Westwood Wealth Management Acquires New Holdings in Wave Life Sciences Ltd. (NASDAQ:WVE)

Westwood Wealth Management acquired a new position in Wave Life Sciences Ltd. (NASDAQ:WVE) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 10,000 shares of the company’s stock, valued at approximately $124,000.

A number of other hedge funds and other institutional investors have also modified their holdings of WVE. Vanguard Group Inc. increased its stake in shares of Wave Life Sciences by 10.2% in the fourth quarter. Vanguard Group Inc. now owns 3,182,512 shares of the company’s stock worth $39,368,000 after acquiring an additional 294,956 shares during the last quarter. Emerald Advisers LLC raised its stake in shares of Wave Life Sciences by 9.7% during the 4th quarter. Emerald Advisers LLC now owns 3,162,369 shares of the company’s stock worth $39,119,000 after purchasing an additional 280,859 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Wave Life Sciences by 8.9% during the 4th quarter. Geode Capital Management LLC now owns 2,470,751 shares of the company’s stock valued at $30,571,000 after buying an additional 201,087 shares during the last quarter. State Street Corp grew its stake in shares of Wave Life Sciences by 2.6% in the 3rd quarter. State Street Corp now owns 2,321,248 shares of the company’s stock valued at $19,034,000 after buying an additional 57,822 shares in the last quarter. Finally, Loomis Sayles & Co. L P bought a new position in Wave Life Sciences during the fourth quarter valued at approximately $20,545,000. Institutional investors and hedge funds own 89.73% of the company’s stock.

Insider Buying and Selling

In other Wave Life Sciences news, CEO Paul Bolno sold 169,025 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 338,351 shares in the company, valued at $3,238,019.07. This trade represents a 33.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christian O. Henry sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $9.77, for a total value of $102,585.00. Following the completion of the sale, the director now owns 16,115 shares in the company, valued at approximately $157,443.55. This represents a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on WVE shares. HC Wainwright reissued a “buy” rating and issued a $22.00 target price on shares of Wave Life Sciences in a research report on Wednesday, March 26th. StockNews.com upgraded Wave Life Sciences from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. Finally, Jefferies Financial Group began coverage on Wave Life Sciences in a research report on Tuesday, February 25th. They issued a “buy” rating and a $26.00 price target for the company. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Wave Life Sciences presently has an average rating of “Moderate Buy” and an average price target of $22.60.

Wave Life Sciences Stock Down 9.2 %

Shares of WVE stock opened at $6.03 on Friday. The stock has a 50 day moving average of $10.30 and a 200-day moving average of $11.73. The firm has a market cap of $925.52 million, a PE ratio of -5.43 and a beta of -0.93. Wave Life Sciences Ltd. has a 12 month low of $4.25 and a 12 month high of $16.74.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $83.75 million during the quarter, compared to the consensus estimate of $25.60 million. As a group, equities analysts predict that Wave Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Wave Life Sciences 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.