Connor Clark & Lunn Investment Management Ltd. lifted its stake in Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 19.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 387,871 shares of the company's stock after purchasing an additional 62,862 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.25% of Wave Life Sciences worth $4,798,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. boosted its stake in Wave Life Sciences by 16.6% during 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. boosted its position in shares of Wave Life Sciences by 24.3% in 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 stake in shares of Wave Life Sciences in the 4th quarter worth approximately $67,000. New York State Common Retirement Fund increased its position 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 buying an additional 6,900 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in Wave Life Sciences by 34.2% during the fourth quarter. Arizona State Retirement System now owns 30,769 shares of the company's stock valued at $381,000 after buying an additional 7,846 shares during the last quarter. 89.73% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Wave Life Sciences
In other news, CEO Paul Bolno sold 169,025 shares of the firm's 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 completion of the sale, the chief executive officer now directly owns 338,351 shares of the company's stock, valued at $3,238,019.07. This trade represents a 33.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 29.10% of the stock is currently owned by company insiders.
Wave Life Sciences Stock Down 3.7 %
WVE stock traded down $0.37 during midday trading on Thursday, hitting $9.67. The company's stock had a trading volume of 520,819 shares, compared to its average volume of 1,088,146. Wave Life Sciences Ltd. has a 12 month low of $4.25 and a 12 month high of $16.74. The company has a 50 day moving average of $11.01 and a two-hundred day moving average of $11.49. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -8.71 and a beta of -1.04.
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, beating the consensus estimate of ($0.17) by $0.34. The company 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%. On average, analysts anticipate that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research firms have recently issued reports on WVE. StockNews.com raised Wave Life Sciences from a "sell" rating to a "hold" rating in a research report on Saturday, March 8th. Mizuho boosted their target price on Wave Life Sciences from $19.00 to $22.00 and gave the stock an "outperform" rating in a research report on Thursday, November 21st. 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 on the stock. 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, March 5th. Two research analysts have rated the stock with a hold rating, eight have assigned 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.
Get Our Latest Analysis on Wave Life Sciences
Wave Life Sciences 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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