Wellington Management Group LLP Cuts Stake in Wave Life Sciences Ltd. (NASDAQ:WVE)

Wellington Management Group LLP lessened its stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 26.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 315,502 shares of the company’s stock after selling 112,809 shares during the period. Wellington Management Group LLP’s holdings in Wave Life Sciences were worth $2,587,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in WVE. Charles Schwab Investment Management Inc. grew its position in shares of Wave Life Sciences by 209.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,617 shares of the company’s stock valued at $6,926,000 after acquiring an additional 571,345 shares during the period. FMR LLC grew its holdings in Wave Life Sciences by 174.5% during the third quarter. FMR LLC now owns 1,540,190 shares of the company’s stock valued at $12,630,000 after purchasing an additional 979,110 shares during the period. Maven Securities LTD purchased a new stake in Wave Life Sciences in the third quarter worth $6,970,000. Privium Fund Management B.V. bought a new stake in shares of Wave Life Sciences in the third quarter valued at $400,000. Finally, Moody Aldrich Partners LLC raised its stake in shares of Wave Life Sciences by 69.0% in the third quarter. Moody Aldrich Partners LLC now owns 303,062 shares of the company’s stock valued at $2,485,000 after buying an additional 123,703 shares during the period. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Wave Life Sciences Stock Performance

Wave Life Sciences stock opened at $14.45 on Wednesday. Wave Life Sciences Ltd. has a fifty-two week low of $3.50 and a fifty-two week high of $16.74. The stock has a market cap of $2.20 billion, a P/E ratio of -13.02 and a beta of -1.21. The firm’s fifty day moving average price is $13.90 and its 200-day moving average price is $8.81.

Insider Buying and Selling

In other Wave Life Sciences news, insider Chris Francis sold 36,000 shares of Wave Life Sciences stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $16.00, for a total transaction of $576,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Plc Gsk purchased 2,791,930 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was bought at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the acquisition, the insider now directly owns 16,775,691 shares in the company, valued at approximately $134,205,528. The trade was a 19.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 453,690 shares of company stock worth $6,425,883 over the last ninety days. 29.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

WVE has been the subject of several recent research reports. StockNews.com lowered Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. Royal Bank of Canada lifted their target price on shares of Wave Life Sciences from $7.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. upped their price target on shares of Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Raymond James raised shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $13.00 to $22.00 in a report on Wednesday, October 16th. Finally, Wells Fargo & Company boosted their target price on shares of Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.22.

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.