BNP Paribas Financial Markets Buys 34,588 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

BNP Paribas Financial Markets boosted its holdings in Wave Life Sciences Ltd. (NASDAQ:WVE) by 477.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,828 shares of the company’s stock after purchasing an additional 34,588 shares during the quarter. BNP Paribas Financial Markets’ holdings in Wave Life Sciences were worth $343,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its position in Wave Life Sciences by 23.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock valued at $37,000 after buying an additional 856 shares during the period. Mackenzie Financial Corp raised its stake in Wave Life Sciences by 13.6% in the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after purchasing an additional 1,905 shares in the last quarter. Rhumbline Advisers raised its stake in Wave Life Sciences by 3.4% in the second quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock valued at $628,000 after purchasing an additional 4,092 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Wave Life Sciences by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 139,790 shares of the company’s stock valued at $698,000 after purchasing an additional 4,914 shares in the last quarter. Finally, US Bancorp DE grew its position in Wave Life Sciences by 53.9% during the third quarter. US Bancorp DE now owns 18,043 shares of the company’s stock valued at $148,000 after acquiring an additional 6,316 shares during the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Wave Life Sciences

In other news, major shareholder Plc Gsk acquired 2,791,930 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were acquired at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the acquisition, the insider now directly owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. The trade was a 19.97 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Paul Bolno sold 90,474 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $15.00, for a total value of $1,357,110.00. Following the sale, the chief executive officer now directly owns 268,585 shares in the company, valued at $4,028,775. This trade represents a 25.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 453,690 shares of company stock worth $6,425,883. 29.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on WVE shares. Truist Financial increased their price target on shares of Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Raymond James raised Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $13.00 to $22.00 in a research report on Wednesday, October 16th. Wells Fargo & Company raised their price objective on Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price target on Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada lifted their price objective on 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 equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Wave Life Sciences has an average rating of “Moderate Buy” and a consensus price target of $22.22.

Wave Life Sciences Trading Down 3.0 %

Shares of NASDAQ:WVE opened at $13.44 on Friday. The stock has a 50 day moving average of $13.80 and a 200 day moving average of $8.74. The company has a market cap of $2.05 billion, a PE ratio of -12.11 and a beta of -1.21. Wave Life Sciences Ltd. has a 12-month low of $3.50 and a 12-month high of $16.74.

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.