1,820,938 Shares in Wave Life Sciences Ltd. (NASDAQ:WVE) Acquired by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust bought a new stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,820,938 shares of the company’s stock, valued at approximately $9,086,000. Emerald Mutual Fund Advisers Trust owned about 1.49% of Wave Life Sciences at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Rhumbline Advisers lifted its holdings in shares of Wave Life Sciences by 3.4% during the 2nd quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock worth $628,000 after acquiring an additional 4,092 shares during the last quarter. Principal Financial Group Inc. bought a new stake in Wave Life Sciences during the second quarter worth about $74,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Wave Life Sciences by 75.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,491 shares of the company’s stock worth $167,000 after purchasing an additional 14,371 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Wave Life Sciences by 13.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 225,402 shares of the company’s stock valued at $1,125,000 after purchasing an additional 27,524 shares during the last quarter. Finally, James J. Burns & Company LLC purchased a new position in shares of Wave Life Sciences during the 2nd quarter valued at about $449,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Insider Buying and Selling

In related news, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total transaction of $279,555.48. Following the transaction, the chief executive officer now owns 359,059 shares in the company, valued at approximately $2,075,361.02. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 29.10% of the stock is owned by insiders.

Wave Life Sciences Stock Performance

NASDAQ:WVE opened at $5.13 on Friday. Wave Life Sciences Ltd. has a fifty-two week low of $3.50 and a fifty-two week high of $7.67. The business has a 50 day moving average price of $5.76 and a 200-day moving average price of $5.73. The firm has a market cap of $628.30 million, a PE ratio of -9.87 and a beta of -1.13.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.09). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. The firm had revenue of $19.69 million for the quarter, compared to analysts’ expectations of $24.80 million. During the same period in the previous year, the company earned ($0.20) EPS. Research analysts predict that Wave Life Sciences Ltd. will post -1.05 EPS for the current year.

Analysts Set New Price Targets

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

About Wave Life Sciences

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.