Wave Life Sciences Ltd. (NASDAQ:WVE) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in Wave Life Sciences Ltd. (NASDAQ:WVE) by 14.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,269,664 shares of the company’s stock after purchasing an additional 283,419 shares during the period. Geode Capital Management LLC owned approximately 1.49% of Wave Life Sciences worth $18,615,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in WVE. Bank of New York Mellon Corp raised its holdings in Wave Life Sciences by 13.9% during the second quarter. Bank of New York Mellon Corp now owns 225,402 shares of the company’s stock worth $1,125,000 after purchasing an additional 27,524 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Wave Life Sciences by 75.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,491 shares of the company’s stock valued at $167,000 after buying an additional 14,371 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of Wave Life Sciences during the 2nd quarter worth $74,000. Rhumbline Advisers boosted its position in shares of Wave Life Sciences by 3.4% in the 2nd quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock worth $628,000 after buying an additional 4,092 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in Wave Life Sciences in the 2nd quarter valued at about $9,086,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wells Fargo & Company increased their target price on Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. StockNews.com cut Wave Life Sciences from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their target price on shares of Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. B. Riley raised their price target on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Mizuho lifted their price target on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.22.

Insider Transactions at Wave Life Sciences

In other Wave Life Sciences news, CEO Paul Bolno sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $15.00, for a total value of $750,000.00. Following the completion of the transaction, the chief executive officer now owns 217,351 shares in the company, valued at $3,260,265. This represents a 18.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Francis sold 208,836 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $13.67, for a total transaction of $2,854,788.12. The disclosure for this sale can be found here. Insiders have sold a total of 436,544 shares of company stock worth $6,271,569 in the last three months. 29.10% of the stock is currently owned by company insiders.

Wave Life Sciences Stock Performance

WVE opened at $12.90 on Friday. Wave Life Sciences Ltd. has a 1 year low of $3.50 and a 1 year high of $16.74. The company’s 50 day simple moving average is $14.41 and its 200 day simple moving average is $9.25. The stock has a market capitalization of $1.97 billion, a PE ratio of -11.62 and a beta of -1.21.

Wave Life Sciences 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.