20,800 Shares in Wave Life Sciences Ltd. (NASDAQ:WVE) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new position in Wave Life Sciences Ltd. (NASDAQ:WVE) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 20,800 shares of the company’s stock, valued at approximately $257,000.

Several other institutional investors have also recently added to or reduced their stakes in WVE. KBC Group NV acquired a new position in shares of Wave Life Sciences in the 4th quarter valued at about $67,000. Point72 DIFC Ltd bought a new position in Wave Life Sciences in the third quarter worth about $98,000. Orion Portfolio Solutions LLC bought a new position in Wave Life Sciences in the third quarter worth about $123,000. XTX Topco Ltd acquired a new position in Wave Life Sciences in the third quarter valued at approximately $126,000. Finally, Raymond James Financial Inc. bought a new position in shares of Wave Life Sciences during the fourth quarter valued at approximately $157,000. Institutional investors own 89.73% of the company’s stock.

Analysts Set New Price Targets

WVE has been the topic of several recent research reports. Jefferies Financial Group began coverage on Wave Life Sciences in a report on Tuesday, February 25th. They issued a “buy” rating and a $26.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $22.00 target price on shares of Wave Life Sciences in a research note on Wednesday, March 26th. Finally, StockNews.com upgraded shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.60.

Insider Buying and Selling

In other news, Director Christian O. Henry sold 10,500 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $9.77, for a total transaction of $102,585.00. Following the completion of the transaction, the director now owns 16,115 shares in the company, valued at approximately $157,443.55. This trade represents a 39.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Paul Bolno sold 169,025 shares of Wave Life Sciences 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 in the company, valued at $3,238,019.07. This represents a 33.31 % decrease in their position. The disclosure for this sale can be found here. 29.10% of the stock is owned by corporate insiders.

Wave Life Sciences Stock Down 9.2 %

Shares of NASDAQ WVE opened at $6.03 on Monday. The stock has a market cap of $925.52 million, a P/E ratio of -5.43 and a beta of -0.93. The firm’s 50-day simple moving average is $10.30 and its 200 day simple moving average is $11.78. Wave Life Sciences Ltd. has a fifty-two week low of $4.25 and a fifty-two week high of $16.74.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Tuesday, March 4th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.34. The company had revenue of $83.75 million for the quarter, compared to the consensus estimate of $25.60 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. On average, sell-side analysts anticipate that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

About Wave Life Sciences

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.