Adage Capital Partners GP L.L.C. Has $119.03 Million Stock Holdings in Wave Life Sciences Ltd. (NASDAQ:WVE)

Adage Capital Partners GP L.L.C. trimmed its holdings in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,622,104 shares of the company's stock after selling 81,247 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 6.31% of Wave Life Sciences worth $119,025,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of WVE. KBC Group NV acquired a new stake in shares of Wave Life Sciences during the 4th quarter valued at about $67,000. Summit Investment Advisors Inc. raised its position in Wave Life Sciences by 31.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company's stock valued at $119,000 after acquiring an additional 2,308 shares in the last quarter. Westwood Wealth Management acquired a new stake in Wave Life Sciences in the fourth quarter valued at approximately $124,000. Raymond James Financial Inc. bought a new stake in Wave Life Sciences in the fourth quarter worth approximately $157,000. Finally, Victory Capital Management Inc. increased its stake in shares of Wave Life Sciences by 16.6% during the 4th quarter. Victory Capital Management Inc. now owns 14,546 shares of the company's stock worth $180,000 after purchasing an additional 2,073 shares during the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Wave Life Sciences

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wedbush started coverage on shares of Wave Life Sciences in a research note on Tuesday, April 8th. They issued an "outperform" rating and a $18.00 price objective for the company. Jefferies Financial Group initiated coverage on Wave Life Sciences in a research report on Tuesday, February 25th. They issued a "buy" rating and a $26.00 price target for the company. StockNews.com raised Wave Life Sciences from a "sell" rating to a "hold" rating in a report on Saturday, March 8th. Finally, HC Wainwright reissued a "buy" rating and issued a $22.00 price objective on shares of Wave Life Sciences in a research note on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.18.

Wave Life Sciences Stock Up 7.2 %

Shares of WVE stock opened at $6.56 on Wednesday. The stock has a 50 day moving average of $8.73 and a 200-day moving average of $11.55. The firm has a market cap of $1.01 billion, a PE ratio of -5.91 and a beta of -0.93. 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 released its earnings results on Tuesday, March 4th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.34. The firm had revenue of $83.75 million during the quarter, compared to analysts' expectations of $25.60 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. As a group, equities analysts predict that Wave Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Wave Life Sciences 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.

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