Charles Schwab Investment Management Inc. Buys 69,852 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

Charles Schwab Investment Management Inc. lifted its position in Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 8.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 914,469 shares of the company's stock after acquiring an additional 69,852 shares during the period. Charles Schwab Investment Management Inc. owned 0.60% of Wave Life Sciences worth $11,312,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. KBC Group NV bought a new position in shares of Wave Life Sciences during the fourth quarter valued at approximately $67,000. Point72 DIFC Ltd bought a new position in shares of Wave Life Sciences during the third quarter valued at $98,000. Orion Portfolio Solutions LLC bought a new position in Wave Life Sciences in the 3rd quarter worth about $123,000. XTX Topco Ltd bought a new stake in Wave Life Sciences during the 3rd quarter valued at about $126,000. Finally, Weiss Asset Management LP bought a new stake in shares of Wave Life Sciences in the third quarter worth approximately $164,000. Hedge funds and other institutional investors own 89.73% of the company's stock.

Insider Activity at Wave Life Sciences

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

Remove Ads

Wave Life Sciences Stock Performance

NASDAQ:WVE traded down $0.63 during trading hours on Tuesday, reaching $9.44. The stock had a trading volume of 917,102 shares, compared to its average volume of 1,090,348. The stock has a market capitalization of $1.45 billion, a PE ratio of -8.50 and a beta of -1.04. Wave Life Sciences Ltd. has a 52 week low of $4.25 and a 52 week high of $16.74. The company has a 50 day moving average price of $10.89 and a two-hundred day moving average price of $11.63.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last announced its quarterly 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 net margin of 66.50% and a negative return on equity of 280.57%. The company had revenue of $83.75 million for the quarter, compared to analysts' expectations of $25.60 million. Equities research analysts predict that Wave Life Sciences Ltd. will post -1.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WVE. Jefferies Financial Group started coverage on shares of Wave Life Sciences in a research report on Tuesday, February 25th. They issued a "buy" rating and a $26.00 target price for the company. StockNews.com upgraded Wave Life Sciences from a "sell" rating to a "hold" rating in a research report on Saturday, March 8th. Finally, HC Wainwright reissued a "buy" rating and issued a $22.00 target price on shares of Wave Life Sciences in a report on Wednesday, March 5th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $22.60.

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.