Marshall Wace LLP Decreases Stock Position in Wave Life Sciences Ltd. (NASDAQ:WVE)

Marshall Wace LLP cut its holdings in Wave Life Sciences Ltd. (NASDAQ:WVE) by 80.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,102 shares of the company’s stock after selling 251,303 shares during the period. Marshall Wace LLP’s holdings in Wave Life Sciences were worth $310,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ameritas Investment Partners Inc. lifted its holdings in Wave Life Sciences by 50.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after purchasing an additional 2,451 shares in the last quarter. Profund Advisors LLC acquired a new position in shares of Wave Life Sciences during the 2nd quarter valued at about $53,000. Principal Financial Group Inc. acquired a new position in shares of Wave Life Sciences during the 2nd quarter valued at about $74,000. Hsbc Holdings PLC acquired a new position in shares of Wave Life Sciences during the 2nd quarter valued at about $104,000. Finally, ProShare Advisors LLC increased its position in Wave Life Sciences by 35.0% during the 1st quarter. ProShare Advisors LLC now owns 21,764 shares of the company’s stock worth $134,000 after purchasing an additional 5,648 shares in the last quarter. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

Wave Life Sciences Price Performance

Shares of Wave Life Sciences stock opened at $8.61 on Friday. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -15.11 and a beta of -1.10. Wave Life Sciences Ltd. has a 52-week low of $3.50 and a 52-week high of $9.92. The stock has a 50-day simple moving average of $6.44 and a 200-day simple moving average of $6.00.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $19.69 million during the quarter, compared to the consensus estimate of $24.80 million. During the same period in the previous year, the business posted ($0.20) earnings per share. As a group, equities research analysts predict that Wave Life Sciences Ltd. will post -1.02 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. HC Wainwright increased their price objective on shares of Wave Life Sciences from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Royal Bank of Canada raised their price objective on Wave Life Sciences from $5.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Friday, October 4th. Mizuho restated an “outperform” rating and set 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 report on Friday, September 27th. They issued an “overweight” rating and a $13.00 target price on the stock. Finally, B. Riley raised their price target on Wave Life Sciences from $11.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Insiders Place Their Bets

In other news, CEO Paul Bolno sold 48,366 shares of Wave Life Sciences stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total transaction of $279,555.48. Following the sale, the chief executive officer now owns 359,059 shares of the company’s stock, valued at approximately $2,075,361.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Wave Life Sciences news, major shareholder Plc Gsk acquired 2,791,930 shares of Wave Life Sciences stock in a transaction on Friday, September 27th. The shares were bought at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the purchase, the insider now owns 16,775,691 shares in the company, valued at $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total value of $279,555.48. Following the sale, the chief executive officer now owns 359,059 shares of the company’s stock, valued at approximately $2,075,361.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 29.10% of the company’s stock.

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.