Wave Life Sciences Ltd. (NASDAQ:WVE) Major Shareholder Buys $22,335,440.00 in Stock

Wave Life Sciences Ltd. (NASDAQ:WVE) major shareholder Plc Gsk purchased 2,791,930 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was purchased at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the transaction, the insider now owns 16,775,691 shares of the company’s stock, valued at $134,205,528. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Wave Life Sciences Stock Down 3.7 %

Wave Life Sciences stock opened at $8.50 on Friday. The business has a 50 day moving average price of $6.21 and a two-hundred day moving average price of $5.90. Wave Life Sciences Ltd. has a 12 month low of $3.50 and a 12 month high of $9.92. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -16.35 and a beta of -1.13.

Wave Life Sciences (NASDAQ:WVE) last issued its earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The firm had revenue of $19.69 million during the quarter, compared to the consensus estimate of $24.80 million. Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. During the same period last year, the business earned ($0.20) earnings per share. On average, analysts expect that Wave Life Sciences Ltd. will post -1.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. B. Riley lifted their target price on shares of Wave Life Sciences from $11.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday. HC Wainwright raised their price target on Wave Life Sciences from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. initiated coverage on Wave Life Sciences in a research report on Friday, September 27th. They set an “overweight” rating and a $13.00 price objective for the company. Finally, Mizuho reaffirmed an “outperform” rating and issued a $19.00 target price on shares of Wave Life Sciences in a report on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Wave Life Sciences currently has an average rating of “Moderate Buy” and an average price target of $14.75.

Institutional Trading of Wave Life Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Driehaus Capital Management LLC boosted its stake in shares of Wave Life Sciences by 62.2% in the 2nd quarter. Driehaus Capital Management LLC now owns 908,096 shares of the company’s stock valued at $4,531,000 after purchasing an additional 348,300 shares in the last quarter. Mackenzie Financial Corp boosted its position in 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. The Manufacturers Life Insurance Company grew its stake in Wave Life Sciences by 3.6% during the second quarter. The Manufacturers Life Insurance Company now owns 139,790 shares of the company’s stock worth $698,000 after buying an additional 4,914 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Wave Life Sciences by 1.8% during the second quarter. Millennium Management LLC now owns 1,664,300 shares of the company’s stock worth $8,305,000 after buying an additional 28,690 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Wave Life Sciences by 26.3% in the second quarter. AQR Capital Management LLC now owns 33,529 shares of the company’s stock valued at $167,000 after acquiring an additional 6,973 shares during the last quarter. Institutional investors own 89.73% of the company’s stock.

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.