Martingale Asset Management L P Cuts Stock Holdings in Wave Life Sciences Ltd. (NASDAQ:WVE)

Martingale Asset Management L P decreased its stake in Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 90.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,300 shares of the company's stock after selling 100,899 shares during the period. Martingale Asset Management L P's holdings in Wave Life Sciences were worth $127,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of WVE. Barclays PLC boosted its holdings in shares of Wave Life Sciences by 171.1% in the third quarter. Barclays PLC now owns 159,241 shares of the company's stock worth $1,307,000 after buying an additional 100,498 shares during the period. Geode Capital Management LLC raised its holdings in 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 during the period. State Street Corp raised its position in shares of 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 buying an additional 57,822 shares in the last quarter. Moody Aldrich Partners LLC lifted its holdings in shares of Wave Life Sciences by 31.5% during the 4th quarter. Moody Aldrich Partners LLC now owns 398,475 shares of the company's stock worth $4,929,000 after acquiring an additional 95,413 shares during the period. Finally, XTX Topco Ltd bought a new position in Wave Life Sciences in the third quarter valued at approximately $126,000. Institutional investors and hedge funds own 89.73% of the company's stock.

Insider Buying and Selling at Wave Life Sciences

In related news, 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 transaction of $102,585.00. Following the completion of the sale, the director now owns 16,115 shares in the company, valued at approximately $157,443.55. This trade represents a 39.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Paul Bolno sold 169,025 shares of Wave Life Sciences stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders own 29.10% of the company's stock.

Wave Life Sciences Stock Performance

Shares of WVE stock traded up $0.08 during mid-day trading on Friday, hitting $5.92. The company's stock had a trading volume of 947,955 shares, compared to its average volume of 1,194,030. The company has a market cap of $908.64 million, a PE ratio of -5.33 and a beta of -0.93. The company's fifty day simple moving average is $8.92 and its 200-day simple moving average is $11.60. Wave Life Sciences Ltd. has a 52 week low of $4.25 and a 52 week 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 for the quarter, topping analysts' consensus estimates of ($0.17) by $0.34. The business had revenue of $83.75 million during the quarter, compared to the consensus estimate of $25.60 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. On average, equities analysts anticipate that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current year.

Analyst Ratings Changes

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

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.