Wave Life Sciences Ltd. (NASDAQ:WVE) Major Shareholder Plc Gsk Buys 2,791,930 Shares

Wave Life Sciences Ltd. (NASDAQ:WVE) major shareholder Plc Gsk acquired 2,791,930 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was purchased at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the purchase, the insider now owns 16,775,691 shares in the company, valued at approximately $134,205,528. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Wave Life Sciences Trading Up 1.2 %

WVE traded up $0.10 during trading on Tuesday, hitting $8.30. 1,152,767 shares of the company traded hands, compared to its average volume of 988,589. Wave Life Sciences Ltd. has a 1 year low of $3.50 and a 1 year high of $9.92. The stock’s 50-day simple moving average is $6.07 and its two-hundred day simple moving average is $5.85. The company has a market cap of $1.02 billion, a PE ratio of -15.81 and a beta of -1.13.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The company had revenue of $19.69 million for the quarter, compared to analysts’ expectations of $24.80 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. During the same quarter in the previous year, the company posted ($0.20) EPS. Equities analysts expect that Wave Life Sciences Ltd. will post -1.04 EPS for the current year.

Institutional Trading of Wave Life Sciences

Hedge funds have recently bought and sold shares of the stock. Trexquant Investment LP acquired a new stake in shares of Wave Life Sciences during the fourth quarter worth about $162,000. TD Asset Management Inc grew its stake in Wave Life Sciences by 26.5% during the 4th quarter. TD Asset Management Inc now owns 205,746 shares of the company’s stock valued at $1,039,000 after acquiring an additional 43,054 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in shares of Wave Life Sciences in the fourth quarter valued at approximately $252,000. Platinum Investment Management Ltd. grew its holdings 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 valued at $3,309,000 after purchasing an additional 200,000 shares during the period. Finally, Birchview Capital LP purchased a new stake in Wave Life Sciences in the fourth quarter valued at $202,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Mizuho reaffirmed an “outperform” rating and set a $19.00 price objective on shares of Wave Life Sciences in a report on Tuesday, June 25th. HC Wainwright upped their target price on Wave Life Sciences from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. initiated coverage on shares of Wave Life Sciences in a report on Friday. They set an “overweight” rating and a $13.00 price objective for the company. Finally, B. Riley started coverage on shares of Wave Life Sciences in a report on Thursday, September 19th. They issued a “buy” rating and a $11.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.75.

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.