Cinctive Capital Management LP Has $2.92 Million Stake in Wave Life Sciences Ltd. (NASDAQ:WVE)

Cinctive Capital Management LP lifted its position in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 255.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 356,308 shares of the company’s stock after buying an additional 256,146 shares during the period. Cinctive Capital Management LP’s holdings in Wave Life Sciences were worth $2,922,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew 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 valued at $37,000 after purchasing an additional 856 shares in the last quarter. Profund Advisors LLC acquired a new position in shares of Wave Life Sciences during the 2nd quarter worth about $53,000. Principal Financial Group Inc. bought a new position in shares of Wave Life Sciences in the 2nd quarter valued at about $74,000. Mackenzie Financial Corp increased its position 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 acquiring an additional 1,905 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of Wave Life Sciences in the second quarter valued at about $104,000. 89.73% of the stock is currently owned by institutional investors.

Wave Life Sciences Stock Up 1.1 %

Shares of WVE stock opened at $15.27 on Tuesday. Wave Life Sciences Ltd. has a 52 week low of $3.50 and a 52 week high of $16.74. The company has a 50-day simple moving average of $12.69 and a 200 day simple moving average of $8.23.

Analyst Ratings Changes

A number of research firms have weighed in on WVE. HC Wainwright restated a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a research note on Wednesday, November 13th. Mizuho raised 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. Royal Bank of Canada boosted their target price on shares of Wave Life Sciences from $7.00 to $15.00 and gave the stock a “sector perform” rating in a report on Monday, October 21st. Wells Fargo & Company increased their price target 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. Finally, Leerink Partners boosted their price objective on shares of Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.22.

Insiders Place Their Bets

In other Wave Life Sciences news, major shareholder Plc Gsk bought 2,791,930 shares of Wave Life Sciences stock in a transaction dated Friday, September 27th. The stock was bought at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the transaction, the insider now owns 16,775,691 shares in the company, valued at $134,205,528. The trade was a 19.97 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kyle Moran sold 17,146 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total transaction of $154,314.00. Following the completion of the transaction, the chief financial officer now owns 19,777 shares in the company, valued at $177,993. This trade represents a 46.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 453,690 shares of company stock worth $6,425,883 over the last three months. Insiders own 29.10% 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.