Wave Life Sciences Ltd. (NASDAQ:WVE) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in Wave Life Sciences Ltd. (NASDAQ:WVE) by 14.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,269,664 shares of the company’s stock after purchasing an additional 283,419 shares during the period. Geode Capital Management LLC’s holdings in Wave Life Sciences were worth $18,615,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of WVE. Maverick Capital Ltd. lifted its stake in Wave Life Sciences by 31.0% during the third 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 last quarter. Emerald Advisers LLC raised its holdings in shares of Wave Life Sciences by 15.6% during the third quarter. Emerald Advisers LLC now owns 2,881,510 shares of the company’s stock worth $23,628,000 after purchasing an additional 388,280 shares during the period. State Street Corp lifted its position in shares of Wave Life Sciences by 2.6% in the 3rd quarter. State Street Corp now owns 2,321,248 shares of the company’s stock worth $19,034,000 after buying an additional 57,822 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its holdings in shares of Wave Life Sciences by 16.6% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 2,123,466 shares of the company’s stock valued at $17,412,000 after buying an additional 302,528 shares during the period. Finally, Millennium Management LLC grew its position in shares of Wave Life Sciences by 1.8% during the 2nd quarter. Millennium Management LLC now owns 1,664,300 shares of the company’s stock valued at $8,305,000 after buying an additional 28,690 shares during the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on WVE. 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 research note on Tuesday, November 12th. B. Riley upped their price objective on Wave Life Sciences from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Mizuho raised their target price on Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. boosted their price target on shares of Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada increased their price objective on shares of Wave Life Sciences from $7.00 to $15.00 and gave the stock a “sector perform” rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.22.

Wave Life Sciences Stock Down 4.3 %

Shares of Wave Life Sciences stock opened at $12.90 on Friday. Wave Life Sciences Ltd. has a 12-month low of $3.50 and a 12-month high of $16.74. The firm has a market capitalization of $1.97 billion, a PE ratio of -11.62 and a beta of -1.21. The stock’s fifty day moving average is $14.41 and its 200-day moving average is $9.25.

Insider Activity

In related news, insider Chris Francis sold 36,000 shares of the firm’s 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 SEC, which is available at this hyperlink. Also, CEO Paul Bolno sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $15.00, for a total transaction of $750,000.00. Following the completion of the sale, the chief executive officer now directly owns 217,351 shares of the company’s stock, valued at $3,260,265. This represents a 18.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 436,544 shares of company stock worth $6,271,569 over the last quarter. Corporate insiders own 29.10% of the company’s stock.

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.