Adage Capital Partners GP L.L.C. Sells 81,247 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

Adage Capital Partners GP L.L.C. decreased its position in Wave Life Sciences Ltd. (NASDAQ:WVE) by 0.8% during the 4th quarter, Holdings Channel reports. The firm owned 9,622,104 shares of the company’s stock after selling 81,247 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.06% of Wave Life Sciences worth $119,025,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. KBC Group NV bought a new stake in Wave Life Sciences during the fourth quarter worth about $67,000. Summit Investment Advisors Inc. boosted its holdings in shares of Wave Life Sciences by 31.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company’s stock worth $119,000 after acquiring an additional 2,308 shares in the last quarter. Westwood Wealth Management bought a new stake in Wave Life Sciences during the 4th quarter worth approximately $124,000. Raymond James Financial Inc. acquired a new stake in Wave Life Sciences during the 4th quarter valued at $157,000. Finally, Victory Capital Management Inc. raised its position in Wave Life Sciences by 16.6% in the 4th 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. Institutional investors and hedge funds own 89.73% of the company’s stock.

Insiders Place Their Bets

In other Wave Life Sciences news, CEO Paul Bolno sold 169,025 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $9.57, for a total value of $1,617,569.25. Following the sale, the chief executive officer now directly owns 338,351 shares in the company, valued at approximately $3,238,019.07. This trade represents a 33.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christian O. Henry sold 10,500 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $9.77, for a total transaction of $102,585.00. Following the completion of the sale, the director now owns 16,115 shares of the company’s stock, valued at approximately $157,443.55. This represents a 39.45 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 29.10% of the company’s stock.

Wave Life Sciences Price Performance

Shares of NASDAQ WVE opened at $6.56 on Wednesday. Wave Life Sciences Ltd. has a fifty-two week low of $4.25 and a fifty-two week high of $16.74. The firm has a market capitalization of $1.01 billion, a P/E ratio of -5.91 and a beta of -0.93. The company’s 50 day simple moving average is $8.73 and its 200 day simple moving average is $11.55.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share for the quarter, beating 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 the consensus estimate of $25.60 million. Sell-side analysts expect that Wave Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on WVE shares. Jefferies Financial Group started coverage on Wave Life Sciences in a report on Tuesday, February 25th. They set a “buy” rating and a $26.00 target price on the stock. HC Wainwright reissued 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 shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Wedbush started coverage on shares of Wave Life Sciences in a research note on Tuesday, April 8th. They set an “outperform” rating and a $18.00 price target on the stock. Two investment 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.18.

Wave Life Sciences Company 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.