Wave Life Sciences Ltd. (NASDAQ:WVE) Shares Sold by Ikarian Capital LLC

Ikarian Capital LLC trimmed its position in Wave Life Sciences Ltd. (NASDAQ:WVE) by 5.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 544,265 shares of the company’s stock after selling 30,823 shares during the period. Wave Life Sciences makes up about 0.6% of Ikarian Capital LLC’s portfolio, making the stock its 28th largest holding. Ikarian Capital LLC owned 0.44% of Wave Life Sciences worth $4,463,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WVE. Mirae Asset Global Investments Co. Ltd. lifted its position in Wave Life Sciences by 23.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock worth $37,000 after purchasing an additional 856 shares during the period. Profund Advisors LLC bought a new position in shares of Wave Life Sciences in the second quarter valued at $53,000. Principal Financial Group Inc. bought a new position in shares of Wave Life Sciences in the second quarter valued at $74,000. Mackenzie Financial Corp increased its holdings in shares of Wave Life Sciences by 13.6% in the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after buying an additional 1,905 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Wave Life Sciences in the second quarter valued at $104,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WVE. Mizuho upped their price target on Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Raymond James raised Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $13.00 to $22.00 in a report on Wednesday, October 16th. Leerink Partners upped their price target on Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Truist Financial boosted their target price on shares of Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company boosted their target price on shares of Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.22.

Insider Transactions at Wave Life Sciences

In other news, CEO Paul Bolno sold 50,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $15.00, for a total value of $750,000.00. Following the transaction, the chief executive officer now directly owns 217,351 shares of the company’s stock, valued at approximately $3,260,265. This represents a 18.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Plc Gsk purchased 2,791,930 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was bought at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the purchase, the insider now directly owns 16,775,691 shares of the company’s stock, valued at $134,205,528. The trade was a 19.97 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 453,690 shares of company stock valued at $6,425,883. 29.10% of the stock is owned by insiders.

Wave Life Sciences Trading Up 1.1 %

Shares of NASDAQ WVE traded up $0.17 during mid-day trading on Tuesday, reaching $15.27. The company had a trading volume of 1,469,661 shares, compared to its average volume of 1,162,258. Wave Life Sciences Ltd. has a twelve month low of $3.50 and a twelve month high of $16.74. The stock’s 50 day moving average is $12.69 and its 200-day moving average is $8.23.

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.