Mackenzie Financial Corp Purchases 1,905 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

Mackenzie Financial Corp increased its position in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 13.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,887 shares of the company’s stock after purchasing an additional 1,905 shares during the period. Mackenzie Financial Corp’s holdings in Wave Life Sciences were worth $79,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Artal Group S.A. boosted its stake in Wave Life Sciences by 34.7% in the 1st quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock valued at $24,997,000 after buying an additional 1,044,000 shares in the last quarter. Emerald Advisers LLC acquired a new stake in Wave Life Sciences in the 2nd quarter valued at $12,441,000. Price T Rowe Associates Inc. MD boosted its stake in Wave Life Sciences by 14.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,861,254 shares of the company’s stock valued at $11,485,000 after buying an additional 233,891 shares in the last quarter. Vanguard Group Inc. boosted its stake in Wave Life Sciences by 39.7% in the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock valued at $11,316,000 after buying an additional 521,665 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 $9,086,000. 89.73% of the stock is currently owned by institutional investors.

Insider Activity at Wave Life Sciences

In related news, major shareholder Plc Gsk acquired 2,791,930 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was acquired at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the acquisition, the insider now owns 16,775,691 shares of the company’s stock, valued at $134,205,528. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, major shareholder Plc Gsk acquired 2,791,930 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was acquired at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the acquisition, the insider now owns 16,775,691 shares of the company’s stock, valued at $134,205,528. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kyle Moran sold 17,146 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the completion of the sale, the chief financial officer now owns 19,777 shares of the company’s stock, valued at $177,993. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 29.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on WVE. Royal Bank of Canada boosted their price target on Wave Life Sciences from $5.00 to $7.00 and gave the company a “sector perform” rating in a research note on Friday, October 4th. B. Riley boosted their price objective on Wave Life Sciences from $11.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Mizuho reissued an “outperform” rating and issued a $19.00 price objective on shares of Wave Life Sciences in a research note on Tuesday, June 25th. JPMorgan Chase & Co. assumed coverage on Wave Life Sciences in a research note on Friday, September 27th. They issued an “overweight” rating and a $13.00 price objective on the stock. Finally, HC Wainwright boosted their price objective on Wave Life Sciences from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Wave Life Sciences Stock Down 0.5 %

Shares of WVE opened at $8.00 on Wednesday. Wave Life Sciences Ltd. has a 12-month low of $3.50 and a 12-month high of $9.92. The firm has a market capitalization of $979.80 million, a PE ratio of -15.38 and a beta of -1.10. The stock’s fifty day simple moving average is $6.30 and its 200-day simple moving average is $5.95.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly 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). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. The firm had revenue of $19.69 million for the quarter, compared to analyst estimates of $24.80 million. During the same period last year, the company earned ($0.20) EPS. Analysts anticipate that Wave Life Sciences Ltd. will post -1.02 EPS for the current year.

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.