Morgan Stanley Has $1.63 Million Stake in Wave Life Sciences Ltd (WVE)

Morgan Stanley reduced its holdings in shares of Wave Life Sciences Ltd (NASDAQ:WVE) by 16.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,539 shares of the company’s stock after selling 6,323 shares during the quarter. Morgan Stanley’s holdings in Wave Life Sciences were worth $1,626,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in WVE. BB Biotech AG boosted its position in shares of Wave Life Sciences by 21.7% during the 3rd quarter. BB Biotech AG now owns 1,385,002 shares of the company’s stock worth $69,250,000 after acquiring an additional 247,117 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Wave Life Sciences by 14.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 400,000 shares of the company’s stock worth $20,000,000 after acquiring an additional 50,000 shares in the last quarter. Redmile Group LLC boosted its position in shares of Wave Life Sciences by 1.3% during the 3rd quarter. Redmile Group LLC now owns 2,273,307 shares of the company’s stock worth $113,665,000 after acquiring an additional 28,800 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Wave Life Sciences by 10.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 159,946 shares of the company’s stock worth $7,998,000 after acquiring an additional 15,679 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of Wave Life Sciences by 1.1% during the 3rd quarter. BlackRock Inc. now owns 1,214,843 shares of the company’s stock worth $60,742,000 after acquiring an additional 13,188 shares in the last quarter. 82.76% of the stock is owned by institutional investors and hedge funds.

WVE opened at $45.73 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -9.04 and a beta of 0.86. Wave Life Sciences Ltd has a 52 week low of $32.25 and a 52 week high of $56.00.

A number of analysts recently issued reports on the company. BidaskClub raised Wave Life Sciences from a “sell” rating to a “hold” rating in a research report on Friday, November 23rd. Mizuho set a $65.00 target price on Wave Life Sciences and gave the company a “buy” rating in a research report on Thursday, December 6th. Zacks Investment Research cut Wave Life Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. ValuEngine raised Wave Life Sciences from a “buy” rating to a “strong-buy” rating in a research report on Monday, March 11th. Finally, HC Wainwright set a $49.00 target price on Wave Life Sciences and gave the company a “buy” rating in a research report on Monday, December 10th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $57.75.

In related news, Director Ra Capital Management, Llc acquired 263,158 shares of Wave Life Sciences stock in a transaction on Thursday, January 24th. The stock was purchased at an average cost of $38.00 per share, with a total value of $10,000,004.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael A. Panzara sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $48.00, for a total value of $336,000.00. The disclosure for this sale can be found here. 44.20% of the stock is owned by corporate insiders.

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About Wave Life Sciences

Wave Life Sciences Ltd., a biotechnology company, designs, develops, and commercializes nucleic acid therapeutic candidates for genetically defined diseases by utilizing proprietary synthetic chemistry drug development platform. The company is primarily developing oligonucleotides that target genetic defects to either reduce the expression of disease-promoting proteins or transform the production of dysfunctional mutant proteins into the production of functional proteins.

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Institutional Ownership by Quarter for Wave Life Sciences (NASDAQ:WVE)

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