Primecap Management Co. CA Decreases Stake in Wave Life Sciences Ltd. (NASDAQ:WVE)

Primecap Management Co. CA cut its position in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 3.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,580,700 shares of the company's stock after selling 83,516 shares during the quarter. Primecap Management Co. CA owned 2.07% of Wave Life Sciences worth $21,162,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Artal Group S.A. grew its position in shares of Wave Life Sciences by 34.7% in the first quarter. Artal Group S.A. now owns 4,051,400 shares of the company's stock valued at $24,997,000 after purchasing an additional 1,044,000 shares during the last quarter. Emerald Advisers LLC grew its holdings in Wave Life Sciences by 15.6% during the 3rd quarter. Emerald Advisers LLC now owns 2,881,510 shares of the company's stock valued at $23,628,000 after buying an additional 388,280 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its position in Wave Life Sciences by 16.6% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 2,123,466 shares of the company's stock worth $17,412,000 after buying an additional 302,528 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Wave Life Sciences by 14.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,861,254 shares of the company's stock valued at $11,485,000 after acquiring an additional 233,891 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Wave Life Sciences by 39.7% during the first quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company's stock valued at $11,316,000 after acquiring an additional 521,665 shares during the last quarter. Institutional investors and hedge funds own 89.73% of the company's stock.

Insider Transactions at Wave Life Sciences

In other Wave Life Sciences news, CFO Kyle Moran sold 17,146 shares of the firm'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 transaction, the chief financial officer now directly owns 19,777 shares of the company's stock, valued at $177,993. This trade represents a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Plc Gsk bought 2,791,930 shares of the firm's stock in a transaction dated Friday, September 27th. The stock was bought at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the transaction, the insider now directly owns 16,775,691 shares of the company's stock, valued at approximately $134,205,528. This trade represents a 19.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 403,690 shares of company stock worth $5,675,883. 29.10% of the stock is currently owned by company insiders.

Wave Life Sciences Stock Performance

Wave Life Sciences stock traded down $0.08 during midday trading on Friday, reaching $14.27. The stock had a trading volume of 455,835 shares, compared to its average volume of 1,113,841. The stock's 50-day simple moving average is $11.40 and its 200 day simple moving average is $7.75. Wave Life Sciences Ltd. has a twelve month low of $3.50 and a twelve month high of $16.74. The stock has a market capitalization of $2.18 billion, a PE ratio of -12.93 and a beta of -1.20.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WVE. Mizuho boosted their target price 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. Royal Bank of Canada upped their price objective on shares of 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. B. Riley raised their target price on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Raymond James upgraded Wave Life Sciences from an "outperform" rating to a "strong-buy" rating and boosted their price target for the company from $13.00 to $22.00 in a report on Wednesday, October 16th. Finally, Wells Fargo & Company raised their price objective on Wave Life Sciences from $11.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $22.22.

Wave Life Sciences 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.