Wave Life Sciences Ltd. (NASDAQ:WVE) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lessened its stake in Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,519,520 shares of the company's stock after selling 61,180 shares during the quarter. Primecap Management Co. CA owned 1.65% of Wave Life Sciences worth $31,166,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of WVE. KBC Group NV acquired a new position in shares of Wave Life Sciences in the 4th quarter valued at about $67,000. Point72 DIFC Ltd purchased a new stake in shares of Wave Life Sciences in the third quarter valued at approximately $98,000. Orion Portfolio Solutions LLC acquired a new position in shares of Wave Life Sciences during the 3rd quarter worth approximately $123,000. XTX Topco Ltd purchased a new position in shares of Wave Life Sciences during the 3rd quarter valued at approximately $126,000. Finally, Raymond James Financial Inc. acquired a new stake in Wave Life Sciences in the 4th quarter valued at $157,000. Institutional investors and hedge funds own 89.73% of the company's stock.

Insider Activity

In other Wave Life Sciences news, Director Christian O. Henry sold 10,500 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $9.77, for a total value of $102,585.00. Following the transaction, the director now owns 16,115 shares of the company's stock, valued at $157,443.55. This represents a 39.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Paul Bolno sold 169,025 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the completion of 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 position. The disclosure for this sale can be found here. Corporate insiders own 29.10% of the company's stock.

Remove Ads

Wave Life Sciences Price Performance

Shares of NASDAQ:WVE traded down $0.08 during midday trading on Friday, hitting $9.59. The company had a trading volume of 1,619,845 shares, compared to its average volume of 1,088,093. Wave Life Sciences Ltd. has a twelve month low of $4.25 and a twelve month high of $16.74. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -8.64 and a beta of -1.04. The business's 50-day simple moving average is $10.92 and its 200-day simple moving average is $11.50.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.34. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. The business had revenue of $83.75 million for the quarter, compared to analyst estimates of $25.60 million. As a group, sell-side analysts forecast that Wave Life Sciences Ltd. will post -1.14 EPS for the current year.

Wall Street Analyst Weigh In

WVE has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Wave Life Sciences from a "sell" rating to a "hold" rating in a research report on Saturday, March 8th. HC Wainwright reaffirmed a "buy" rating and issued a $22.00 price target on shares of Wave Life Sciences in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group initiated coverage on Wave Life Sciences in a report on Tuesday, February 25th. They issued a "buy" rating and a $26.00 price objective on the stock. Two analysts have rated the stock with a hold rating, eight have assigned 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 $22.60.

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.