Point72 Asset Management L.P. Has $230,000 Holdings in Wave Life Sciences Ltd. (NASDAQ:WVE)

Point72 Asset Management L.P. trimmed its stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 75.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,096 shares of the company's stock after selling 87,382 shares during the quarter. Point72 Asset Management L.P.'s holdings in Wave Life Sciences were worth $230,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in WVE. Vanguard Group Inc. grew its holdings 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 acquiring an additional 521,665 shares during the period. SG Americas Securities LLC acquired a new stake in Wave Life Sciences during the 2nd quarter worth about $668,000. Bank of New York Mellon Corp lifted its stake in Wave Life Sciences by 13.9% during the second quarter. Bank of New York Mellon Corp now owns 225,402 shares of the company's stock valued at $1,125,000 after buying an additional 27,524 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Wave Life Sciences by 75.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,491 shares of the company's stock worth $167,000 after buying an additional 14,371 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in shares of Wave Life Sciences in the second quarter worth approximately $74,000. 89.73% of the stock is owned by institutional investors and hedge funds.

Wave Life Sciences Trading Down 3.0 %

Wave Life Sciences stock traded down $0.41 on Friday, reaching $13.44. 818,777 shares of the stock were exchanged, compared to its average volume of 1,106,156. Wave Life Sciences Ltd. has a twelve month low of $3.50 and a twelve month high of $16.74. The firm has a fifty day moving average price of $13.80 and a two-hundred day moving average price of $8.72. The stock has a market cap of $2.05 billion, a PE ratio of -12.11 and a beta of -1.21.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Leerink Partners raised their price objective on shares of Wave Life Sciences from $20.00 to $22.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Raymond James upgraded Wave Life Sciences from an "outperform" rating to a "strong-buy" rating and raised their price objective for the stock from $13.00 to $22.00 in a research report on Wednesday, October 16th. Truist Financial raised their price target on shares of Wave Life Sciences from $17.00 to $36.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Mizuho lifted their target price on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company an "outperform" rating in a research note on Thursday, November 21st. Finally, B. Riley boosted their price target on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company a "buy" rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Wave Life Sciences has an average rating of "Moderate Buy" and an average price target of $22.22.

Insider Buying and Selling

In other news, CFO Kyle Moran sold 17,146 shares of the company's stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total transaction of $154,314.00. Following the completion of the transaction, the chief financial officer now owns 19,777 shares of the company's stock, valued at approximately $177,993. This represents a 46.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Plc Gsk bought 2,791,930 shares of the firm's stock in a transaction that occurred on Friday, September 27th. The shares were purchased at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the transaction, the insider now owns 16,775,691 shares of the company's stock, valued at $134,205,528. This represents a 19.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 453,690 shares of company stock valued at $6,425,883. Insiders own 29.10% of the company's stock.

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.