Orion Portfolio Solutions LLC Acquires Shares of 14,941 Wave Life Sciences Ltd. (NASDAQ:WVE)

Orion Portfolio Solutions LLC bought a new position in Wave Life Sciences Ltd. (NASDAQ:WVE) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 14,941 shares of the company’s stock, valued at approximately $123,000.

Several other institutional investors also recently modified their holdings of WVE. Emerald Advisers LLC bought a new stake in Wave Life Sciences during the second quarter worth $12,441,000. Maverick Capital Ltd. raised its stake in shares of Wave Life Sciences by 31.0% during the 3rd quarter. Maverick Capital Ltd. now owns 10,047,520 shares of the company’s stock worth $82,390,000 after purchasing an additional 2,378,159 shares during the period. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Wave Life Sciences during the 2nd quarter worth $9,086,000. FMR LLC boosted its holdings in shares of Wave Life Sciences by 174.5% in the 3rd quarter. FMR LLC now owns 1,540,190 shares of the company’s stock worth $12,630,000 after buying an additional 979,110 shares during the last quarter. Finally, RTW Investments LP bought a new position in Wave Life Sciences during the third quarter valued at about $7,380,000. 89.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Kyle Moran sold 17,146 shares of Wave Life Sciences stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total transaction of $154,314.00. Following the completion of the sale, the chief financial officer now owns 19,777 shares of the company’s stock, valued at approximately $177,993. This trade represents a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Plc Gsk bought 2,791,930 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was acquired at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the purchase, 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 in the last quarter. 29.10% of the stock is owned by company insiders.

Wave Life Sciences Stock Performance

Shares of NASDAQ WVE opened at $13.51 on Friday. 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 $2.06 billion, a PE ratio of -12.17 and a beta of -1.21. The stock has a fifty day moving average of $14.32 and a 200-day moving average of $8.98.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. B. Riley boosted their target price on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Royal Bank of Canada upped their price objective on Wave Life Sciences from $7.00 to $15.00 and gave the company a “sector perform” rating in a research note on Monday, October 21st. HC Wainwright reissued a “buy” rating and issued a $22.00 target price on shares of Wave Life Sciences in a research report on Wednesday, November 13th. Wells Fargo & Company boosted their target price on Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.22.

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.