Wells Fargo & Company MN Purchases 22,873 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

Wells Fargo & Company MN raised its position in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 84.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,856 shares of the company’s stock after buying an additional 22,873 shares during the period. Wells Fargo & Company MN’s holdings in Wave Life Sciences were worth $617,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Wave Life Sciences by 10.2% in the fourth quarter. Vanguard Group Inc. now owns 3,182,512 shares of the company’s stock valued at $39,368,000 after acquiring an additional 294,956 shares in the last quarter. Emerald Advisers LLC boosted its stake in shares of Wave Life Sciences by 9.7% during the 4th quarter. Emerald Advisers LLC now owns 3,162,369 shares of the company’s stock valued at $39,119,000 after purchasing an additional 280,859 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Wave Life Sciences by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 2,470,751 shares of the company’s stock valued at $30,571,000 after buying an additional 201,087 shares during the period. Loomis Sayles & Co. L P purchased a new position in shares of Wave Life Sciences during the fourth quarter valued at about $20,545,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Wave Life Sciences by 8.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 914,469 shares of the company’s stock worth $11,312,000 after buying an additional 69,852 shares in the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Wall Street Analysts Forecast Growth

WVE has been the subject of several research reports. Cantor Fitzgerald started coverage on Wave Life Sciences in a research report on Tuesday. They issued an “overweight” rating and a $10.00 target price for the company. Jefferies Financial Group started coverage on Wave Life Sciences in a report on Tuesday, February 25th. They issued a “buy” rating and a $26.00 price objective for the company. StockNews.com upgraded shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. HC Wainwright reiterated a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a research note on Wednesday, March 26th. Finally, Wedbush began coverage on shares of Wave Life Sciences in a research note on Tuesday, April 8th. They set an “outperform” rating and a $18.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.17.

Insider Activity

In other Wave Life Sciences news, Director Christian O. Henry sold 10,500 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $9.77, for a total value of $102,585.00. Following the transaction, the director now directly owns 16,115 shares of the company’s stock, valued at approximately $157,443.55. This trade represents a 39.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Paul Bolno sold 169,025 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the sale, the chief executive officer now directly owns 338,351 shares of the company’s stock, valued at $3,238,019.07. The trade was a 33.31 % decrease in their position. The disclosure for this sale can be found here. 29.10% of the stock is owned by corporate insiders.

Wave Life Sciences Trading Up 2.0 %

Wave Life Sciences stock opened at $8.10 on Friday. Wave Life Sciences Ltd. has a 12 month low of $4.25 and a 12 month high of $16.74. The stock has a fifty day simple moving average of $8.16 and a two-hundred day simple moving average of $11.46. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -7.30 and a beta of -0.93.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Tuesday, March 4th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.34. The company 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, equities research analysts forecast that Wave Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

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.