Wave Life Sciences Ltd. (NASDAQ:WVE) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lessened its position in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 2.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,519,520 shares of the company’s stock after selling 61,180 shares during the quarter. Primecap Management Co. CA owned approximately 1.65% of Wave Life Sciences worth $31,166,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. KBC Group NV acquired a new position in shares of Wave Life Sciences during the 4th quarter worth $67,000. Point72 DIFC Ltd acquired a new position in shares of Wave Life Sciences during the 3rd quarter worth $98,000. Raymond James Financial Inc. acquired a new position in shares of Wave Life Sciences during the 4th quarter worth $157,000. Victory Capital Management Inc. raised its stake in shares of Wave Life Sciences by 16.6% during the 4th quarter. Victory Capital Management Inc. now owns 14,546 shares of the company’s stock worth $180,000 after buying an additional 2,073 shares during the last quarter. Finally, Orion Portfolio Solutions LLC acquired a new position in shares of Wave Life Sciences during the 3rd quarter worth $123,000. Institutional investors and hedge funds own 89.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. StockNews.com raised Wave Life Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Jefferies Financial Group assumed coverage on shares of Wave Life Sciences in a research note on Tuesday, February 25th. They issued a “buy” rating and a $26.00 target price for the company. Mizuho boosted their target price on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, HC Wainwright reissued a “buy” rating and issued a $22.00 target price on shares of Wave Life Sciences in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Wave Life Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $22.60.

Insider Transactions at Wave Life Sciences

In other Wave Life Sciences news, CEO Paul Bolno sold 169,025 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $3,238,019.07. This represents a 33.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 29.10% of the company’s stock.

Wave Life Sciences Price Performance

WVE opened at $9.79 on Wednesday. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -8.82 and a beta of -1.04. The business has a 50-day moving average of $11.06 and a two-hundred day moving average of $11.50. 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 posted its quarterly earnings results on Tuesday, March 4th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.34. The company had revenue of $83.75 million during the quarter, compared to analysts’ expectations of $25.60 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. Equities research analysts anticipate that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current year.

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.