Barclays PLC Purchases 36,312 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

Barclays PLC lifted its position in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 22.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 195,553 shares of the company’s stock after purchasing an additional 36,312 shares during the quarter. Barclays PLC owned 0.13% of Wave Life Sciences worth $2,418,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WVE. KBC Group NV bought a new position in Wave Life Sciences during the fourth quarter worth about $67,000. Summit Investment Advisors Inc. increased its stake in Wave Life Sciences by 31.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company’s stock worth $119,000 after purchasing an additional 2,308 shares in the last quarter. Westwood Wealth Management acquired a new stake in Wave Life Sciences during the 4th quarter worth approximately $124,000. Raymond James Financial Inc. bought a new position in Wave Life Sciences in the fourth quarter valued at approximately $157,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of Wave Life Sciences by 16.6% in the fourth quarter. Victory Capital Management Inc. now owns 14,546 shares of the company’s stock valued at $180,000 after buying an additional 2,073 shares during the period. Institutional investors and hedge funds own 89.73% of the company’s stock.

Wave Life Sciences Stock Performance

Shares of WVE stock opened at $7.72 on Thursday. Wave Life Sciences Ltd. has a 52-week low of $4.25 and a 52-week high of $16.74. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -6.95 and a beta of -0.93. The firm’s 50-day moving average is $8.26 and its 200-day moving average is $11.47.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Tuesday, March 4th. The company reported $0.17 earnings per share (EPS) 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 company had revenue of $83.75 million during the quarter, compared to analysts’ expectations of $25.60 million. Sell-side analysts predict that Wave Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Christian O. Henry sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $9.77, for a total value of $102,585.00. Following the transaction, the director now owns 16,115 shares of the company’s stock, valued at approximately $157,443.55. This represents a 39.45 % 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 this link. Also, CEO Paul Bolno sold 169,025 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was 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 in the company, valued at approximately $3,238,019.07. This trade represents a 33.31 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 29.10% of the company’s stock.

Analyst Ratings Changes

WVE has been the topic of a number of research analyst reports. Cantor Fitzgerald assumed coverage on shares of Wave Life Sciences in a report on Tuesday. They set an “overweight” rating and a $10.00 price objective on the stock. 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. Wedbush initiated coverage on Wave Life Sciences in a research report on Tuesday, April 8th. They set an “outperform” rating and a $18.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $22.00 target price on shares of Wave Life Sciences in a research report on Wednesday, March 26th. Finally, StockNews.com raised Wave Life Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Wave Life Sciences currently has an average rating of “Moderate Buy” and an average price target of $21.17.

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.