Principal Financial Group Inc. Buys Shares of 248,645 Wave Life Sciences Ltd. (NASDAQ:WVE)

Principal Financial Group Inc. bought a new stake in Wave Life Sciences Ltd. (NASDAQ:WVE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 248,645 shares of the company’s stock, valued at approximately $3,076,000. Principal Financial Group Inc. owned about 0.16% of Wave Life Sciences at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in WVE. Mirae Asset Global Investments Co. Ltd. boosted its holdings in 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 worth $37,000 after acquiring an additional 856 shares in the last quarter. KBC Group NV purchased a new position in shares of Wave Life Sciences in the fourth quarter valued at $67,000. Point72 DIFC Ltd purchased a new position in shares of Wave Life Sciences in the third quarter valued at $98,000. Orion Portfolio Solutions LLC purchased a new position in Wave Life Sciences during the third quarter worth about $123,000. Finally, XTX Topco Ltd purchased a new position in Wave Life Sciences during the third quarter worth about $126,000. Institutional investors and hedge funds own 89.73% of the company’s stock.

Wave Life Sciences Stock Performance

Shares of NASDAQ WVE opened at $11.23 on Wednesday. The company has a market cap of $1.71 billion, a P/E ratio of -10.12 and a beta of -1.09. The firm’s fifty day moving average is $11.63 and its two-hundred day moving average is $11.19. Wave Life Sciences Ltd. has a 52-week low of $4.25 and a 52-week high of $16.74.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Jefferies Financial Group began coverage on Wave Life Sciences in a research note on Tuesday, February 25th. They set a “buy” rating and a $26.00 price target for the company. Mizuho boosted their price target on Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. StockNews.com upgraded Wave Life Sciences from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Wave Life Sciences in a research report on Wednesday, November 13th. Finally, Truist Financial increased their price objective on shares of Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.60.

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.