Wave Life Sciences Ltd. (NASDAQ:WVE) Shares Sold by US Bancorp DE

US Bancorp DE cut its stake in Wave Life Sciences Ltd. (NASDAQ:WVE) by 58.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,530 shares of the company’s stock after selling 10,513 shares during the quarter. US Bancorp DE’s holdings in Wave Life Sciences were worth $93,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of WVE. KBC Group NV acquired a new stake in shares of Wave Life Sciences in the fourth quarter valued at about $67,000. Point72 DIFC Ltd purchased a new position in Wave Life Sciences in the 3rd quarter worth approximately $98,000. Orion Portfolio Solutions LLC acquired a new stake in Wave Life Sciences in the third quarter valued at approximately $123,000. XTX Topco Ltd purchased a new stake in shares of Wave Life Sciences during the third quarter valued at approximately $126,000. Finally, Kraematon Investment Advisors Inc. lifted its position in shares of Wave Life Sciences by 24.3% during the fourth quarter. Kraematon Investment Advisors Inc. now owns 19,885 shares of the company’s stock worth $246,000 after purchasing an additional 3,885 shares in the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

Wall Street Analyst Weigh In

WVE has been the subject of a number of recent analyst reports. Mizuho raised their price target 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. HC Wainwright restated a “buy” rating and set a $22.00 target price on shares of Wave Life Sciences in a research note on Wednesday, March 5th. 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 price target on the stock. Finally, StockNews.com upgraded Wave Life Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Wave Life Sciences has a consensus rating of “Moderate Buy” and a consensus price target of $22.60.

Wave Life Sciences Stock Down 0.5 %

Shares of Wave Life Sciences stock opened at $10.17 on Tuesday. The business has a 50-day moving average price of $11.13 and a 200 day moving average price of $11.47. Wave Life Sciences Ltd. has a fifty-two week low of $4.25 and a fifty-two week high of $16.74. The firm has a market cap of $1.56 billion, a P/E ratio of -9.16 and a beta of -1.04.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $83.75 million during the quarter, compared to the consensus estimate of $25.60 million. As a group, equities research analysts anticipate that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Paul Bolno sold 169,025 shares of the company’s 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 directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. 29.10% of the stock is owned by corporate insiders.

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.