Baker BROS. Advisors LP Invests $2.82 Million in Wave Life Sciences Ltd. (NASDAQ:WVE)

Baker BROS. Advisors LP bought a new position in Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 344,063 shares of the company's stock, valued at approximately $2,821,000. Baker BROS. Advisors LP owned about 0.28% of Wave Life Sciences as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of WVE. Mirae Asset Global Investments Co. Ltd. grew its stake 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 worth $37,000 after acquiring an additional 856 shares during the period. Profund Advisors LLC bought a new stake in shares of Wave Life Sciences in the second quarter worth approximately $53,000. Principal Financial Group Inc. bought a new stake in shares of Wave Life Sciences in the second quarter worth approximately $74,000. Mackenzie Financial Corp grew its stake 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 worth $79,000 after acquiring an additional 1,905 shares during the period. Finally, US Bancorp DE grew its stake 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 worth $148,000 after acquiring an additional 6,316 shares during the period. 89.73% of the stock is owned by hedge funds and other institutional investors.

Wave Life Sciences Price Performance

Shares of WVE stock traded up $0.17 during mid-day trading on Monday, hitting $15.27. The company had a trading volume of 1,463,240 shares, compared to its average volume of 1,112,274. Wave Life Sciences Ltd. has a 52-week low of $3.50 and a 52-week high of $16.74. The stock's 50 day moving average price is $12.49 and its 200-day moving average price is $8.16.

Insider Transactions at Wave Life Sciences

In related news, insider Chris Francis sold 36,000 shares of the company's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $16.00, for a total transaction of $576,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kyle Moran sold 17,146 shares of the company's stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total transaction of $154,314.00. Following the sale, the chief financial officer now directly owns 19,777 shares in the company, valued at approximately $177,993. The trade was a 46.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 453,690 shares of company stock valued at $6,425,883. 29.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

WVE has been the subject of several recent research reports. Raymond James upgraded shares of Wave Life Sciences from an "outperform" rating to a "strong-buy" rating and boosted their target price for the company from $13.00 to $22.00 in a research report on Wednesday, October 16th. StockNews.com lowered shares of Wave Life Sciences from a "hold" rating to a "sell" rating in a research report on Wednesday, November 13th. Mizuho boosted their target price on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company an "outperform" rating in a research report on Thursday, November 21st. Leerink Partners lifted their price target on shares of Wave Life Sciences from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their price target on shares of Wave Life Sciences from $11.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $22.22.

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.