Bank of New York Mellon Corp Has $2.65 Million Position in Wave Life Sciences Ltd (WVE)

Bank of New York Mellon Corp reduced its holdings in Wave Life Sciences Ltd (NASDAQ:WVE) by 13.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,215 shares of the company’s stock after selling 10,417 shares during the period. Bank of New York Mellon Corp’s holdings in Wave Life Sciences were worth $2,648,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Redmile Group LLC raised its holdings in Wave Life Sciences by 1.3% in the first quarter. Redmile Group LLC now owns 2,237,607 shares of the company’s stock worth $89,728,000 after purchasing an additional 28,500 shares during the period. Wells Fargo & Company MN raised its holdings in Wave Life Sciences by 5,257.8% in the second quarter. Wells Fargo & Company MN now owns 360,633 shares of the company’s stock worth $13,794,000 after purchasing an additional 353,902 shares during the period. DAFNA Capital Management LLC acquired a new stake in Wave Life Sciences in the first quarter worth $1,780,000. Platinum Investment Management Ltd. acquired a new stake in Wave Life Sciences in the first quarter worth $1,291,000. Finally, GSA Capital Partners LLP raised its holdings in Wave Life Sciences by 84.4% in the first quarter. GSA Capital Partners LLP now owns 20,100 shares of the company’s stock worth $806,000 after purchasing an additional 9,200 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

WVE opened at $42.92 on Tuesday. The company has a current ratio of 6.11, a quick ratio of 6.11 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -11.17 and a beta of 1.00. Wave Life Sciences Ltd has a twelve month low of $21.20 and a twelve month high of $56.00.

Wave Life Sciences (NASDAQ:WVE) last posted its earnings results on Thursday, August 9th. The company reported ($1.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.88). Wave Life Sciences had a negative return on equity of 91.88% and a negative net margin of 1,473.26%. The firm had revenue of $4.88 million during the quarter, compared to analyst estimates of $7.38 million. Research analysts predict that Wave Life Sciences Ltd will post -4.99 earnings per share for the current year.

In other news, VP Chandra Vargeese sold 3,000 shares of the stock in a transaction on Monday, September 24th. The shares were sold at an average price of $55.00, for a total transaction of $165,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Chris Francis sold 11,575 shares of the stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $56.00, for a total transaction of $648,200.00. The disclosure for this sale can be found here. Insiders have sold 44,075 shares of company stock valued at $2,435,700 in the last three months. 44.20% of the stock is owned by insiders.

Several research firms have weighed in on WVE. BidaskClub lowered shares of Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 21st. ValuEngine upgraded shares of Wave Life Sciences from a “buy” rating to a “strong-buy” rating in a report on Monday, July 2nd. Mizuho set a $65.00 target price on shares of Wave Life Sciences and gave the stock a “buy” rating in a report on Friday, June 29th. HC Wainwright reiterated a “buy” rating and issued a $49.00 target price on shares of Wave Life Sciences in a report on Monday, July 23rd. Finally, Stifel Nicolaus began coverage on shares of Wave Life Sciences in a report on Monday, August 6th. They issued a “buy” rating and a $56.00 target price on the stock. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $58.40.

About Wave Life Sciences

Wave Life Sciences Ltd., a biotechnology company, designs, develops, and commercializes nucleic acid therapeutic candidates for genetically defined diseases by utilizing proprietary synthetic chemistry drug development platform. The company is primarily 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.

Further Reading: What is the balance sheet?

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Institutional Ownership by Quarter for Wave Life Sciences (NASDAQ:WVE)

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