JPMorgan Chase & Co. bought a new position in shares of Wave Life Sciences Ltd (NASDAQ:WVE) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 118,100 shares of the company’s stock, valued at approximately $2,634,000. JPMorgan Chase & Co. owned approximately 0.43% of Wave Life Sciences at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of WVE. Redmile Group LLC lifted its position in shares of Wave Life Sciences by 75.0% during the second quarter. Redmile Group LLC now owns 2,224,407 shares of the company’s stock worth $41,374,000 after purchasing an additional 953,310 shares in the last quarter. Sabby Management LLC acquired a new stake in Wave Life Sciences in the second quarter valued at $2,636,000. Northern Trust Corp raised its holdings in Wave Life Sciences by 66.3% in the second quarter. Northern Trust Corp now owns 165,794 shares of the company’s stock valued at $3,085,000 after acquiring an additional 66,120 shares in the last quarter. Vanguard Group Inc. raised its holdings in Wave Life Sciences by 40.3% in the second quarter. Vanguard Group Inc. now owns 215,691 shares of the company’s stock valued at $4,012,000 after acquiring an additional 61,910 shares in the last quarter. Finally, Mizuho Securities USA LLC acquired a new stake in Wave Life Sciences in the third quarter valued at $1,088,000. 73.74% of the stock is currently owned by institutional investors and hedge funds.
Shares of Wave Life Sciences Ltd (NASDAQ WVE) opened at $33.55 on Friday. The company has a current ratio of 11.50, a quick ratio of 11.50 and a debt-to-equity ratio of 0.01. Wave Life Sciences Ltd has a 12 month low of $15.15 and a 12 month high of $39.70. The firm has a market cap of $967.09, a price-to-earnings ratio of -9.48 and a beta of 0.75.
Wave Life Sciences (NASDAQ:WVE) last released its earnings results on Thursday, November 9th. The company reported ($0.94) earnings per share for the quarter, beating the consensus estimate of ($0.97) by $0.03. Wave Life Sciences had a negative net margin of 3,338.68% and a negative return on equity of 59.52%. The firm had revenue of $0.68 million during the quarter, compared to analyst estimates of $0.77 million. equities research analysts forecast that Wave Life Sciences Ltd will post -3.76 EPS for the current year.
In other Wave Life Sciences news, insider Chandra Vargeese sold 1,500 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $35.00, for a total transaction of $52,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ra Capital Management, Llc bought 423,398 shares of the stock in a transaction on Tuesday, November 14th. The shares were acquired at an average price of $23.34 per share, with a total value of $9,882,109.32. The disclosure for this purchase can be found here. 53.00% of the stock is owned by insiders.
Several analysts recently issued reports on the stock. BidaskClub raised shares of Wave Life Sciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 2nd. Leerink Swann reaffirmed an “outperform” rating and issued a $53.00 price target (up from $42.00) on shares of Wave Life Sciences in a report on Wednesday, November 15th. Zacks Investment Research raised shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. Finally, Mizuho set a $34.00 price target on shares of Wave Life Sciences and gave the company a “buy” rating in a report on Saturday, October 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Wave Life Sciences presently has a consensus rating of “Buy” and an average target price of $41.60.
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Wave Life Sciences Company Profile
WAVE Life Sciences Ltd. is a genetic medicines company. The Company, through its synthetic chemistry drug development platform, designs, develops and commercializes a pipeline of nucleic acid therapeutic candidates for genetically defined diseases. The Company is engaged in developing oligonucleotides that target genetic defects to either reduce the expression of disease-promoting proteins or transform the production of dysfunctional mutant proteins into the production of functional proteins.
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