Platinum Investment Management Ltd. decreased its stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 32.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 311,992 shares of the company's stock after selling 149,675 shares during the quarter. Platinum Investment Management Ltd. owned approximately 0.20% of Wave Life Sciences worth $3,859,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in WVE. KBC Group NV purchased a new position in shares of Wave Life Sciences during the fourth quarter valued at $67,000. Point72 DIFC Ltd purchased a new position in Wave Life Sciences during the 3rd quarter valued at about $98,000. Orion Portfolio Solutions LLC bought a new stake in shares of Wave Life Sciences in the 3rd quarter valued at about $123,000. XTX Topco Ltd purchased a new stake in shares of Wave Life Sciences in the 3rd quarter worth approximately $126,000. Finally, Raymond James Financial Inc. bought a new position in shares of Wave Life Sciences during the fourth quarter valued at approximately $157,000. 89.73% of the stock is owned by hedge funds and other institutional investors.
Wave Life Sciences Stock Performance
Wave Life Sciences stock traded down $0.08 during midday trading on Friday, hitting $9.59. 1,619,845 shares of the company were exchanged, compared to its average volume of 1,091,069. The firm has a market capitalization of $1.47 billion, a PE ratio of -8.64 and a beta of -1.04. The business has a fifty day simple moving average of $10.92 and a two-hundred day simple moving average of $11.55. Wave Life Sciences Ltd. has a fifty-two week low of $4.25 and a fifty-two week high of $16.74.
Wave Life Sciences (NASDAQ:WVE - Get Free Report) last posted its earnings results on Tuesday, March 4th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of ($0.17) by $0.34. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. The firm had revenue of $83.75 million for the quarter, compared to analysts' expectations of $25.60 million. As a group, equities analysts expect that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current year.
Insider Buying and Selling at Wave Life Sciences
In other Wave Life Sciences news, Director Christian O. Henry sold 10,500 shares of the company's stock in a transaction 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 transaction, the director now directly owns 16,115 shares in the company, valued at $157,443.55. This represents a 39.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paul Bolno sold 169,025 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $9.57, for a total value of $1,617,569.25. Following the completion of the sale, the chief executive officer now owns 338,351 shares in the company, valued at $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.
Analyst Ratings Changes
WVE has been the topic of a number of analyst reports. StockNews.com upgraded Wave Life Sciences from a "sell" rating to a "hold" rating in a report on Saturday, March 8th. Jefferies Financial Group began coverage on shares of Wave Life Sciences in a research report on Tuesday, February 25th. They issued a "buy" rating and a $26.00 price objective on the stock. Finally, HC Wainwright reissued a "buy" rating and set a $22.00 target price on shares of Wave Life Sciences in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $22.60.
Read Our Latest Research Report on Wave Life Sciences
Wave Life Sciences Company Profile
(
Free Report)
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.
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