Wellington Management Group LLP Has $2.59 Million Stock Holdings in Wave Life Sciences Ltd. (NASDAQ:WVE)

Wellington Management Group LLP decreased its stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 26.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 315,502 shares of the company's stock after selling 112,809 shares during the period. Wellington Management Group LLP owned 0.25% of Wave Life Sciences worth $2,587,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in Wave Life Sciences by 13.9% in the second quarter. Bank of New York Mellon Corp now owns 225,402 shares of the company's stock valued at $1,125,000 after acquiring an additional 27,524 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Wave Life Sciences by 75.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,491 shares of the company's stock worth $167,000 after buying an additional 14,371 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Wave Life Sciences during the second quarter worth approximately $74,000. Rhumbline Advisers lifted its holdings in Wave Life Sciences by 3.4% in the second quarter. Rhumbline Advisers now owns 125,834 shares of the company's stock valued at $628,000 after buying an additional 4,092 shares during the period. Finally, Emerald Mutual Fund Advisers Trust bought a new position in Wave Life Sciences in the second quarter valued at approximately $9,086,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Kyle Moran sold 17,146 shares of the company's stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the transaction, the chief financial officer now owns 19,777 shares in the company, valued at approximately $177,993. This represents a 46.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Plc Gsk acquired 2,791,930 shares of the business's stock in a transaction on Friday, September 27th. The shares were bought at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the transaction, the insider now directly owns 16,775,691 shares of the company's stock, valued at approximately $134,205,528. The trade was a 19.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 453,690 shares of company stock valued at $6,425,883. 29.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently commented on WVE shares. Royal Bank of Canada upped 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. Mizuho boosted their price objective on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company an "outperform" rating in a report on Thursday, November 21st. JPMorgan Chase & Co. increased their target price on shares of Wave Life Sciences from $13.00 to $17.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. B. Riley boosted their price target on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company a "buy" rating in a report on Monday, November 4th. Finally, StockNews.com downgraded Wave Life Sciences from a "hold" rating to a "sell" rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Wave Life Sciences currently has a consensus rating of "Moderate Buy" and an average price target of $22.22.

Wave Life Sciences Stock Up 7.4 %

NASDAQ:WVE opened at $14.45 on Wednesday. Wave Life Sciences Ltd. has a twelve month low of $3.50 and a twelve month high of $16.74. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -13.02 and a beta of -1.21. The stock's 50 day moving average price is $14.03 and its two-hundred day moving average price is $8.87.

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.