Geode Capital Management LLC Increases Position in Wave Life Sciences Ltd. (NASDAQ:WVE)

Geode Capital Management LLC raised its holdings in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 8.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,470,751 shares of the company's stock after acquiring an additional 201,087 shares during the quarter. Geode Capital Management LLC owned approximately 1.62% of Wave Life Sciences worth $30,571,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in WVE. KBC Group NV bought a new stake in Wave Life Sciences in the 4th quarter valued at $67,000. Raymond James Financial Inc. bought a new stake in Wave Life Sciences in the 4th quarter worth approximately $157,000. Victory Capital Management Inc. boosted its position in shares of Wave Life Sciences by 16.6% during the 4th quarter. Victory Capital Management Inc. now owns 14,546 shares of the company's stock valued at $180,000 after acquiring an additional 2,073 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new position in shares of Wave Life Sciences in the third quarter valued at $123,000. Finally, XTX Topco Ltd bought a new stake in Wave Life Sciences in the third quarter worth $126,000. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

Wave Life Sciences Trading Up 7.2 %

Shares of WVE traded up $0.44 during midday trading on Tuesday, reaching $6.56. 1,512,356 shares of the stock were exchanged, compared to its average volume of 1,200,221. The company's 50 day moving average is $8.73 and its two-hundred day moving average is $11.55. The company has a market capitalization of $1.01 billion, a P/E ratio of -5.91 and a beta of -0.93. Wave Life Sciences Ltd. has a 52 week low of $4.25 and a 52 week 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 (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.34. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. The company had revenue of $83.75 million for the quarter, compared to analysts' expectations of $25.60 million. On average, sell-side analysts expect that Wave Life Sciences Ltd. will post -1.14 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on WVE shares. HC Wainwright reiterated a "buy" rating and set a $22.00 price objective on shares of Wave Life Sciences in a research report on Wednesday, March 26th. Jefferies Financial Group started coverage on shares of Wave Life Sciences in a report on Tuesday, February 25th. They issued a "buy" rating and a $26.00 price target for the company. StockNews.com upgraded Wave Life Sciences from a "sell" rating to a "hold" rating in a research report on Saturday, March 8th. Finally, Wedbush initiated coverage on shares of Wave Life Sciences in a research note on Tuesday, April 8th. They issued an "outperform" rating and a $18.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $22.18.

Insider Buying and Selling at Wave Life Sciences

In other news, CEO Paul Bolno sold 169,025 shares of Wave Life Sciences stock in a transaction that occurred 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 transaction, the chief executive officer now owns 338,351 shares of the company's stock, valued at $3,238,019.07. The trade was a 33.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christian O. Henry sold 10,500 shares of the business's stock in a transaction that occurred 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 owns 16,115 shares of the company's stock, valued at approximately $157,443.55. This trade represents a 39.45 % decrease in their position. The disclosure for this sale can be found here. 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.