Wellington Management Group LLP Boosts Holdings in Wave Life Sciences Ltd. (NASDAQ:WVE)

Wellington Management Group LLP grew its stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 274,093 shares of the company’s stock after buying an additional 9,208 shares during the period. Wellington Management Group LLP owned 0.28% of Wave Life Sciences worth $1,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. M28 Capital Management LP increased its holdings in Wave Life Sciences by 4.7% in the 4th quarter. M28 Capital Management LP now owns 7,373,413 shares of the company’s stock valued at $37,236,000 after acquiring an additional 328,913 shares during the last quarter. Platinum Investment Management Ltd. lifted its position in shares of Wave Life Sciences by 43.9% in the fourth quarter. Platinum Investment Management Ltd. now owns 655,331 shares of the company’s stock worth $3,309,000 after buying an additional 200,000 shares in the last quarter. Swiss National Bank bought a new position in Wave Life Sciences during the fourth quarter valued at approximately $770,000. Monashee Investment Management LLC purchased a new position in Wave Life Sciences during the 4th quarter valued at approximately $522,000. Finally, a16z Perennial Management L.P. bought a new stake in Wave Life Sciences in the 4th quarter worth approximately $392,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Wave Life Sciences Stock Up 4.9 %

WVE opened at $5.24 on Tuesday. The business has a fifty day moving average of $5.73 and a 200 day moving average of $5.32. The stock has a market cap of $641.13 million, a P/E ratio of -10.07 and a beta of -1.12. Wave Life Sciences Ltd. has a 52-week low of $3.50 and a 52-week high of $7.67.

Wave Life Sciences (NASDAQ:WVE) last issued its earnings results on Thursday, May 9th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The firm had revenue of $12.54 million for the quarter, compared to analysts’ expectations of $25.67 million. During the same period in the prior year, the company earned ($0.27) earnings per share. Equities analysts anticipate that Wave Life Sciences Ltd. will post -0.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on WVE shares. HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Wave Life Sciences in a report on Wednesday, June 26th. StockNews.com downgraded shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Wells Fargo & Company began coverage on Wave Life Sciences in a research note on Wednesday, May 15th. They set an “overweight” rating and a $11.00 price objective on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $5.00 target price on shares of Wave Life Sciences in a report on Thursday, March 7th. Finally, Truist Financial restated a “buy” rating and set a $17.00 price target on shares of Wave Life Sciences in a report on Monday, April 1st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.29.

Insider Buying and Selling at Wave Life Sciences

In other Wave Life Sciences news, CFO Kyle Moran sold 15,630 shares of Wave Life Sciences stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $6.17, for a total transaction of $96,437.10. Following the completion of the sale, the chief financial officer now directly owns 33,921 shares of the company’s stock, valued at approximately $209,292.57. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 29.10% of the stock is owned by corporate insiders.

About Wave Life Sciences

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.