Emerald Mutual Fund Advisers Trust Sells 192,432 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

Emerald Mutual Fund Advisers Trust trimmed its stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 9.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,931,034 shares of the company's stock after selling 192,432 shares during the quarter. Wave Life Sciences comprises approximately 1.5% of Emerald Mutual Fund Advisers Trust's investment portfolio, making the stock its 14th biggest position. Emerald Mutual Fund Advisers Trust owned about 1.27% of Wave Life Sciences worth $23,887,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northern Trust Corp increased its stake in shares of Wave Life Sciences by 20.3% during the fourth quarter. Northern Trust Corp now owns 961,751 shares of the company's stock worth $11,897,000 after purchasing an additional 162,386 shares during the period. The Manufacturers Life Insurance Company increased its position in Wave Life Sciences by 23.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 207,687 shares of the company's stock worth $2,569,000 after buying an additional 39,546 shares during the period. Quarry LP bought a new position in Wave Life Sciences during the 4th quarter worth $62,000. Aquatic Capital Management LLC acquired a new stake in shares of Wave Life Sciences during the fourth quarter worth $1,015,000. Finally, Nebula Research & Development LLC bought a new stake in shares of Wave Life Sciences in the fourth quarter valued at about $336,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Wave Life Sciences

In related news, CEO Paul Bolno sold 169,025 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $9.57, for a total value of $1,617,569.25. Following the completion of the sale, the chief executive officer now directly owns 338,351 shares of the company's stock, valued at approximately $3,238,019.07. This represents a 33.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Christian O. Henry sold 10,500 shares of Wave Life Sciences stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $9.77, for a total transaction of $102,585.00. Following the transaction, the director now directly owns 16,115 shares in the company, valued at $157,443.55. This represents a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.10% of the stock is currently owned by company insiders.

Wave Life Sciences Stock Performance

Shares of NASDAQ WVE traded up $0.16 during trading on Friday, hitting $8.10. 3,725,765 shares of the company traded hands, compared to its average volume of 1,239,684. Wave Life Sciences Ltd. has a fifty-two week low of $4.25 and a fifty-two week high of $16.74. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -7.30 and a beta of -0.91. The business's fifty day moving average is $8.16 and its 200 day moving average is $11.46.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last announced its quarterly earnings data on Tuesday, March 4th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of ($0.17) by $0.34. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. The firm had revenue of $83.75 million during the quarter, compared to analysts' expectations of $25.60 million. On average, analysts predict that Wave Life Sciences Ltd. will post -1.14 EPS for the current year.

Analyst Upgrades and Downgrades

WVE has been the subject of several analyst reports. Cantor Fitzgerald initiated coverage on shares of Wave Life Sciences in a research note on Tuesday. They issued an "overweight" rating and a $10.00 price objective for the company. Jefferies Financial Group assumed coverage on shares of Wave Life Sciences in a research report on Tuesday, February 25th. They issued a "buy" rating and a $26.00 price target for the company. HC Wainwright reissued a "buy" rating and set a $22.00 price target on shares of Wave Life Sciences in a research report on Wednesday, March 26th. Wedbush began coverage on Wave Life Sciences in a report on Tuesday, April 8th. They issued an "outperform" rating and a $18.00 price objective for the company. Finally, StockNews.com upgraded Wave Life Sciences from a "sell" rating to a "hold" rating in a research report on Saturday, March 8th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $21.17.

Wave Life Sciences 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.