Wave Life Sciences Ltd. (NASDAQ:WVE) Shares Sold by Maverick Capital Ltd.

Maverick Capital Ltd. reduced its position in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 0.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,669,361 shares of the company’s stock after selling 18,718 shares during the period. Maverick Capital Ltd. owned approximately 6.15% of Wave Life Sciences worth $38,270,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ameritas Investment Partners Inc. grew its holdings in Wave Life Sciences by 50.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after acquiring an additional 2,451 shares during the period. Profund Advisors LLC acquired a new position in Wave Life Sciences during the second quarter worth about $53,000. Principal Financial Group Inc. acquired a new position in Wave Life Sciences during the second quarter worth about $74,000. Teacher Retirement System of Texas acquired a new position in Wave Life Sciences during the fourth quarter worth about $86,000. Finally, Hsbc Holdings PLC acquired a new position in Wave Life Sciences during the second quarter worth about $104,000. 89.73% of the stock is owned by institutional investors and hedge funds.

Wave Life Sciences Trading Down 11.0 %

Shares of NASDAQ WVE opened at $8.02 on Friday. Wave Life Sciences Ltd. has a one year low of $3.50 and a one year high of $9.92. The business has a 50-day moving average price of $5.98 and a two-hundred day moving average price of $5.84. The firm has a market capitalization of $982.25 million, a PE ratio of -15.42 and a beta of -1.13.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates 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 company 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 firm posted ($0.20) earnings per share. Research analysts anticipate that Wave Life Sciences Ltd. will post -1.04 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Mizuho reaffirmed an “outperform” rating and set a $19.00 target price on shares of Wave Life Sciences in a report on Tuesday, June 25th. JPMorgan Chase & Co. started coverage on Wave Life Sciences in a research note on Monday, September 9th. They issued an “overweight” rating and a $10.00 price target on the stock. HC Wainwright lifted their price target on Wave Life Sciences from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, B. Riley started coverage on Wave Life Sciences in a research note on Thursday, September 19th. They issued a “buy” rating and a $11.00 price target on the stock. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.38.

Insider Transactions at Wave Life Sciences

In other Wave Life Sciences 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 value of $279,555.48. Following the transaction, the chief executive officer now owns 359,059 shares in the company, valued at $2,075,361.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 29.10% of the stock is currently owned by company insiders.

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.