602,441 Shares in Wave Life Sciences Ltd. (NASDAQ:WVE) Acquired by Walleye Capital LLC

Walleye Capital LLC bought a new position in Wave Life Sciences Ltd. (NASDAQ:WVE) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 602,441 shares of the company’s stock, valued at approximately $4,940,000. Walleye Capital LLC owned 0.48% of Wave Life Sciences at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Wave Life Sciences by 23.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock valued at $37,000 after acquiring an additional 856 shares during the last quarter. Mackenzie Financial Corp increased its position in Wave Life Sciences by 13.6% during the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after buying an additional 1,905 shares during the last quarter. Rhumbline Advisers increased its position in Wave Life Sciences by 3.4% during the second quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock worth $628,000 after buying an additional 4,092 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Wave Life Sciences by 3.6% during the second quarter. The Manufacturers Life Insurance Company now owns 139,790 shares of the company’s stock worth $698,000 after buying an additional 4,914 shares during the last quarter. Finally, US Bancorp DE grew its position in shares of Wave Life Sciences by 53.9% in the third quarter. US Bancorp DE now owns 18,043 shares of the company’s stock valued at $148,000 after purchasing an additional 6,316 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

Wave Life Sciences Stock Performance

WVE opened at $15.10 on Monday. The company has a fifty day moving average price of $12.49 and a two-hundred day moving average price of $8.16. Wave Life Sciences Ltd. has a 52 week low of $3.50 and a 52 week high of $16.74. The firm has a market capitalization of $2.30 billion, a PE ratio of -13.60 and a beta of -1.20.

Insiders Place Their Bets

In related news, CEO Paul Bolno sold 50,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $15.00, for a total value of $750,000.00. Following the sale, the chief executive officer now directly owns 217,351 shares of the company’s stock, valued at approximately $3,260,265. The trade was a 18.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Chris Francis sold 36,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $16.00, for a total transaction of $576,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 453,690 shares of company stock valued at $6,425,883. Company insiders own 29.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on WVE shares. StockNews.com downgraded Wave Life Sciences from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. raised their price target on shares of Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Mizuho raised their price target on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Wells Fargo & Company lifted their target price on shares of Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada lifted their target price 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.