JPMorgan Chase & Co. Sells 16,382 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

JPMorgan Chase & Co. cut its position in Wave Life Sciences Ltd. (NASDAQ:WVE) by 4.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 375,667 shares of the company’s stock after selling 16,382 shares during the quarter. JPMorgan Chase & Co. owned about 0.25% of Wave Life Sciences worth $3,080,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Wave Life Sciences by 23.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock valued at $37,000 after acquiring an additional 856 shares during the period. Mackenzie Financial Corp boosted its holdings in Wave Life Sciences by 13.6% in the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after purchasing an additional 1,905 shares during the period. Rhumbline Advisers grew its position in shares of Wave Life Sciences by 3.4% during the 2nd quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock worth $628,000 after purchasing an additional 4,092 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Wave Life Sciences by 3.6% during the second quarter. The Manufacturers Life Insurance Company now owns 139,790 shares of the company’s stock worth $698,000 after purchasing an additional 4,914 shares during the period. Finally, US Bancorp DE raised its position in shares of Wave Life Sciences by 53.9% in the third quarter. US Bancorp DE now owns 18,043 shares of the company’s stock valued at $148,000 after buying an additional 6,316 shares in the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WVE has been the topic of a number of analyst reports. Leerink Partners increased their price target on Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Raymond James upgraded Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $13.00 to $22.00 in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price target on Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Royal Bank of Canada increased their price objective on shares of Wave Life Sciences from $7.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Monday, October 21st. Finally, Truist Financial boosted their target price on shares of Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.22.

Insider Buying and Selling

In related news, CEO Paul Bolno sold 50,000 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 217,351 shares in the company, valued at $3,260,265. This represents a 18.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chris Francis sold 36,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $16.00, for a total value of $576,000.00. The disclosure for this sale can be found here. Insiders have sold 137,234 shares of company stock worth $2,059,671 in the last 90 days. Insiders own 29.10% of the company’s stock.

Wave Life Sciences Trading Down 2.8 %

Shares of Wave Life Sciences stock opened at $10.99 on Monday. The firm has a market capitalization of $1.68 billion, a PE ratio of -9.90 and a beta of -1.07. The firm’s 50 day moving average is $13.69 and its 200 day moving average is $9.99. Wave Life Sciences Ltd. has a 1 year low of $3.50 and a 1 year high of $16.74.

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.