Hsbc Holdings PLC Trims Stock Position in Wave Life Sciences Ltd. (NASDAQ:WVE)

Hsbc Holdings PLC trimmed its stake in Wave Life Sciences Ltd. (NASDAQ:WVE) by 25.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,721 shares of the company’s stock after selling 3,565 shares during the period. Hsbc Holdings PLC’s holdings in Wave Life Sciences were worth $132,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. KBC Group NV bought a new position in Wave Life Sciences in the fourth quarter worth $67,000. Summit Investment Advisors Inc. lifted its position 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 valued at $119,000 after acquiring an additional 2,308 shares during the period. Westwood Wealth Management bought a new stake in Wave Life Sciences during the fourth quarter worth about $124,000. Raymond James Financial Inc. purchased a new stake in Wave Life Sciences in the fourth quarter worth about $157,000. Finally, Victory Capital Management Inc. increased its stake 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 purchasing an additional 2,073 shares in the last quarter. Institutional investors own 89.73% of the company’s stock.

Analysts Set New Price Targets

WVE has been the subject of several recent research reports. HC Wainwright reiterated a “buy” rating and set a $22.00 target price on shares of Wave Life Sciences in a report on Wednesday, March 26th. Wedbush initiated coverage on Wave Life Sciences in a report on Tuesday, April 8th. They issued an “outperform” rating and a $18.00 target price on the stock. StockNews.com downgraded Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Friday. Jefferies Financial Group began coverage on shares of 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. Finally, Cantor Fitzgerald began coverage on shares of Wave Life Sciences in a research note on Tuesday, April 29th. They set an “overweight” rating and a $10.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.17.

Insider Activity

In other news, CEO Paul Bolno sold 169,025 shares of the firm’s 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christian O. Henry sold 10,500 shares of Wave Life Sciences 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 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. Insiders own 29.10% of the company’s stock.

Wave Life Sciences Trading Up 0.8%

NASDAQ:WVE opened at $6.59 on Monday. The company has a market cap of $1.02 billion, a PE ratio of -5.94 and a beta of -0.92. The company has a 50 day simple moving average of $7.78 and a two-hundred day simple moving average of $11.13. Wave Life Sciences Ltd. has a 12 month low of $4.25 and a 12 month high of $16.74.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.02). Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. The firm had revenue of $9.18 million during the quarter, compared to the consensus estimate of $11.65 million. During the same period in the previous year, the firm earned ($0.24) EPS. Research analysts forecast that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current year.

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.