Quantbot Technologies LP Takes Position in Wave Life Sciences Ltd. (NASDAQ:WVE)

Quantbot Technologies LP acquired a new stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 68,927 shares of the company's stock, valued at approximately $853,000.

Several other large investors have also modified their holdings of the stock. Victory Capital Management Inc. increased its position in shares of Wave Life Sciences by 16.6% in the fourth quarter. Victory Capital Management Inc. now owns 14,546 shares of the company's stock worth $180,000 after acquiring an additional 2,073 shares in the last quarter. Kraematon Investment Advisors Inc. grew its position in Wave Life Sciences by 24.3% during the 4th quarter. Kraematon Investment Advisors Inc. now owns 19,885 shares of the company's stock worth $246,000 after purchasing an additional 3,885 shares in the last quarter. KBC Group NV purchased a new position in Wave Life Sciences during the 4th quarter worth approximately $67,000. New York State Common Retirement Fund raised its stake in Wave Life Sciences by 6.8% during the 4th quarter. New York State Common Retirement Fund now owns 109,084 shares of the company's stock valued at $1,349,000 after purchasing an additional 6,900 shares during the period. Finally, Arizona State Retirement System lifted its holdings in shares of Wave Life Sciences by 34.2% in the fourth quarter. Arizona State Retirement System now owns 30,769 shares of the company's stock valued at $381,000 after purchasing an additional 7,846 shares in the last quarter. 89.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Wave Life Sciences news, CEO Paul Bolno sold 169,025 shares of Wave Life Sciences stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $9.57, for a total value of $1,617,569.25. Following the transaction, the chief executive officer now directly owns 338,351 shares of the company's stock, valued at $3,238,019.07. The trade was a 33.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Christian O. Henry sold 10,500 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $9.77, for a total value of $102,585.00. Following the completion of the sale, the director now directly owns 16,115 shares of the company's stock, valued at $157,443.55. This represents a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 29.10% of the company's stock.

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Wave Life Sciences Trading Down 4.3 %

NASDAQ WVE traded down $0.39 during trading on Friday, hitting $8.62. 1,207,276 shares of the company traded hands, compared to its average volume of 1,125,809. The company has a market capitalization of $1.32 billion, a P/E ratio of -7.77 and a beta of -1.04. The business has a fifty day simple moving average of $10.73 and a 200 day simple moving average of $11.73. Wave Life Sciences Ltd. has a 12 month low of $4.25 and a 12 month high of $16.74.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last posted its earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.34. 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 $83.75 million during the quarter, compared to analyst estimates of $25.60 million. Equities research analysts predict that Wave Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Analysts Set New Price Targets

WVE has been the topic of several recent analyst reports. HC Wainwright reissued a "buy" rating and set a $22.00 price target on shares of Wave Life Sciences in a research report on Wednesday. Jefferies Financial Group initiated coverage on shares of Wave Life Sciences in a report on Tuesday, February 25th. They set a "buy" rating and a $26.00 price target for the company. Finally, StockNews.com upgraded shares of Wave Life Sciences from a "sell" rating to a "hold" rating in a research note on Saturday, March 8th. Two equities 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's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.60.

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.