Elmind Capital LP Has $1.29 Million Stake in WAVE Life Sciences Ltd. $WVE

Elmind Capital LP lessened its holdings in WAVE Life Sciences Ltd. (NASDAQ:WVE) by 60.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 177,846 shares of the company’s stock after selling 270,000 shares during the period. Elmind Capital LP’s holdings in WAVE Life Sciences were worth $1,289,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. GSK plc bought a new stake in shares of WAVE Life Sciences in the fourth quarter valued at approximately $310,177,000. Adage Capital Partners GP L.L.C. lifted its holdings in shares of WAVE Life Sciences by 20.0% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 15,016,500 shares of the company’s stock worth $97,607,000 after acquiring an additional 2,500,000 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of WAVE Life Sciences by 83.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,407,372 shares of the company’s stock worth $125,927,000 after acquiring an additional 3,362,880 shares during the period. Darwin Global Management Ltd. acquired a new stake in shares of WAVE Life Sciences during the 4th quarter valued at about $125,168,000. Finally, Federated Hermes Inc. increased its stake in WAVE Life Sciences by 26.5% in the fourth quarter. Federated Hermes Inc. now owns 4,744,520 shares of the company’s stock valued at $80,657,000 after acquiring an additional 993,827 shares during the period. 89.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on WVE. 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. Canaccord Genuity Group lowered their price objective on WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Wells Fargo & Company increased their target price on WAVE Life Sciences from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Truist Financial initiated coverage on WAVE Life Sciences in a report on Wednesday, April 29th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Zacks Research raised shares of WAVE Life Sciences from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.41.

WAVE Life Sciences Stock Up 1.9%

Shares of WAVE Life Sciences stock opened at $5.92 on Tuesday. The stock has a market cap of $1.14 billion, a PE ratio of -5.58 and a beta of -1.29. WAVE Life Sciences Ltd. has a 12 month low of $5.02 and a 12 month high of $21.73. The business has a fifty day simple moving average of $6.02 and a 200 day simple moving average of $9.19.

WAVE Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Wednesday, April 29th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.21. The company had revenue of $38.25 million during the quarter, compared to analysts’ expectations of $8.45 million. WAVE Life Sciences had a negative return on equity of 56.76% and a negative net margin of 255.70%. Analysts expect 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.