Wellington Management Group LLP Grows Stake in Wave Life Sciences Ltd. (NASDAQ:WVE)

Wellington Management Group LLP increased its holdings in shares of Wave Life Sciences Ltd. (NASDAQ:WVEFree Report) by 4.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 264,885 shares of the company’s stock after purchasing an additional 10,830 shares during the quarter. Wellington Management Group LLP owned approximately 0.27% of Wave Life Sciences worth $1,523,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada grew its position in shares of Wave Life Sciences by 257.9% during the second quarter. Royal Bank of Canada now owns 8,787 shares of the company’s stock worth $32,000 after purchasing an additional 6,332 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Wave Life Sciences by 256.3% during the third quarter. Tower Research Capital LLC TRC now owns 9,217 shares of the company’s stock worth $34,000 after purchasing an additional 6,630 shares in the last quarter. Prudential Financial Inc. purchased a new stake in shares of Wave Life Sciences during the second quarter worth about $41,000. Mirabella Financial Services LLP bought a new position in Wave Life Sciences during the first quarter valued at approximately $44,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in Wave Life Sciences during the first quarter valued at approximately $48,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Wave Life Sciences Price Performance

NASDAQ:WVE opened at $6.17 on Friday. The firm has a market capitalization of $754.47 million, a price-to-earnings ratio of -11.22 and a beta of -1.16. Wave Life Sciences Ltd. has a 1 year low of $3.15 and a 1 year high of $7.67. The business has a 50 day simple moving average of $4.97 and a 200-day simple moving average of $5.18.

Wave Life Sciences (NASDAQ:WVEGet Free Report) last issued its quarterly earnings results on Wednesday, March 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.04. The business had revenue of $29.06 million for the quarter, compared to the consensus estimate of $23.30 million. During the same period in the prior year, the business posted ($0.47) earnings per share. As a group, analysts expect that Wave Life Sciences Ltd. will post -0.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on WVE. Leerink Partnrs raised Wave Life Sciences from a “market perform” rating to an “outperform” rating in a research note on Tuesday, December 19th. SVB Leerink raised Wave Life Sciences from a “market perform” rating to an “outperform” rating and increased their price target for the company from $5.00 to $12.00 in a research note on Tuesday, December 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $5.00 price target on shares of Wave Life Sciences in a research note on Thursday, March 7th. HC Wainwright increased their price target on Wave Life Sciences from $8.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, StockNews.com lowered Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 18th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Wave Life Sciences currently has an average rating of “Moderate Buy” and an average target price of $9.00.

View Our Latest Stock Report on WVE

About Wave Life Sciences

(Free Report)

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.

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Institutional Ownership by Quarter for Wave Life Sciences (NASDAQ:WVE)

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