Geode Capital Management LLC raised its stake in shares of Wave Life Sciences Ltd (NASDAQ:WVE) by 8.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 193,595 shares of the company’s stock after purchasing an additional 15,664 shares during the quarter. Geode Capital Management LLC owned about 0.66% of Wave Life Sciences worth $8,138,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of WVE. Quantamental Technologies LLC acquired a new position in Wave Life Sciences during the 4th quarter valued at approximately $29,000. Citigroup Inc. increased its stake in Wave Life Sciences by 189.4% during the 4th quarter. Citigroup Inc. now owns 2,807 shares of the company’s stock valued at $118,000 after purchasing an additional 1,837 shares in the last quarter. United Services Automobile Association acquired a new position in Wave Life Sciences during the 3rd quarter valued at approximately $204,000. Putnam Investments LLC acquired a new position in Wave Life Sciences during the 3rd quarter valued at approximately $207,000. Finally, Jane Street Group LLC acquired a new position in Wave Life Sciences during the 3rd quarter valued at approximately $210,000. Institutional investors and hedge funds own 71.31% of the company’s stock.
A number of brokerages have issued reports on WVE. ValuEngine upgraded shares of Wave Life Sciences from a “buy” rating to a “strong-buy” rating in a research note on Monday, March 11th. Zacks Investment Research lowered shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. Finally, BidaskClub lowered shares of Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $57.75.
WVE stock opened at $24.47 on Wednesday. The firm has a market capitalization of $1.17 billion, a PE ratio of -4.84 and a beta of 0.83. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.13. Wave Life Sciences Ltd has a 12 month low of $22.90 and a 12 month high of $56.00.
Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Friday, March 1st. The company reported ($1.29) EPS for the quarter, missing the consensus estimate of ($1.24) by ($0.05). The business had revenue of $3.62 million during the quarter, compared to analysts’ expectations of $6.01 million. Wave Life Sciences had a negative net margin of 1,017.43% and a negative return on equity of 136.64%. On average, research analysts expect that Wave Life Sciences Ltd will post -3.91 EPS for the current fiscal year.
In other news, insider Michael A. Panzara sold 7,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $48.00, for a total value of $336,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ra Capital Management, Llc acquired 263,158 shares of the company’s stock in a transaction dated Thursday, January 24th. The stock was acquired at an average cost of $38.00 per share, for a total transaction of $10,000,004.00. The disclosure for this purchase can be found here. 44.20% of the stock is owned by corporate insiders.
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Wave Life Sciences Company Profile
Wave Life Sciences Ltd., a biotechnology company, designs, develops, and commercializes nucleic acid therapeutic candidates for genetically defined diseases by utilizing proprietary synthetic chemistry drug development platform. The company is primarily developing oligonucleotides that target genetic defects to either reduce the expression of disease-promoting proteins or transform the production of dysfunctional mutant proteins into the production of functional proteins.
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