Wave Life Sciences Ltd. (NASDAQ:WVE) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. cut its stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 54.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 42,526 shares of the company’s stock after selling 50,570 shares during the period. Franklin Resources Inc.’s holdings in Wave Life Sciences were worth $526,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. KBC Group NV purchased a new position in shares of Wave Life Sciences in the 4th quarter valued at about $67,000. Raymond James Financial Inc. acquired a new position in Wave Life Sciences in the fourth quarter valued at approximately $157,000. Victory Capital Management Inc. increased its stake in 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 purchasing an additional 2,073 shares during the last quarter. Orion Portfolio Solutions LLC acquired a new stake in Wave Life Sciences during the third quarter worth approximately $123,000. Finally, XTX Topco Ltd purchased a new stake in shares of Wave Life Sciences during the 3rd quarter worth approximately $126,000. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

Wave Life Sciences Trading Up 1.4 %

NASDAQ:WVE opened at $5.92 on Friday. The firm’s fifty day simple moving average is $9.01 and its 200 day simple moving average is $11.57. Wave Life Sciences Ltd. has a twelve month low of $4.25 and a twelve month high of $16.74. The firm has a market capitalization of $908.64 million, a price-to-earnings ratio of -5.33 and a beta of -0.93.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data 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 company had revenue of $83.75 million for the quarter, compared to analysts’ expectations of $25.60 million. On average, analysts predict that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wedbush began coverage on shares of Wave Life Sciences in a research report on Tuesday, April 8th. They issued an “outperform” rating and a $18.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price objective on shares of Wave Life Sciences in a report on Wednesday, March 26th. StockNews.com raised Wave Life Sciences from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. Finally, Jefferies Financial Group started coverage on Wave Life Sciences in a research note on Tuesday, February 25th. They set a “buy” rating and a $26.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.18.

Insiders Place Their Bets

In related news, CEO Paul Bolno sold 169,025 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Christian O. Henry sold 10,500 shares of the company’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 value of $102,585.00. Following the completion of the transaction, the director now directly owns 16,115 shares in the company, valued at approximately $157,443.55. The trade was a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.10% of the stock is owned by company insiders.

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.