Intech Investment Management LLC Takes $194,000 Position in Wave Life Sciences Ltd. (NASDAQ:WVE)

Intech Investment Management LLC acquired a new position in Wave Life Sciences Ltd. (NASDAQ:WVE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 23,704 shares of the company’s stock, valued at approximately $194,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. GSA Capital Partners LLP boosted its position in shares of Wave Life Sciences by 14.9% in the third quarter. GSA Capital Partners LLP now owns 63,513 shares of the company’s stock worth $521,000 after purchasing an additional 8,255 shares during the period. Privium Fund Management B.V. purchased a new stake in shares of Wave Life Sciences in the third quarter worth about $400,000. James J. Burns & Company LLC raised its holdings in shares of Wave Life Sciences by 11.2% during the 3rd quarter. James J. Burns & Company LLC now owns 100,111 shares of the company’s stock worth $821,000 after acquiring an additional 10,111 shares in the last quarter. Emerald Advisers LLC lifted its position in Wave Life Sciences by 15.6% during the third quarter. Emerald Advisers LLC now owns 2,881,510 shares of the company’s stock valued at $23,628,000 after purchasing an additional 388,280 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its holdings in shares of Wave Life Sciences by 16.6% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 2,123,466 shares of the company’s stock valued at $17,412,000 after acquiring an additional 302,528 shares during the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Insider Activity

In related news, major shareholder Plc Gsk acquired 2,791,930 shares of the stock in a transaction dated Friday, September 27th. The stock was acquired at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the purchase, the insider now owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This represents a 19.97 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kyle Moran sold 17,146 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total transaction of $154,314.00. Following the sale, the chief financial officer now directly 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. In the last quarter, insiders sold 453,690 shares of company stock worth $6,425,883. Insiders own 29.10% of the company’s stock.

Wave Life Sciences Stock Up 5.7 %

NASDAQ:WVE opened at $15.27 on Friday. The firm has a 50 day moving average of $13.18 and a 200 day moving average of $8.43. Wave Life Sciences Ltd. has a 52 week low of $3.50 and a 52 week high of $16.74. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of -13.76 and a beta of -1.21.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on WVE shares. Royal Bank of Canada lifted their price target on shares of Wave Life Sciences from $7.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Monday, October 21st. HC Wainwright reiterated a “buy” rating and issued a $22.00 target price on shares of Wave Life Sciences in a report on Wednesday, November 13th. Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $13.00 to $22.00 in a report on Wednesday, October 16th. Wells Fargo & Company boosted their price target on shares of Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Mizuho increased their price objective 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.