:WVE)

Aigen Investment Management LP bought a new stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 21,854 shares of the company’s stock, valued at approximately $270,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Maverick Capital Ltd. increased its holdings in Wave Life Sciences by 31.0% during the 3rd quarter. Maverick Capital Ltd. now owns 10,047,520 shares of the company’s stock valued at $82,390,000 after acquiring an additional 2,378,159 shares in the last quarter. State Street Corp increased its holdings in Wave Life Sciences by 2.6% during the 3rd quarter. State Street Corp now owns 2,321,248 shares of the company’s stock valued at $19,034,000 after acquiring an additional 57,822 shares in the last quarter. Geode Capital Management LLC increased its holdings in Wave Life Sciences by 14.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,269,664 shares of the company’s stock valued at $18,615,000 after acquiring an additional 283,419 shares in the last quarter. FMR LLC increased its holdings in Wave Life Sciences by 174.5% during the 3rd quarter. FMR LLC now owns 1,540,190 shares of the company’s stock valued at $12,630,000 after acquiring an additional 979,110 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Wave Life Sciences by 8.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 914,469 shares of the company’s stock valued at $11,312,000 after acquiring an additional 69,852 shares in the last quarter. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WVE has been the subject of several recent research reports. Truist Financial raised their target price on shares of Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. StockNews.com upgraded shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a report on Saturday. Jefferies Financial Group began coverage on shares of Wave Life Sciences in a report on Tuesday, February 25th. They set a “buy” rating and a $26.00 price target for the company. Mizuho lifted their price target on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, HC Wainwright reiterated a “buy” rating and set a $22.00 price target on shares of Wave Life Sciences in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.60.

Wave Life Sciences Stock Performance

WVE opened at $9.40 on Friday. The company’s 50 day simple moving average is $11.44 and its 200 day simple moving average is $11.24. Wave Life Sciences Ltd. has a 1 year low of $4.25 and a 1 year high of $16.74. The stock has a market capitalization of $1.44 billion, a PE ratio of -8.47 and a beta of -1.04.

Wave Life Sciences (NASDAQ:WVE) last released its earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.34. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. The business had revenue of $83.75 million for the quarter, compared to analysts’ expectations of $25.60 million. As a group, sell-side analysts expect that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Wave Life Sciences

In other Wave Life Sciences news, CEO Paul Bolno sold 169,025 shares of Wave Life Sciences stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the transaction, the chief executive officer now directly owns 338,351 shares of the company’s stock, valued at $3,238,019.07. The trade was a 33.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 29.10% of the stock is currently owned by corporate insiders.

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.