Fintel reports that M28 Capital Management has filed a 13G/A form with the SEC disclosing ownership of 5.90MM shares of Wave Life Sciences Ltd (WVE). This represents 6.8% of the company.
In their previous filing dated October 29, 2021 they reported 3.77MM shares and 7.20% of the company, an increase in shares of 56.77% and a decrease in total ownership of 0.40% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 83.29% Upside
As of February 10, 2023, the average one-year price target for Wave Life Sciences is $8.74. The forecasts range from a low of $3.03 to a high of $17.85. The average price target represents an increase of 83.29% from its latest reported closing price of $4.77.
The projected annual revenue for Wave Life Sciences is $10MM, an increase of 128.60%. The projected annual EPS is -$1.53.
What is the Fund Sentiment?
There are 100 funds or institutions reporting positions in Wave Life Sciences. This is a decrease of 15 owner(s) or 13.04% in the last quarter. Average portfolio weight of all funds dedicated to WVE is 0.38%, an increase of 16.06%. Total shares owned by institutions decreased in the last three months by 0.73% to 71,389K shares. The put/call ratio of WVE is 0.22, indicating a bullish outlook.
What are large shareholders doing?
Ra Capital Management holds 17,202K shares representing 17.63% ownership of the company. No change in the last quarter.
Maverick Capital holds 7,805K shares representing 8.00% ownership of the company. No change in the last quarter.
683 Capital Management holds 7,622K shares representing 7.81% ownership of the company. In it's prior filing, the firm reported owning 7,521K shares, representing an increase of 1.33%. The firm increased its portfolio allocation in WVE by 23.17% over the last quarter.
Bellevue Group holds 4,494K shares representing 4.61% ownership of the company. No change in the last quarter.
Primecap Management holds 4,410K shares representing 4.52% ownership of the company. In it's prior filing, the firm reported owning 4,427K shares, representing a decrease of 0.38%. The firm increased its portfolio allocation in WVE by 19.79% over the last quarter.
Wave Life Sciences Background Information
(This description is provided by the company.)
Wave Life Sciences is a clinical-stage genetic medicines company committed to delivering life-changing treatments for people battling devastating diseases. Wave aspires to develop best-in-class medicines across multiple therapeutic modalities using PRISM, the company's proprietary discovery and drug development platform that enables the precise design, optimization and production of stereopure oligonucleotides. Driven by a resolute sense of urgency, the Wave team is targeting a broad range of genetically defined diseases so that patients and families may realize a brighter future.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
