Wave Life Sciences Ltd. (NASDAQ:WVE) Position Raised by US Bancorp DE

US Bancorp DE increased its position in Wave Life Sciences Ltd. (NASDAQ:WVE) by 53.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,043 shares of the company’s stock after acquiring an additional 6,316 shares during the period. US Bancorp DE’s holdings in Wave Life Sciences were worth $148,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Wave Life Sciences by 23.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock worth $37,000 after buying an additional 856 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in Wave Life Sciences by 50.2% during 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 $53,000. Principal Financial Group Inc. bought a new stake in shares of Wave Life Sciences in the 2nd quarter worth $74,000. Finally, Mackenzie Financial Corp lifted its holdings in shares of Wave Life Sciences by 13.6% in the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after buying an additional 1,905 shares during the period. 89.73% of the stock is currently owned by institutional investors.

Wave Life Sciences Price Performance

Shares of Wave Life Sciences stock opened at $13.67 on Friday. The company has a market cap of $1.71 billion, a PE ratio of -12.32 and a beta of -1.20. The firm has a fifty day moving average price of $10.76 and a two-hundred day moving average price of $7.52. Wave Life Sciences Ltd. has a fifty-two week low of $3.50 and a fifty-two week high of $16.74.

Wave Life Sciences (NASDAQ:WVE) last released its earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.19). Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. The firm had revenue of ($7.68) million for the quarter, compared to analyst estimates of $15.45 million. Analysts expect that Wave Life Sciences Ltd. will post -1.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WVE has been the topic of a number of research analyst reports. StockNews.com lowered Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Wednesday. B. Riley upped their price target on Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a report on Monday, November 4th. HC Wainwright restated a “buy” rating and issued a $22.00 target price on shares of Wave Life Sciences in a report on Wednesday. Wells Fargo & Company upped 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. Finally, Raymond James raised Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $13.00 to $22.00 in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.89.

Insider Buying and Selling

In related news, 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 $2,075,361.02. The trade was a 11.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Plc Gsk acquired 2,791,930 shares of the company’s 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 directly owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This represents a 19.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 452,056 shares of company stock valued at $5,955,438 over the last ninety days. 29.10% of the stock is owned by company insiders.

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.