Geode Capital Management LLC Buys 201,087 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

Geode Capital Management LLC raised its stake in Wave Life Sciences Ltd. (NASDAQ:WVE) by 8.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,470,751 shares of the company’s stock after acquiring an additional 201,087 shares during the period. Geode Capital Management LLC’s holdings in Wave Life Sciences were worth $30,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of WVE. Victory Capital Management Inc. raised its position in shares of Wave Life Sciences by 16.6% during 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 last quarter. Kraematon Investment Advisors Inc. increased its stake in Wave Life Sciences by 24.3% during the fourth quarter. Kraematon Investment Advisors Inc. now owns 19,885 shares of the company’s stock valued at $246,000 after acquiring an additional 3,885 shares during the period. Pictet Asset Management Holding SA raised its holdings in Wave Life Sciences by 36.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 15,579 shares of the company’s stock valued at $193,000 after acquiring an additional 4,120 shares in the last quarter. Corebridge Financial Inc. lifted its position in shares of Wave Life Sciences by 10.7% in the 4th quarter. Corebridge Financial Inc. now owns 45,824 shares of the company’s stock worth $567,000 after acquiring an additional 4,423 shares during the period. Finally, KBC Group NV bought a new stake in shares of Wave Life Sciences in the 4th quarter worth approximately $67,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wedbush initiated coverage on Wave Life Sciences in a research note on Tuesday, April 8th. They issued an “outperform” rating and a $18.00 target price 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 note on Wednesday, March 26th. Jefferies Financial Group assumed coverage on shares of Wave Life Sciences in a research report on Tuesday, February 25th. They set a “buy” rating and a $26.00 target price on the stock. Finally, StockNews.com raised shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Wave Life Sciences has an average rating of “Moderate Buy” and a consensus price target of $22.18.

Insider Transactions at Wave Life Sciences

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 shares were sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the transaction, the chief executive officer now directly owns 338,351 shares in the company, valued at approximately $3,238,019.07. This represents a 33.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christian O. Henry sold 10,500 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 16,115 shares of the company’s stock, valued at approximately $157,443.55. This represents a 39.45 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 29.10% of the company’s stock.

Wave Life Sciences Trading Down 7.0 %

Shares of Wave Life Sciences stock opened at $5.84 on Thursday. Wave Life Sciences Ltd. has a 1-year low of $4.25 and a 1-year high of $16.74. The firm’s 50-day moving average price is $9.10 and its two-hundred day moving average price is $11.59. The stock has a market capitalization of $896.36 million, a price-to-earnings ratio of -5.26 and a beta of -0.93.

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. 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 for the quarter, compared to analyst estimates of $25.60 million. As a group, equities research analysts predict that Wave Life Sciences Ltd. will post -1.14 EPS for the current year.

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.