Point72 Asset Management L.P. Lowers Stock Holdings in Wave Life Sciences Ltd. (NASDAQ:WVE)

Point72 Asset Management L.P. decreased its holdings in Wave Life Sciences Ltd. (NASDAQ:WVE) by 75.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 28,096 shares of the company’s stock after selling 87,382 shares during the quarter. Point72 Asset Management L.P.’s holdings in Wave Life Sciences were worth $230,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Wave Life Sciences by 39.7% during the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock worth $11,316,000 after acquiring an additional 521,665 shares in the last quarter. SG Americas Securities LLC purchased a new position in Wave Life Sciences in the 2nd quarter valued at $668,000. Bank of New York Mellon Corp raised its holdings in Wave Life Sciences by 13.9% during the second quarter. Bank of New York Mellon Corp now owns 225,402 shares of the company’s stock worth $1,125,000 after purchasing an additional 27,524 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Wave Life Sciences by 75.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,491 shares of the company’s stock valued at $167,000 after buying an additional 14,371 shares during the period. Finally, Principal Financial Group Inc. acquired a new stake in Wave Life Sciences in the second quarter valued at $74,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Wall Street Analysts Forecast Growth

WVE has been the topic of a number of research reports. Raymond James upgraded Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $13.00 to $22.00 in a report on Wednesday, October 16th. StockNews.com downgraded Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. raised their target price on shares of Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Truist Financial lifted their target price on Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Leerink Partners raised their price target on shares of Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.22.

Insider Buying and Selling at Wave Life Sciences

In related news, CFO Kyle Moran sold 17,146 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the sale, the chief financial officer now owns 19,777 shares of the company’s stock, valued at $177,993. This trade represents a 46.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Plc Gsk purchased 2,791,930 shares of the company’s stock in a transaction on Friday, September 27th. The stock was purchased at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the purchase, the insider now directly owns 16,775,691 shares of the company’s stock, valued at $134,205,528. This trade represents a 19.97 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 453,690 shares of company stock worth $6,425,883 over the last quarter. 29.10% of the stock is owned by corporate insiders.

Wave Life Sciences Stock Performance

Shares of NASDAQ WVE opened at $13.85 on Friday. The stock’s 50-day simple moving average is $13.70 and its 200-day simple moving average is $8.67. Wave Life Sciences Ltd. has a 1 year low of $3.50 and a 1 year high of $16.74. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -12.48 and a beta of -1.21.

Wave Life Sciences Company 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.