Wave Life Sciences Ltd. (NASDAQ:WVE) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its position in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 72.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,563 shares of the company's stock after selling 97,264 shares during the quarter. SG Americas Securities LLC's holdings in Wave Life Sciences were worth $300,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Artal Group S.A. grew its holdings in Wave Life Sciences by 34.7% during the first quarter. Artal Group S.A. now owns 4,051,400 shares of the company's stock worth $24,997,000 after acquiring an additional 1,044,000 shares during the period. Emerald Advisers LLC purchased a new position in shares of Wave Life Sciences in the 2nd quarter valued at about $12,441,000. Price T Rowe Associates Inc. MD lifted its position in shares of Wave Life Sciences by 14.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,861,254 shares of the company's stock valued at $11,485,000 after acquiring an additional 233,891 shares during the period. Vanguard Group Inc. boosted its position in Wave Life Sciences by 39.7% during the first quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company's stock worth $11,316,000 after purchasing an additional 521,665 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in shares of Wave Life Sciences in the second quarter valued at $9,086,000. Institutional investors and hedge funds own 89.73% of the company's stock.

Wave Life Sciences Stock Up 4.8 %

Shares of WVE traded up $0.70 during mid-day trading on Friday, hitting $15.31. The company had a trading volume of 2,033,771 shares, compared to its average volume of 3,624,599. Wave Life Sciences Ltd. has a 1-year low of $3.50 and a 1-year high of $15.92. The business's 50-day simple moving average is $7.10 and its 200-day simple moving average is $6.22. The stock has a market cap of $1.88 billion, a PE ratio of -29.44 and a beta of -1.10.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.09). The company had revenue of $19.69 million during the quarter, compared to analyst estimates of $24.80 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. During the same quarter last year, the business earned ($0.20) EPS. On average, sell-side analysts expect that Wave Life Sciences Ltd. will post -1 earnings per share for the current year.

Insider Buying and Selling at Wave Life Sciences

In other Wave Life Sciences news, major shareholder Plc Gsk bought 2,791,930 shares of the company's stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the transaction, the insider now owns 16,775,691 shares in the company, valued at $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, major shareholder Plc Gsk purchased 2,791,930 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the acquisition, the insider now owns 16,775,691 shares in the company, valued at approximately $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Francis sold 208,836 shares of the business's stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $13.67, for a total value of $2,854,788.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 364,822 shares of company stock valued at $4,645,768. Company insiders own 29.10% of the company's stock.

Wall Street Analyst Weigh In

WVE has been the topic of several recent research reports. Mizuho reaffirmed an "outperform" rating and issued a $19.00 price target on shares of Wave Life Sciences in a report on Tuesday, June 25th. Leerink Partners boosted their price target on Wave Life Sciences from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Wednesday. HC Wainwright restated a "buy" rating and issued a $22.00 price objective on shares of Wave Life Sciences in a research report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Wave Life Sciences from $13.00 to $17.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Raymond James raised shares of Wave Life Sciences from an "outperform" rating to a "strong-buy" rating and raised their price target for the stock from $13.00 to $22.00 in a research note on Wednesday. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given 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 target price of $18.56.

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.