WAVE Life Sciences Ltd. $WVE Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its stake in WAVE Life Sciences Ltd. (NASDAQ:WVE) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 299,669 shares of the company’s stock after selling 11,634 shares during the quarter. Wellington Management Group LLP owned about 0.19% of WAVE Life Sciences worth $2,421,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WVE. Polar Capital Holdings Plc bought a new position in WAVE Life Sciences in the 4th quarter valued at about $12,370,000. MPM Bioimpact LLC grew its position in WAVE Life Sciences by 138.5% in the 4th quarter. MPM Bioimpact LLC now owns 1,489,237 shares of the company’s stock valued at $18,422,000 after buying an additional 864,766 shares in the last quarter. Driehaus Capital Management LLC grew its position in WAVE Life Sciences by 14.6% in the 4th quarter. Driehaus Capital Management LLC now owns 6,712,449 shares of the company’s stock valued at $83,033,000 after buying an additional 853,589 shares in the last quarter. Voloridge Investment Management LLC bought a new position in WAVE Life Sciences in the 4th quarter valued at about $10,463,000. Finally, Stempoint Capital LP grew its position in WAVE Life Sciences by 140.4% in the 4th quarter. Stempoint Capital LP now owns 721,209 shares of the company’s stock valued at $8,921,000 after buying an additional 421,209 shares in the last quarter. Institutional investors own 89.73% of the company’s stock.

Insider Buying and Selling

In related news, Director Christian O. Henry sold 9,670 shares of WAVE Life Sciences stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $8.81, for a total value of $85,192.70. Following the transaction, the director owned 29,645 shares of the company’s stock, valued at approximately $261,172.45. This trade represents a 24.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ken Takanashi sold 4,872 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $8.75, for a total value of $42,630.00. Following the sale, the director owned 5,716,303 shares of the company’s stock, valued at $50,017,651.25. The trade was a 0.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 271,893 shares of company stock worth $2,631,568. Company insiders own 23.98% of the company’s stock.

Wall Street Analysts Forecast Growth

WVE has been the subject of a number of research analyst reports. Citigroup initiated coverage on shares of WAVE Life Sciences in a report on Wednesday, July 16th. They issued a “buy” rating and a $16.00 price target for the company. Canaccord Genuity Group initiated coverage on shares of WAVE Life Sciences in a report on Monday, August 4th. They issued a “buy” rating and a $19.00 price target for the company. Oppenheimer initiated coverage on shares of WAVE Life Sciences in a report on Monday, July 28th. They issued an “outperform” rating and a $24.00 price target for the company. Wall Street Zen downgraded shares of WAVE Life Sciences from a “hold” rating to a “sell” rating in a report on Friday, May 9th. Finally, Wedbush reissued an “outperform” rating and issued a $18.00 price target on shares of WAVE Life Sciences in a report on Monday, June 23rd. Fourteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.27.

WAVE Life Sciences Trading Down 3.3%

Shares of WVE opened at $9.60 on Friday. The business’s 50-day moving average price is $8.24 and its 200 day moving average price is $7.97. The stock has a market capitalization of $1.53 billion, a P/E ratio of -10.67 and a beta of -0.95. WAVE Life Sciences Ltd. has a 1-year low of $5.04 and a 1-year high of $16.74.

WAVE Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Wednesday, July 30th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.02). The company had revenue of $8.70 million during the quarter, compared to analysts’ expectations of $11.52 million. On average, research analysts predict that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current 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.