Walleye Capital LLC Lowers Holdings in Wave Life Sciences Ltd. (NASDAQ:WVE)

Walleye Capital LLC cut its stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 12.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 526,698 shares of the company's stock after selling 75,743 shares during the quarter. Walleye Capital LLC owned 0.35% of Wave Life Sciences worth $6,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of WVE. KBC Group NV bought a new position in Wave Life Sciences during the 4th quarter valued at approximately $67,000. Summit Investment Advisors Inc. lifted its stake in Wave Life Sciences by 31.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company's stock worth $119,000 after acquiring an additional 2,308 shares during the period. Westwood Wealth Management bought a new stake in Wave Life Sciences in the fourth quarter valued at $124,000. Raymond James Financial Inc. purchased a new position in Wave Life Sciences during the 4th quarter valued at $157,000. Finally, Victory Capital Management Inc. increased its position in 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 purchasing an additional 2,073 shares during the period. 89.73% of the stock is currently owned by institutional investors.

Wave Life Sciences Stock Up 9.9 %

Shares of NASDAQ WVE traded up $0.59 during midday trading on Monday, hitting $6.51. The stock had a trading volume of 439,364 shares, compared to its average volume of 1,191,310. The business's 50 day moving average is $8.92 and its 200-day moving average is $11.60. Wave Life Sciences Ltd. has a 52 week low of $4.25 and a 52 week high of $16.74. The company has a market cap of $998.89 million, a P/E ratio of -5.86 and a beta of -0.93.

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

Insider Buying and Selling

In other Wave Life Sciences news, Director Christian O. Henry sold 10,500 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $9.77, for a total value of $102,585.00. Following the transaction, the director now directly owns 16,115 shares of the company's stock, valued at approximately $157,443.55. This trade represents a 39.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Paul Bolno sold 169,025 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was 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 owns 338,351 shares in the company, valued at $3,238,019.07. This trade represents a 33.31 % decrease in their position. The disclosure for this sale can be found here. 29.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.