Walleye Capital LLC Invests $4.94 Million in Wave Life Sciences Ltd. (NASDAQ:WVE)

Walleye Capital LLC acquired a new position in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) during the 3rd quarter, Holdings Channel reports. The firm acquired 602,441 shares of the company’s stock, valued at approximately $4,940,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in Wave Life Sciences by 23.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock valued at $37,000 after buying an additional 856 shares during the last quarter. Profund Advisors LLC bought a new stake in shares of Wave Life Sciences during the 2nd quarter worth approximately $53,000. Principal Financial Group Inc. bought a new stake in shares of Wave Life Sciences during the 2nd quarter worth approximately $74,000. Mackenzie Financial Corp boosted its position in Wave Life Sciences by 13.6% in the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after buying an additional 1,905 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Wave Life Sciences by 53.9% during the 3rd quarter. US Bancorp DE now owns 18,043 shares of the company’s stock valued at $148,000 after acquiring an additional 6,316 shares in the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

Wave Life Sciences Trading Up 0.7 %

WVE stock opened at $15.10 on Monday. The stock’s fifty day simple moving average is $12.49 and its two-hundred day simple moving average is $8.16. Wave Life Sciences Ltd. has a 1-year low of $3.50 and a 1-year high of $16.74. The stock has a market cap of $2.30 billion, a P/E ratio of -13.60 and a beta of -1.20.

Insiders Place Their Bets

In other news, major shareholder Plc Gsk purchased 2,791,930 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were purchased at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the transaction, the insider now directly owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This represents a 19.97 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul Bolno sold 90,474 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $15.00, for a total value of $1,357,110.00. Following the sale, the chief executive officer now owns 268,585 shares in the company, valued at approximately $4,028,775. The trade was a 25.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 453,690 shares of company stock valued at $6,425,883. Insiders own 29.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WVE. StockNews.com lowered shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. B. Riley raised their target price on Wave Life Sciences from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Truist Financial lifted their target price on Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Wells Fargo & Company boosted their price objective on Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, HC Wainwright restated a “buy” rating and set a $22.00 price objective on shares of Wave Life Sciences in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.22.

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.