Principal Financial Group Inc. bought a new position in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 248,645 shares of the company's stock, valued at approximately $3,076,000. Principal Financial Group Inc. owned about 0.16% of Wave Life Sciences as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its position 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 worth $37,000 after purchasing an additional 856 shares in the last quarter. Kraematon Investment Advisors Inc. raised its position in shares of Wave Life Sciences by 24.3% during the 4th quarter. Kraematon Investment Advisors Inc. now owns 19,885 shares of the company's stock worth $246,000 after acquiring an additional 3,885 shares in the last quarter. KBC Group NV acquired a new stake in Wave Life Sciences during the fourth quarter worth approximately $67,000. US Bancorp DE raised its stake in Wave Life Sciences by 53.9% during the 3rd quarter. US Bancorp DE now owns 18,043 shares of the company's stock worth $148,000 after acquiring an additional 6,316 shares in the last quarter. Finally, GSA Capital Partners LLP raised its stake in Wave Life Sciences by 14.9% during the 3rd quarter. GSA Capital Partners LLP now owns 63,513 shares of the company's stock worth $521,000 after acquiring an additional 8,255 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have commented on the stock. Mizuho lifted their price objective 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. HC Wainwright reaffirmed a "buy" rating and set a $22.00 price objective on shares of Wave Life Sciences in a report on Wednesday. StockNews.com raised shares of Wave Life Sciences from a "sell" rating to a "hold" rating in a research note on Saturday. Truist Financial upped their price target on Wave Life Sciences from $17.00 to $36.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Finally, Jefferies Financial Group started coverage on Wave Life Sciences in a report on Tuesday, February 25th. They issued a "buy" rating and a $26.00 target price on the stock. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Wave Life Sciences has an average rating of "Moderate Buy" and an average price target of $22.60.
Check Out Our Latest Stock Report on WVE
Insider Buying and Selling at Wave Life Sciences
In other news, CEO Paul Bolno sold 169,025 shares of the business's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $9.57, for a total value of $1,617,569.25. Following the sale, the chief executive officer now 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 29.10% of the stock is currently owned by company insiders.
Wave Life Sciences Stock Down 7.7 %
Shares of WVE traded down $0.78 during trading on Friday, reaching $9.40. The company's stock had a trading volume of 1,764,710 shares, compared to its average volume of 939,773. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -8.47 and a beta of -1.09. The company has a fifty day moving average of $11.44 and a two-hundred day moving average of $11.21. Wave Life Sciences Ltd. has a twelve month low of $4.25 and a twelve month high of $16.74.
Wave Life Sciences (NASDAQ:WVE - Get Free Report) last issued its earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.34. The company had revenue of $83.75 million for the quarter, compared to analysts' expectations of $25.60 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. As a group, equities analysts forecast that Wave Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.
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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