100,000 Shares in Wave Life Sciences Ltd. (NASDAQ:WVE) Acquired by Norges Bank

Norges Bank bought a new position in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 100,000 shares of the company's stock, valued at approximately $1,237,000. Norges Bank owned approximately 0.07% of Wave Life Sciences as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of WVE. BNP Paribas Financial Markets lifted its position in shares of Wave Life Sciences by 477.7% in the third quarter. BNP Paribas Financial Markets now owns 41,828 shares of the company's stock worth $343,000 after buying an additional 34,588 shares during the last quarter. State Street Corp increased its stake in Wave Life Sciences by 2.6% during 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 period. Jane Street Group LLC raised its stake in shares of Wave Life Sciences by 33.3% in the third quarter. Jane Street Group LLC now owns 142,014 shares of the company's stock valued at $1,165,000 after purchasing an additional 35,472 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Wave Life Sciences during the 3rd quarter worth about $126,000. Finally, Orion Portfolio Solutions LLC bought a new position in Wave Life Sciences during the third quarter worth about $123,000. 89.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Wave Life Sciences news, Director Christian O. Henry sold 10,500 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $9.77, for a total transaction of $102,585.00. Following the completion of the transaction, the director now owns 16,115 shares of the company's stock, valued at $157,443.55. This represents a 39.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Paul Bolno sold 169,025 shares of the 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 transaction, the chief executive officer now directly owns 338,351 shares of the company's stock, valued at approximately $3,238,019.07. The trade was a 33.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 29.10% of the company's stock.

Wave Life Sciences Stock Performance

Shares of Wave Life Sciences stock traded down $0.03 during mid-day trading on Thursday, hitting $5.81. 175,246 shares of the stock were exchanged, compared to its average volume of 1,183,277. The company has a market capitalization of $891.75 million, a P/E ratio of -5.23 and a beta of -0.93. The company has a 50-day simple moving average of $9.10 and a 200 day simple moving average of $11.59. Wave Life Sciences Ltd. has a 12 month low of $4.25 and a 12 month high of $16.74.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating 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 company had revenue of $83.75 million for the quarter, compared to analyst estimates of $25.60 million. Analysts predict that Wave Life Sciences Ltd. will post -1.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Wave Life Sciences in a research note on Tuesday, February 25th. They issued a "buy" rating and a $26.00 target price for the company. StockNews.com upgraded shares of Wave Life Sciences from a "sell" rating to a "hold" rating in a report on Saturday, March 8th. Wedbush started coverage on Wave Life Sciences in a research report on Tuesday, April 8th. They set an "outperform" rating and a $18.00 target price for the company. Finally, HC Wainwright reissued a "buy" rating and issued a $22.00 price target on shares of Wave Life Sciences in a report on Wednesday, March 26th. Two 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 stock. According to data from MarketBeat, Wave Life Sciences has a consensus rating of "Moderate Buy" and an average target price of $22.18.

Wave Life Sciences Company 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.