Bank of New York Mellon Corp Increases Stock Position in Wave Life Sciences Ltd. (NASDAQ:WVE)

Bank of New York Mellon Corp boosted its stake in Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 21.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 244,973 shares of the company's stock after purchasing an additional 43,143 shares during the quarter. Bank of New York Mellon Corp owned about 0.16% of Wave Life Sciences worth $3,030,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Kraematon Investment Advisors Inc. grew its holdings in Wave Life Sciences by 24.3% in the fourth quarter. Kraematon Investment Advisors Inc. now owns 19,885 shares of the company's stock worth $246,000 after purchasing an additional 3,885 shares during the period. KBC Group NV acquired a new position in shares of Wave Life Sciences during the fourth quarter valued at about $67,000. New York State Common Retirement Fund increased its position in shares of Wave Life Sciences by 6.8% during the fourth quarter. New York State Common Retirement Fund now owns 109,084 shares of the company's stock worth $1,349,000 after acquiring an additional 6,900 shares in the last quarter. GSA Capital Partners LLP increased its position in shares of Wave Life Sciences by 14.9% during the third 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. Finally, James J. Burns & Company LLC increased its position in shares of Wave Life Sciences by 11.0% during the fourth quarter. James J. Burns & Company LLC now owns 111,111 shares of the company's stock worth $1,374,000 after acquiring an additional 11,000 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several equities research analysts have recently commented on WVE shares. HC Wainwright reissued a "buy" rating and set a $22.00 target price on shares of Wave Life Sciences in a research report on Wednesday, March 5th. Jefferies Financial Group started coverage on shares of Wave Life Sciences in a research report on Tuesday, February 25th. They set a "buy" rating and a $26.00 target price for the company. Finally, StockNews.com raised shares of Wave Life Sciences from a "sell" rating to a "hold" rating in a research report on Saturday, March 8th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wave Life Sciences has an average rating of "Moderate Buy" and a consensus price target of $22.60.

Wave Life Sciences Stock Down 0.8 %

WVE stock traded down $0.08 during trading on Friday, reaching $9.59. The stock had a trading volume of 1,619,845 shares, compared to its average volume of 1,091,069. Wave Life Sciences Ltd. has a one year low of $4.25 and a one year high of $16.74. The company's 50 day moving average is $10.92 and its two-hundred day moving average is $11.55. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -8.64 and a beta of -1.04.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last issued its quarterly earnings data on Tuesday, March 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.17) by $0.34. The business had revenue of $83.75 million during the quarter, compared to the consensus estimate 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, research analysts predict that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Wave Life Sciences

In other Wave Life Sciences news, CEO Paul Bolno sold 169,025 shares of the business's stock in a transaction dated 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 directly owns 338,351 shares in the company, valued at $3,238,019.07. The trade was a 33.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christian O. Henry sold 10,500 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $9.77, for a total transaction of $102,585.00. Following the sale, the director now owns 16,115 shares in the company, valued at $157,443.55. The trade was a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.