Wave Life Sciences Ltd. (NASDAQ:WVE) Short Interest Down 11.8% in February

Wave Life Sciences Ltd. (NASDAQ:WVE – Get Rating) was the target of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 1,120,000 shares, a decline of 11.8% from the February 13th total of 1,270,000 shares. Based on an average daily trading volume, of 721,700 shares, the short-interest ratio is currently 1.6 days.

Analyst Upgrades and Downgrades

Separately, SVB Leerink raised their price objective on shares of Wave Life Sciences from $2.00 to $7.00 and gave the company a “market perform” rating in a research note on Wednesday, December 14th.

Insider Transactions at Wave Life Sciences

In other Wave Life Sciences news, CEO Paul Bolno sold 29,400 shares of the company’s stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $4.04, for a total value of $118,776.00. Following the transaction, the chief executive officer now owns 407,425 shares of the company’s stock, valued at $1,645,997. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Paul Bolno sold 29,400 shares of the company’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $4.04, for a total value of $118,776.00. Following the completion of the sale, the chief executive officer now directly owns 407,425 shares in the company, valued at $1,645,997. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chandra Vargeese sold 10,249 shares of the company’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $4.03, for a total transaction of $41,303.47. Following the transaction, the insider now directly owns 106,624 shares of the company’s stock, valued at approximately $429,694.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,378 shares of company stock worth $199,385. Company insiders own 32.20% of the company’s stock.

Institutional Trading of Wave Life Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of WVE. 683 Capital Management LLC grew its holdings in Wave Life Sciences by 1.3% during the third quarter. 683 Capital Management LLC now owns 7,622,348 shares of the company’s stock worth $27,516,000 after purchasing an additional 101,100 shares during the period. Artal Group S.A. grew its holdings in Wave Life Sciences by 200.0% during the second quarter. Artal Group S.A. now owns 3,000,000 shares of the company’s stock worth $9,750,000 after purchasing an additional 2,000,000 shares during the period. BlackRock Inc. grew its holdings in Wave Life Sciences by 1.5% during the first quarter. BlackRock Inc. now owns 2,937,786 shares of the company’s stock worth $5,876,000 after purchasing an additional 43,423 shares during the period. Millennium Management LLC boosted its holdings in shares of Wave Life Sciences by 136.3% during the fourth quarter. Millennium Management LLC now owns 1,317,628 shares of the company’s stock worth $9,223,000 after acquiring an additional 760,071 shares during the period. Finally, FMR LLC boosted its holdings in shares of Wave Life Sciences by 1,759.1% during the second quarter. FMR LLC now owns 1,238,026 shares of the company’s stock worth $4,024,000 after acquiring an additional 1,171,432 shares during the period. Institutional investors and hedge funds own 77.18% of the company’s stock.

Wave Life Sciences Stock Performance

WVE opened at $4.00 on Monday. Wave Life Sciences has a twelve month low of $1.16 and a twelve month high of $7.12. The firm’s fifty day moving average is $4.82 and its two-hundred day moving average is $4.45. The firm has a market cap of $347.60 million, a PE ratio of -1.76 and a beta of -0.86.

About Wave Life Sciences

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Wave Life Sciences Ltd. is a biotechnology company, which engages in the development of proprietary synthetic chemistry drug. It focuses on the design, development, and commercialization of nucleic acid-based therapeutics. The company was founded by Gregory L. Verdine and Takeshi Wada on July 23, 2012 and is headquartered in Singapore.