Rhumbline Advisers lowered its stake in shares of Wave Life Sciences Ltd (NASDAQ:WVE) by 17.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,461 shares of the company’s stock after selling 2,216 shares during the quarter. Rhumbline Advisers’ holdings in Wave Life Sciences were worth $367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in WVE. The Manufacturers Life Insurance Company grew its holdings in Wave Life Sciences by 71.0% in the second quarter. The Manufacturers Life Insurance Company now owns 9,422 shares of the company’s stock worth $175,000 after purchasing an additional 3,912 shares during the period. State of Wisconsin Investment Board purchased a new stake in Wave Life Sciences in the fourth quarter worth about $316,000. California State Teachers Retirement System grew its holdings in Wave Life Sciences by 43.8% in the second quarter. California State Teachers Retirement System now owns 21,009 shares of the company’s stock worth $391,000 after purchasing an additional 6,400 shares during the period. Bank of New York Mellon Corp grew its holdings in Wave Life Sciences by 5.5% in the third quarter. Bank of New York Mellon Corp now owns 49,693 shares of the company’s stock worth $1,081,000 after purchasing an additional 2,589 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its holdings in Wave Life Sciences by 6.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 56,537 shares of the company’s stock worth $1,230,000 after purchasing an additional 3,325 shares during the period. Institutional investors own 79.40% of the company’s stock.
A number of equities research analysts have weighed in on the stock. Leerink Swann cut their price objective on shares of Wave Life Sciences from $64.00 to $62.00 and set an “outperform” rating on the stock in a report on Tuesday, March 13th. Mizuho set a $34.00 price objective on shares of Wave Life Sciences and gave the stock a “buy” rating in a report on Tuesday, February 20th. BidaskClub upgraded shares of Wave Life Sciences from a “hold” rating to a “buy” rating in a report on Tuesday, February 13th. SunTrust Banks upped their price objective on shares of Wave Life Sciences to $60.00 and gave the stock a “buy” rating in a report on Friday, March 9th. Finally, TheStreet upgraded shares of Wave Life Sciences from a “d+” rating to a “c-” rating in a report on Friday, January 5th. Two investment analysts have rated the stock with a sell rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $53.40.
In other news, insider Michael A. Panzara sold 511 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $52.10, for a total transaction of $26,623.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Francis sold 21,639 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $55.40, for a total transaction of $1,198,800.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,466 shares of company stock worth $1,321,808. Corporate insiders own 53.00% of the company’s stock.
NASDAQ:WVE opened at $39.80 on Friday. Wave Life Sciences Ltd has a 52 week low of $15.15 and a 52 week high of $55.95. The company has a quick ratio of 7.67, a current ratio of 7.67 and a debt-to-equity ratio of 0.02.
Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Monday, March 12th. The company reported ($1.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.00) by ($0.09). Wave Life Sciences had a negative net margin of 2,754.73% and a negative return on equity of 66.73%. The firm had revenue of $1.68 million for the quarter, compared to analysts’ expectations of $0.63 million. equities analysts expect that Wave Life Sciences Ltd will post -3.6 earnings per share for the current year.
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About Wave Life Sciences
WAVE Life Sciences Ltd. is a genetic medicines company. The Company, through its synthetic chemistry drug development platform, designs, develops and commercializes a pipeline of nucleic acid therapeutic candidates for genetically defined diseases. The Company is engaged in 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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