Polar Asset Management Partners Inc. Takes Position in Wave Life Sciences Ltd. (NASDAQ:WVE)

Polar Asset Management Partners Inc. purchased a new stake in Wave Life Sciences Ltd. (NASDAQ:WVE) in the third quarter, HoldingsChannel reports. The firm purchased 486,023 shares of the company’s stock, valued at approximately $3,985,000.

A number of other institutional investors and hedge funds also recently modified their holdings of WVE. Mirae Asset Global Investments Co. Ltd. increased its stake in Wave Life Sciences by 23.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock worth $37,000 after purchasing an additional 856 shares in the last quarter. Mackenzie Financial Corp increased its stake in Wave Life Sciences by 13.6% during the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after purchasing an additional 1,905 shares in the last quarter. Rhumbline Advisers increased its stake in Wave Life Sciences by 3.4% during the 2nd quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock worth $628,000 after purchasing an additional 4,092 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Wave Life Sciences by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 139,790 shares of the company’s stock worth $698,000 after purchasing an additional 4,914 shares in the last quarter. Finally, US Bancorp DE increased its stake in Wave Life Sciences by 53.9% during the 3rd quarter. US Bancorp DE now owns 18,043 shares of the company’s stock worth $148,000 after purchasing an additional 6,316 shares in the last quarter. 89.73% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Kyle Moran sold 17,146 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total value of $154,314.00. Following the sale, the chief financial officer now owns 19,777 shares in the company, valued at approximately $177,993. This represents a 46.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Plc Gsk purchased 2,791,930 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was acquired at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the purchase, the insider now owns 16,775,691 shares in the company, valued at $134,205,528. This trade represents a 19.97 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 453,690 shares of company stock valued at $6,425,883. 29.10% of the stock is owned by insiders.

Wave Life Sciences Price Performance

NASDAQ WVE opened at $14.50 on Thursday. Wave Life Sciences Ltd. has a 12 month low of $3.50 and a 12 month high of $16.74. The stock has a 50 day moving average of $12.92 and a 200-day moving average of $8.33.

Analysts Set New Price Targets

A number of research firms recently issued reports on WVE. Mizuho increased their target price on Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Truist Financial upped their price target on Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. B. Riley upped their price target on Wave Life Sciences from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Royal Bank of Canada upped their price target on Wave Life Sciences from $7.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Monday, October 21st. Finally, StockNews.com downgraded Wave Life Sciences from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.22.

Wave Life Sciences 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.