RTW Investments LP acquired a new stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 900,000 shares of the company's stock, valued at approximately $7,380,000. RTW Investments LP owned approximately 0.72% of Wave Life Sciences at the end of the most recent quarter.
Several other large investors also recently modified their holdings of WVE. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Wave Life Sciences by 23.4% in 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 in the last quarter. Profund Advisors LLC acquired a new position in shares of Wave Life Sciences during the second quarter worth approximately $53,000. Principal Financial Group Inc. bought a new stake in shares of Wave Life Sciences during the second quarter valued at approximately $74,000. Mackenzie Financial Corp increased its holdings in shares of Wave Life Sciences by 13.6% in the second 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 in the last quarter. Finally, Point72 DIFC Ltd bought a new position in Wave Life Sciences in the 3rd quarter worth approximately $98,000. 89.73% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the company. Raymond James raised Wave Life Sciences from an "outperform" rating to a "strong-buy" rating and lifted their target price for the company from $13.00 to $22.00 in a research note on Wednesday, October 16th. Leerink Partners upped their target price on shares of Wave Life Sciences from $20.00 to $22.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. StockNews.com cut shares of Wave Life Sciences from a "hold" rating to a "sell" rating in a research report on Wednesday, November 13th. Mizuho increased their price objective on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company an "outperform" rating in a report on Thursday, November 21st. Finally, B. Riley upped their price target on 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 equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $22.22.
View Our Latest Stock Report on WVE
Wave Life Sciences Trading Down 0.5 %
Shares of WVE stock traded down $0.07 during trading on Thursday, hitting $14.43. The company had a trading volume of 251,081 shares, compared to its average volume of 1,108,228. Wave Life Sciences Ltd. has a one year low of $3.50 and a one year high of $16.74. The stock's 50-day moving average price is $12.92 and its 200 day moving average price is $8.33.
Insider Buying and Selling
In other Wave Life Sciences news, CEO Paul Bolno sold 50,000 shares of the company's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $15.00, for a total value of $750,000.00. Following the completion of the transaction, the chief executive officer now owns 217,351 shares of the company's stock, valued at $3,260,265. This represents a 18.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kyle Moran sold 17,146 shares of the business's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total value of $154,314.00. Following the sale, the chief financial officer now owns 19,777 shares in the company, valued at approximately $177,993. This trade represents a 46.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, 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 Profile
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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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