Fmr LLC Raises Stock Holdings in Wave Life Sciences Ltd. (NASDAQ:WVE)

FMR LLC lifted its stake in Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 174.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,540,190 shares of the company's stock after purchasing an additional 979,110 shares during the quarter. FMR LLC owned 1.23% of Wave Life Sciences worth $12,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its position in Wave Life Sciences by 23.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company's stock worth $37,000 after buying an additional 856 shares during the last quarter. Profund Advisors LLC purchased a new position in Wave Life Sciences in the 2nd quarter worth about $53,000. Principal Financial Group Inc. purchased a new position in Wave Life Sciences in the 2nd quarter worth about $74,000. Mackenzie Financial Corp raised its position in Wave Life Sciences by 13.6% in the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company's stock worth $79,000 after buying an additional 1,905 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in Wave Life Sciences in the 2nd quarter worth about $104,000. Hedge funds and other institutional investors own 89.73% of the company's stock.

Insider Activity at Wave Life Sciences

In other Wave Life Sciences news, major shareholder Plc Gsk purchased 2,791,930 shares of the company's stock in a transaction on Friday, September 27th. The stock was acquired at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the purchase, the insider now directly owns 16,775,691 shares of the company's stock, valued at $134,205,528. This trade represents a 19.97 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Paul Bolno sold 90,474 shares of the company's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $15.00, for a total value of $1,357,110.00. Following the completion of the transaction, the chief executive officer now owns 268,585 shares of the company's stock, valued at $4,028,775. The trade was a 25.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 453,690 shares of company stock worth $6,425,883. 29.10% of the stock is owned by company insiders.

Wave Life Sciences Price Performance

Shares of NASDAQ:WVE traded down $1.53 during mid-day trading on Thursday, reaching $13.88. 1,366,580 shares of the company traded hands, compared to its average volume of 1,105,266. The company's 50 day moving average price is $13.59 and its 200-day moving average price is $8.63. The firm has a market cap of $2.12 billion, a PE ratio of -12.87 and a beta of -1.21. Wave Life Sciences Ltd. has a 52 week low of $3.50 and a 52 week high of $16.74.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on WVE shares. StockNews.com lowered Wave Life Sciences from a "hold" rating to a "sell" rating in a research report on Wednesday, November 13th. HC Wainwright reissued a "buy" rating and issued a $22.00 target price on shares of Wave Life Sciences in a research report on Wednesday, November 13th. Leerink Partners boosted their target price on Wave Life Sciences from $20.00 to $22.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Truist Financial boosted their price target on Wave Life Sciences from $17.00 to $36.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada boosted their price target on Wave Life Sciences from $7.00 to $15.00 and gave the company a "sector perform" rating in a research note on Monday, October 21st. One investment 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 stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $22.22.

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.