344,063 Shares in Wave Life Sciences Ltd. (NASDAQ:WVE) Bought by Baker BROS. Advisors LP

Baker BROS. Advisors LP purchased a new stake in Wave Life Sciences Ltd. (NASDAQ:WVE) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 344,063 shares of the company’s stock, valued at approximately $2,821,000. Baker BROS. Advisors LP owned approximately 0.28% of Wave Life Sciences at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Maverick Capital Ltd. lifted its position in shares of Wave Life Sciences by 31.0% during the third quarter. Maverick Capital Ltd. now owns 10,047,520 shares of the company’s stock worth $82,390,000 after purchasing an additional 2,378,159 shares in the last quarter. Emerald Advisers LLC lifted its holdings in Wave Life Sciences by 15.6% in the 3rd quarter. Emerald Advisers LLC now owns 2,881,510 shares of the company’s stock worth $23,628,000 after buying an additional 388,280 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in Wave Life Sciences by 16.6% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 2,123,466 shares of the company’s stock valued at $17,412,000 after buying an additional 302,528 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Wave Life Sciences by 14.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,861,254 shares of the company’s stock valued at $11,485,000 after acquiring an additional 233,891 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Wave Life Sciences by 39.7% during the first quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock valued at $11,316,000 after acquiring an additional 521,665 shares in the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WVE. Wells Fargo & Company increased their price target on Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. StockNews.com cut Wave Life Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th. Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $13.00 to $22.00 in a research note on Wednesday, October 16th. Mizuho increased their price objective on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Leerink Partners increased their price objective on shares of Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Wave Life Sciences currently has an average rating of “Moderate Buy” and an average price target of $22.22.

Insider Buying and Selling at Wave Life Sciences

In other news, major shareholder Plc Gsk bought 2,791,930 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was purchased at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the transaction, the insider now owns 16,775,691 shares in the company, valued at approximately $134,205,528. This trade represents a 19.97 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Chris Francis sold 36,000 shares of Wave Life Sciences stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $16.00, for a total value of $576,000.00. The disclosure for this sale can be found here. Insiders sold a total of 453,690 shares of company stock worth $6,425,883 over the last ninety days. Company insiders own 29.10% of the company’s stock.

Wave Life Sciences Stock Up 0.7 %

Shares of NASDAQ:WVE opened at $15.10 on Monday. Wave Life Sciences Ltd. has a fifty-two week low of $3.50 and a fifty-two week high of $16.74. The firm has a 50-day simple moving average of $12.49 and a 200 day simple moving average of $8.16.

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.