Jacobs Levy Equity Management Inc. Sells 262,075 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

Jacobs Levy Equity Management Inc. lessened its holdings in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 71.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 104,526 shares of the company's stock after selling 262,075 shares during the period. Jacobs Levy Equity Management Inc. owned 0.08% of Wave Life Sciences worth $857,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Privium Fund Management B.V. acquired a new stake in shares of Wave Life Sciences in the 3rd quarter valued at approximately $400,000. Moody Aldrich Partners LLC raised its holdings in Wave Life Sciences by 69.0% in the third quarter. Moody Aldrich Partners LLC now owns 303,062 shares of the company's stock worth $2,485,000 after purchasing an additional 123,703 shares during the period. SG Americas Securities LLC bought a new position in shares of Wave Life Sciences during the second quarter worth $668,000. Cinctive Capital Management LP grew its holdings in shares of Wave Life Sciences by 255.7% in the 3rd quarter. Cinctive Capital Management LP now owns 356,308 shares of the company's stock valued at $2,922,000 after buying an additional 256,146 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Wave Life Sciences by 39.7% in the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company's stock valued at $11,316,000 after buying an additional 521,665 shares during the period. Institutional investors own 89.73% of the company's stock.

Insider Activity at Wave Life Sciences

In other news, major shareholder Plc Gsk purchased 2,791,930 shares of Wave Life Sciences stock in a transaction that occurred on Friday, September 27th. The stock was acquired at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the purchase, the insider now directly owns 16,775,691 shares of the company's stock, valued at $134,205,528. This trade represents a 19.97 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Francis sold 208,836 shares of the firm's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $13.67, for a total transaction of $2,854,788.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 453,690 shares of company stock worth $6,425,883. Company insiders own 29.10% of the company's stock.

Wave Life Sciences Stock Down 1.3 %

Shares of NASDAQ WVE traded down $0.20 during trading hours on Tuesday, hitting $14.97. The company had a trading volume of 753,464 shares, compared to its average volume of 1,105,884. The stock has a market capitalization of $2.28 billion, a P/E ratio of -13.48 and a beta of -1.21. Wave Life Sciences Ltd. has a 1-year low of $3.50 and a 1-year high of $16.74. The firm's 50 day moving average is $13.46 and its 200-day moving average is $8.59.

Analyst Ratings Changes

Several research analysts have weighed in on the company. StockNews.com lowered Wave Life Sciences from a "hold" rating to a "sell" rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price objective on Wave Life Sciences from $13.00 to $17.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Royal Bank of Canada increased their target price on Wave Life Sciences from $7.00 to $15.00 and gave the stock a "sector perform" rating in a research note on Monday, October 21st. Truist Financial lifted their price target on shares of Wave Life Sciences from $17.00 to $36.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Finally, B. Riley increased their price objective on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.22.

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.