Maven Securities LTD acquired a new position in Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 850,000 shares of the company's stock, valued at approximately $6,970,000. Wave Life Sciences accounts for about 0.1% of Maven Securities LTD's portfolio, making the stock its 24th biggest position. Maven Securities LTD owned about 0.68% of Wave Life Sciences at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Wave Life Sciences by 23.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company's stock valued at $37,000 after acquiring an additional 856 shares in the last quarter. Profund Advisors LLC purchased a new stake in Wave Life Sciences in the 2nd quarter valued at $53,000. Principal Financial Group Inc. purchased a new stake in Wave Life Sciences in the 2nd quarter valued at $74,000. Mackenzie Financial Corp raised its position in Wave Life Sciences by 13.6% in the 2nd 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 last quarter. Finally, US Bancorp DE raised its position in Wave Life Sciences by 53.9% in the 3rd quarter. US Bancorp DE now owns 18,043 shares of the company's stock valued at $148,000 after buying an additional 6,316 shares during the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on WVE shares. StockNews.com lowered Wave Life Sciences from a "hold" rating to a "sell" rating in a research report on Wednesday, November 13th. Royal Bank of Canada raised their target price on Wave Life Sciences from $7.00 to $15.00 and gave the stock a "sector perform" rating in a research note on Monday, October 21st. Wells Fargo & Company raised their price target on Wave Life Sciences from $11.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Leerink Partners raised their price objective on Wave Life Sciences from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Finally, HC Wainwright reissued a "buy" rating and set a $22.00 price objective on shares of Wave Life Sciences in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $22.22.
View Our Latest Analysis on WVE
Wave Life Sciences Trading Up 3.3 %
Shares of WVE stock traded up $0.46 during trading hours on Wednesday, reaching $14.50. The company's stock had a trading volume of 859,617 shares, compared to its average volume of 1,110,744. Wave Life Sciences Ltd. has a one year low of $3.50 and a one year high of $16.74. The stock has a market capitalization of $2.21 billion, a P/E ratio of -12.65 and a beta of -1.21. The firm's fifty day simple moving average is $12.81 and its 200 day simple moving average is $8.28.
Insider Activity at Wave Life Sciences
In related news, major shareholder Plc Gsk acquired 2,791,930 shares of the stock in a transaction 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 purchase, the insider now owns 16,775,691 shares of the company's stock, valued at $134,205,528. This represents a 19.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kyle Moran sold 17,146 shares of the business's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total value of $154,314.00. Following the completion of the transaction, the chief financial officer now owns 19,777 shares of the company's stock, valued at $177,993. This represents a 46.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 453,690 shares of company stock worth $6,425,883 over the last ninety days. 29.10% of the stock is owned by corporate insiders.
Wave Life Sciences Company Profile
(
Free Report)
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.
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