F M Investments LLC Acquires Shares of 226,034 Wave Life Sciences Ltd. (NASDAQ:WVE)

F M Investments LLC purchased a new position in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 226,034 shares of the company's stock, valued at approximately $2,796,000. F M Investments LLC owned about 0.15% of Wave Life Sciences as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its holdings in Wave Life Sciences by 209.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,617 shares of the company's stock worth $6,926,000 after acquiring an additional 571,345 shares during the period. FMR LLC raised its position in shares of Wave Life Sciences by 174.5% in the third quarter. FMR LLC now owns 1,540,190 shares of the company's stock valued at $12,630,000 after purchasing an additional 979,110 shares during the period. Barclays PLC grew its holdings in Wave Life Sciences by 171.1% during the 3rd quarter. Barclays PLC now owns 159,241 shares of the company's stock valued at $1,307,000 after buying an additional 100,498 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Wave Life Sciences by 14.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,269,664 shares of the company's stock valued at $18,615,000 after acquiring an additional 283,419 shares in the last quarter. Finally, State Street Corp increased its stake in Wave Life Sciences by 2.6% in the third 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 last quarter. Institutional investors and hedge funds own 89.73% of the company's stock.

Wave Life Sciences Stock Performance

NASDAQ:WVE traded down $0.23 during mid-day trading on Wednesday, reaching $6.05. 211,912 shares of the company's stock were exchanged, compared to its average volume of 1,181,601. The firm has a market capitalization of $928.59 million, a PE ratio of -5.45 and a beta of -0.93. The business's fifty day simple moving average is $9.21 and its two-hundred day simple moving average is $11.63. Wave Life Sciences Ltd. has a one year low of $4.25 and a one year high of $16.74.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last issued its earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share (EPS) 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 business had revenue of $83.75 million for the quarter, compared to analyst estimates of $25.60 million. As a group, equities research analysts forecast that Wave Life Sciences Ltd. will post -1.14 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Paul Bolno sold 169,025 shares of Wave Life Sciences stock in a transaction that occurred 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 sale, the chief executive officer now owns 338,351 shares in the company, valued at $3,238,019.07. This trade represents a 33.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Christian O. Henry sold 10,500 shares of the stock in a transaction on Thursday, March 20th. The shares were 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 directly owns 16,115 shares in the company, valued at approximately $157,443.55. This represents a 39.45 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 29.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. StockNews.com raised shares of Wave Life Sciences from a "sell" rating to a "hold" rating in a research report on Saturday, March 8th. HC Wainwright restated a "buy" rating and issued a $22.00 target price on shares of Wave Life Sciences in a report on Wednesday, March 26th. Wedbush assumed coverage on Wave Life Sciences in a research note on Tuesday, April 8th. They set an "outperform" rating and a $18.00 price objective for the company. Finally, Jefferies Financial Group began coverage on Wave Life Sciences in a research note on Tuesday, February 25th. They set a "buy" rating and a $26.00 price target on the stock. Two investment 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 company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.18.

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.