Wave Life Sciences Ltd. (NASDAQ:WVE) Holdings Increased by Northern Trust Corp

Northern Trust Corp grew its stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 20.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 961,751 shares of the company’s stock after buying an additional 162,386 shares during the quarter. Northern Trust Corp owned about 0.63% of Wave Life Sciences worth $11,897,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WVE. Victory Capital Management Inc. raised its holdings in shares of Wave Life Sciences by 16.6% in the 4th quarter. Victory Capital Management Inc. now owns 14,546 shares of the company’s stock worth $180,000 after purchasing an additional 2,073 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Wave Life Sciences by 31.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company’s stock worth $119,000 after purchasing an additional 2,308 shares in the last quarter. Kraematon Investment Advisors Inc. raised its holdings in shares of Wave Life Sciences by 24.3% in the 4th quarter. Kraematon Investment Advisors Inc. now owns 19,885 shares of the company’s stock worth $246,000 after purchasing an additional 3,885 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Wave Life Sciences by 36.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 15,579 shares of the company’s stock worth $193,000 after purchasing an additional 4,120 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Wave Life Sciences by 12.2% in the 4th quarter. Invesco Ltd. now owns 40,010 shares of the company’s stock worth $495,000 after purchasing an additional 4,351 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors.

Wave Life Sciences Stock Performance

Shares of WVE opened at $6.33 on Friday. The company’s 50 day moving average price is $7.42 and its 200 day moving average price is $10.89. Wave Life Sciences Ltd. has a 52 week low of $4.25 and a 52 week high of $16.74. The company has a market capitalization of $975.39 million, a PE ratio of -5.70 and a beta of -0.92.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. The company had revenue of $9.18 million for the quarter, compared to analysts’ expectations of $11.65 million. During the same period in the previous year, the firm posted ($0.24) earnings per share. On average, equities analysts forecast that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WVE. StockNews.com downgraded shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Friday, May 9th. Jefferies Financial Group began coverage on shares of Wave Life Sciences in a report on Tuesday, February 25th. They set a “buy” rating and a $26.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a research report on Wednesday, March 26th. Cantor Fitzgerald began coverage on shares of Wave Life Sciences in a research report on Tuesday, April 29th. They issued an “overweight” rating and a $10.00 price target for the company. Finally, Wedbush began coverage on shares of Wave Life Sciences in a research report on Tuesday, April 8th. They issued an “outperform” rating and a $18.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.17.

Insider Activity at Wave Life Sciences

In other Wave Life Sciences news, CEO Paul Bolno sold 169,025 shares of the business’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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 sale, the director now directly owns 16,115 shares of the company’s stock, valued at $157,443.55. This represents a 39.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.10% of the stock is currently owned by insiders.

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.