Wellington Management Group LLP Decreases Stock Holdings in Wave Life Sciences Ltd. (NASDAQ:WVE)

Wellington Management Group LLP lowered its stake in Wave Life Sciences Ltd. (NASDAQ:WVE) by 1.3% during the 4th quarter, HoldingsChannel reports. The firm owned 311,303 shares of the company’s stock after selling 4,199 shares during the period. Wellington Management Group LLP’s holdings in Wave Life Sciences were worth $3,851,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in WVE. BNP Paribas Financial Markets boosted its position in Wave Life Sciences by 477.7% in the third quarter. BNP Paribas Financial Markets now owns 41,828 shares of the company’s stock worth $343,000 after purchasing an additional 34,588 shares during the last quarter. State Street Corp boosted its holdings in shares of Wave Life Sciences by 2.6% in the third quarter. State Street Corp now owns 2,321,248 shares of the company’s stock worth $19,034,000 after buying an additional 57,822 shares during the last quarter. Jane Street Group LLC grew its position in Wave Life Sciences by 33.3% during the third quarter. Jane Street Group LLC now owns 142,014 shares of the company’s stock valued at $1,165,000 after buying an additional 35,472 shares during the period. XTX Topco Ltd purchased a new stake in Wave Life Sciences during the third quarter valued at approximately $126,000. Finally, Orion Portfolio Solutions LLC bought a new position in Wave Life Sciences in the third quarter worth approximately $123,000. Institutional investors own 89.73% of the company’s stock.

Insider Activity

In related news, Director Christian O. Henry sold 10,500 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $9.77, for a total value of $102,585.00. Following the sale, the director now directly owns 16,115 shares of the company’s stock, valued at $157,443.55. This represents a 39.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Paul Bolno sold 169,025 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $9.57, for a total value of $1,617,569.25. Following the transaction, the chief executive officer now owns 338,351 shares of the company’s stock, valued at $3,238,019.07. This trade represents a 33.31 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 29.10% of the company’s stock.

Wave Life Sciences Stock Up 3.1 %

Wave Life Sciences stock opened at $5.65 on Friday. Wave Life Sciences Ltd. has a 52-week low of $4.25 and a 52-week high of $16.74. The firm’s fifty day moving average is $9.44 and its 200 day moving average is $11.66. The company has a market cap of $867.20 million, a price-to-earnings ratio of -5.09 and a beta of -0.93.

Wave Life Sciences (NASDAQ:WVE) last announced its earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.34. The firm had revenue of $83.75 million for the quarter, compared to analysts’ expectations 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, equities research analysts anticipate that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on WVE shares. Wedbush started coverage on Wave Life Sciences in a report on Tuesday. They set an “outperform” rating and a $18.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $22.00 price objective on shares of Wave Life Sciences in a research report on Wednesday, March 26th. 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 target price for the company. Finally, StockNews.com raised Wave Life Sciences from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.18.

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.