ProShare Advisors LLC Sells 4,354 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

ProShare Advisors LLC cut its position in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 20.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,410 shares of the company’s stock after selling 4,354 shares during the quarter. ProShare Advisors LLC’s holdings in Wave Life Sciences were worth $87,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Emerald Advisers LLC bought a new position in Wave Life Sciences during the 2nd quarter worth approximately $12,441,000. Emerald Mutual Fund Advisers Trust bought a new position in Wave Life Sciences during the 2nd quarter worth approximately $9,086,000. Artal Group S.A. grew its position in Wave Life Sciences by 34.7% during the 1st quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock worth $24,997,000 after acquiring an additional 1,044,000 shares during the last quarter. Ikarian Capital LLC bought a new position in Wave Life Sciences during the 1st quarter worth approximately $3,641,000. Finally, Vanguard Group Inc. grew its position in Wave Life Sciences by 39.7% during the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock worth $11,316,000 after acquiring an additional 521,665 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors.

Wave Life Sciences Price Performance

NASDAQ:WVE opened at $8.04 on Tuesday. Wave Life Sciences Ltd. has a one year low of $3.50 and a one year high of $9.92. The company’s 50-day simple moving average is $6.28 and its 200 day simple moving average is $5.93. The firm has a market capitalization of $984.70 million, a P/E ratio of -15.46 and a beta of -1.10.

Wave Life Sciences (NASDAQ:WVE) last issued its earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The firm had revenue of $19.69 million during the quarter, compared to the consensus estimate of $24.80 million. Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. During the same quarter in the prior year, the company posted ($0.20) EPS. On average, equities research analysts expect that Wave Life Sciences Ltd. will post -1.04 earnings per share for the current fiscal year.

Insider Transactions at Wave Life Sciences

In other news, CEO Paul Bolno sold 48,366 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 approximately $2,075,361.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Kyle Moran sold 17,146 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total transaction of $154,314.00. Following the completion of the transaction, the chief financial officer now directly owns 19,777 shares of the company’s stock, valued at $177,993. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total transaction of $279,555.48. Following the transaction, the chief executive officer now directly owns 359,059 shares of the company’s stock, valued at $2,075,361.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 29.10% of the company’s stock.

Analyst Ratings Changes

WVE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. initiated coverage on Wave Life Sciences in a research report on Friday, September 27th. They issued an “overweight” rating and a $13.00 price objective on the stock. Royal Bank of Canada raised their target price on shares of Wave Life Sciences from $5.00 to $7.00 and gave the stock a “sector perform” rating in a research report on Friday. Mizuho reaffirmed an “outperform” rating and set a $19.00 target price on shares of Wave Life Sciences in a research note on Tuesday, June 25th. B. Riley lifted their target price on shares of Wave Life Sciences from $11.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, HC Wainwright lifted their target price on shares of Wave Life Sciences from $15.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.00.

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.