Marshall Wace LLP Raises Holdings in Wave Life Sciences Ltd. (NASDAQ:WVE)

Marshall Wace LLP raised its holdings in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 43.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 183,875 shares of the company’s stock after purchasing an additional 55,325 shares during the period. Marshall Wace LLP’s holdings in Wave Life Sciences were worth $2,275,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. KBC Group NV bought a new position in shares of Wave Life Sciences during the 4th quarter valued at $67,000. Summit Investment Advisors Inc. raised its holdings in Wave Life Sciences by 31.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company’s stock worth $119,000 after purchasing an additional 2,308 shares during the period. Westwood Wealth Management bought a new position in Wave Life Sciences in the 4th quarter worth $124,000. Raymond James Financial Inc. bought a new position in Wave Life Sciences in the 4th quarter worth $157,000. Finally, Victory Capital Management Inc. raised its holdings in Wave Life Sciences by 16.6% in the 4th quarter. Victory Capital Management Inc. now owns 14,546 shares of the company’s stock worth $180,000 after purchasing an additional 2,073 shares during the period. 89.73% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Paul Bolno sold 169,025 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the sale, the chief executive officer now owns 338,351 shares in the company, valued at approximately $3,238,019.07. This represents a 33.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Christian O. Henry sold 10,500 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $9.77, for a total value of $102,585.00. Following the sale, the director now owns 16,115 shares in the company, valued at $157,443.55. The trade was a 39.45 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 29.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on WVE. Jefferies Financial Group began coverage on Wave Life Sciences in a report on Tuesday, February 25th. They issued a “buy” rating and a $26.00 target price on the stock. StockNews.com raised Wave Life Sciences from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 target price on shares of Wave Life Sciences in a report on Wednesday, March 26th. Finally, Wedbush initiated coverage on Wave Life Sciences in a report on Tuesday, April 8th. They set an “outperform” rating and a $18.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.18.

Wave Life Sciences Stock Down 0.9 %

Shares of Wave Life Sciences stock opened at $6.73 on Monday. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -6.06 and a beta of -0.93. The business has a 50-day moving average price of $8.49 and a 200-day moving average price of $11.54. Wave Life Sciences Ltd. has a twelve month low of $4.25 and a twelve month high of $16.74.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Tuesday, March 4th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.34. The firm had revenue of $83.75 million during the quarter, compared to analyst estimates of $25.60 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. On average, equities analysts expect that Wave Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Wave Life Sciences Company Profile

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.