486,023 Shares in Wave Life Sciences Ltd. (NASDAQ:WVE) Acquired by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. purchased a new stake in Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 486,023 shares of the company's stock, valued at approximately $3,985,000. Polar Asset Management Partners Inc. owned about 0.39% of Wave Life Sciences as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in WVE. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Wave Life Sciences by 23.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company's stock valued at $37,000 after buying an additional 856 shares during the last quarter. Mackenzie Financial Corp grew its stake in Wave Life Sciences by 13.6% during the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company's stock valued at $79,000 after purchasing an additional 1,905 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Wave Life Sciences by 3.4% in the second quarter. Rhumbline Advisers now owns 125,834 shares of the company's stock valued at $628,000 after purchasing an additional 4,092 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Wave Life Sciences by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 139,790 shares of the company's stock worth $698,000 after purchasing an additional 4,914 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Wave Life Sciences by 53.9% in the third quarter. US Bancorp DE now owns 18,043 shares of the company's stock worth $148,000 after purchasing an additional 6,316 shares during the last quarter. Institutional investors and hedge funds own 89.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on WVE. Wells Fargo & Company upped their price target on shares of Wave Life Sciences from $11.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. HC Wainwright reaffirmed a "buy" rating and set a $22.00 target price on shares of Wave Life Sciences in a report on Wednesday, November 13th. Leerink Partners boosted their price target on Wave Life Sciences from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. StockNews.com cut shares of Wave Life Sciences from a "hold" rating to a "sell" rating in a research note on Wednesday, November 13th. Finally, B. Riley boosted their target price on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company a "buy" rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $22.22.

Insider Activity at Wave Life Sciences

In other news, CFO Kyle Moran sold 17,146 shares of Wave Life Sciences stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total value of $154,314.00. Following the completion of the sale, the chief financial officer now directly owns 19,777 shares of the company's stock, valued at approximately $177,993. The trade was a 46.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 purchase, the insider now owns 16,775,691 shares in the company, valued at $134,205,528. This represents a 19.97 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 453,690 shares of company stock worth $6,425,883. Company insiders own 29.10% of the company's stock.

Wave Life Sciences Price Performance

Shares of WVE stock traded down $0.06 during trading on Thursday, hitting $14.44. 739,724 shares of the stock traded hands, compared to its average volume of 1,110,372. Wave Life Sciences Ltd. has a 52-week low of $3.50 and a 52-week high of $16.74. The firm has a market capitalization of $2.20 billion, a P/E ratio of -13.01 and a beta of -1.21. The firm's fifty day moving average price is $13.05 and its 200-day moving average price is $8.37.

About Wave Life Sciences

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.