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

Primecap Management Co. CA trimmed its holdings in Wave Life Sciences Ltd. (NASDAQ:WVE) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,519,520 shares of the company’s stock after selling 61,180 shares during the period. Primecap Management Co. CA’s holdings in Wave Life Sciences were worth $31,166,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Swiss National Bank raised its position in shares of Wave Life Sciences by 33.4% in the 4th quarter. Swiss National Bank now owns 208,800 shares of the company’s stock valued at $2,583,000 after purchasing an additional 52,300 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Wave Life Sciences by 19.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 387,871 shares of the company’s stock valued at $4,798,000 after purchasing an additional 62,862 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Wave Life Sciences during the 4th quarter valued at approximately $157,000. Arizona State Retirement System raised its position in shares of Wave Life Sciences by 34.2% during the 4th quarter. Arizona State Retirement System now owns 30,769 shares of the company’s stock valued at $381,000 after acquiring an additional 7,846 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in shares of Wave Life Sciences during the 4th quarter valued at approximately $270,000. 89.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Wave Life Sciences

In other news, CEO Paul Bolno sold 169,025 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $9.57, for a total value of $1,617,569.25. Following the completion of the transaction, the chief executive officer now owns 338,351 shares of the company’s stock, valued at approximately $3,238,019.07. This represents a 33.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 29.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on WVE. Mizuho upped their price target on Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. HC Wainwright reissued a “buy” rating and set a $22.00 price target on shares of Wave Life Sciences in a research report on Wednesday, March 5th. Jefferies Financial Group began coverage on Wave Life Sciences in a research report on Tuesday, February 25th. They set a “buy” rating and a $26.00 price target on the stock. Finally, StockNews.com raised Wave Life Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wave Life Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $22.60.

Wave Life Sciences Price Performance

Shares of NASDAQ WVE opened at $9.79 on Wednesday. Wave Life Sciences Ltd. has a 1-year low of $4.25 and a 1-year high of $16.74. The business’s fifty day moving average price is $11.06 and its two-hundred day moving average price is $11.50. The firm has a market capitalization of $1.50 billion, a PE ratio of -8.82 and a beta of -1.04.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share (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 company had revenue of $83.75 million during the quarter, compared to analysts’ expectations of $25.60 million. Equities research analysts expect that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

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.