Cinctive Capital Management LP Sells 164,345 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

Cinctive Capital Management LP reduced its stake in Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 46.1% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 191,963 shares of the company's stock after selling 164,345 shares during the quarter. Cinctive Capital Management LP owned 0.13% of Wave Life Sciences worth $2,375,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Wave Life Sciences by 10.2% in the fourth quarter. Vanguard Group Inc. now owns 3,182,512 shares of the company's stock worth $39,368,000 after buying an additional 294,956 shares during the last quarter. Emerald Advisers LLC increased its holdings in Wave Life Sciences by 9.7% in the 4th quarter. Emerald Advisers LLC now owns 3,162,369 shares of the company's stock worth $39,119,000 after acquiring an additional 280,859 shares during the last quarter. Geode Capital Management LLC increased its holdings in Wave Life Sciences by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 2,470,751 shares of the company's stock worth $30,571,000 after acquiring an additional 201,087 shares during the last quarter. State Street Corp raised its stake in Wave Life Sciences by 2.6% in the 3rd quarter. State Street Corp now owns 2,321,248 shares of the company's stock valued at $19,034,000 after acquiring an additional 57,822 shares during the period. Finally, Loomis Sayles & Co. L P purchased a new stake in Wave Life Sciences during the fourth quarter valued at about $20,545,000. Institutional investors own 89.73% of the company's stock.

Wall Street Analyst Weigh In

WVE has been the subject of several recent research reports. StockNews.com upgraded shares of Wave Life Sciences from a "sell" rating to a "hold" rating in a research note on Saturday, March 8th. HC Wainwright reissued a "buy" rating and set a $22.00 target price on shares of Wave Life Sciences in a report on Wednesday, March 26th. Jefferies Financial Group began coverage on Wave Life Sciences in a research report on Tuesday, February 25th. They set a "buy" rating and a $26.00 target price on the stock. Finally, Wedbush initiated coverage on Wave Life Sciences in a research report on Tuesday. They issued an "outperform" rating and a $18.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $22.18.

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Wave Life Sciences Stock Performance

Wave Life Sciences stock traded up $0.07 during midday trading on Tuesday, hitting $5.87. 437,521 shares of the company's stock were exchanged, compared to its average volume of 1,159,116. The stock has a 50-day moving average price of $10.17 and a two-hundred day moving average price of $11.77. Wave Life Sciences Ltd. has a 52-week low of $4.25 and a 52-week high of $16.74. The company has a market cap of $900.96 million, a P/E ratio of -5.30 and a beta of -0.93.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last issued its quarterly earnings data on Tuesday, March 4th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.34. The company had revenue of $83.75 million during the quarter, compared to analyst estimates of $25.60 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. As a group, sell-side analysts expect that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current year.

Insider Transactions at Wave Life Sciences

In other news, CEO Paul Bolno sold 169,025 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 338,351 shares in the company, valued at approximately $3,238,019.07. This represents a 33.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were sold at an average price of $9.77, for a total value of $102,585.00. Following 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 disclosure for this sale can be found here. Insiders own 29.10% of the company's stock.

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.