Connor Clark & Lunn Investment Management Ltd. Has $4.80 Million Position in Wave Life Sciences Ltd. (NASDAQ:WVE)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 19.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 387,871 shares of the company’s stock after acquiring an additional 62,862 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.25% of Wave Life Sciences worth $4,798,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of WVE. Raymond James Financial Inc. acquired a new position in Wave Life Sciences during the fourth quarter worth $157,000. Arizona State Retirement System raised its holdings in Wave Life Sciences by 34.2% during the fourth quarter. Arizona State Retirement System now owns 30,769 shares of the company’s stock worth $381,000 after buying an additional 7,846 shares during the last quarter. Aigen Investment Management LP acquired a new position in Wave Life Sciences during the fourth quarter worth $270,000. Victory Capital Management Inc. raised its holdings in Wave Life Sciences by 16.6% during the fourth 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, Charles Schwab Investment Management Inc. raised its holdings in Wave Life Sciences by 8.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 914,469 shares of the company’s stock worth $11,312,000 after buying an additional 69,852 shares during the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

Wave Life Sciences Stock Performance

WVE opened at $10.22 on Monday. The firm has a market cap of $1.57 billion, a P/E ratio of -9.21 and a beta of -1.04. The firm has a 50-day moving average of $11.18 and a 200 day moving average of $11.44. Wave Life Sciences Ltd. has a fifty-two week low of $4.25 and a fifty-two week high of $16.74.

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 the consensus estimate of ($0.17) by $0.34. The company had revenue of $83.75 million during the quarter, compared to analyst estimates of $25.60 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. Equities research analysts predict that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on WVE. Jefferies Financial Group began coverage on shares of Wave Life Sciences in a report on Tuesday, February 25th. They set a “buy” rating and a $26.00 price objective on the stock. Mizuho upped their target price on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. StockNews.com upgraded shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, HC Wainwright reiterated 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 research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.60.

Insider Activity at Wave Life Sciences

In other Wave Life Sciences news, CEO Paul Bolno sold 169,025 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $9.57, for a total transaction 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 trade represents a 33.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 29.10% of the stock is owned by company insiders.

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.