Quantbot Technologies LP Purchases Shares of 68,927 Wave Life Sciences Ltd. (NASDAQ:WVE)

Quantbot Technologies LP acquired a new position in Wave Life Sciences Ltd. (NASDAQ:WVE) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 68,927 shares of the company’s stock, valued at approximately $853,000.

Several other large investors have also made changes to their positions in the business. Maverick Capital Ltd. grew its position in Wave Life Sciences by 31.0% in the 3rd quarter. Maverick Capital Ltd. now owns 10,047,520 shares of the company’s stock worth $82,390,000 after purchasing an additional 2,378,159 shares during the last quarter. FMR LLC grew its position in Wave Life Sciences by 174.5% during the third quarter. FMR LLC now owns 1,540,190 shares of the company’s stock worth $12,630,000 after buying an additional 979,110 shares in the last quarter. RTW Investments LP bought a new position in Wave Life Sciences during the third quarter valued at about $7,380,000. Maven Securities LTD acquired a new position in Wave Life Sciences in the 3rd quarter valued at approximately $6,970,000. Finally, Walleye Capital LLC bought a new stake in shares of Wave Life Sciences in the 3rd quarter worth approximately $4,940,000. Institutional investors and hedge funds own 89.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on WVE shares. Jefferies Financial Group began coverage on Wave Life Sciences in a research note on Tuesday, February 25th. They issued a “buy” rating and a $26.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price objective on shares of Wave Life Sciences in a report on Wednesday. Finally, StockNews.com raised shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wave Life Sciences has a consensus rating of “Moderate Buy” and an average target price of $22.60.

Insider Activity at Wave Life Sciences

In related news, CEO Paul Bolno sold 169,025 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 338,351 shares of the company’s stock, 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 SEC, which is available at the SEC website. Also, Director Christian O. Henry sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $9.77, for a total transaction of $102,585.00. Following the completion of the transaction, the director now owns 16,115 shares of the company’s stock, valued at $157,443.55. This trade represents a 39.45 % decrease in their position. The disclosure for this sale can be found here. 29.10% of the stock is currently owned by company insiders.

Wave Life Sciences Trading Up 6.1 %

NASDAQ WVE opened at $10.02 on Thursday. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -9.03 and a beta of -1.04. Wave Life Sciences Ltd. has a 1-year low of $4.25 and a 1-year high of $16.74. The company has a 50 day moving average of $10.83 and a 200-day moving average of $11.64.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Tuesday, March 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.34. The firm had revenue of $83.75 million during the quarter, compared to the consensus estimate of $25.60 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. On average, analysts forecast that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current year.

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.