Voloridge Investment Management LLC Invests $10.46 Million in Wave Life Sciences Ltd. (NASDAQ:WVE)

Voloridge Investment Management LLC bought a new stake in Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 845,830 shares of the company's stock, valued at approximately $10,463,000. Voloridge Investment Management LLC owned approximately 0.55% of Wave Life Sciences as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Moody Aldrich Partners LLC lifted its stake in Wave Life Sciences by 31.5% in the fourth quarter. Moody Aldrich Partners LLC now owns 398,475 shares of the company's stock valued at $4,929,000 after purchasing an additional 95,413 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Wave Life Sciences by 34.2% during the fourth quarter. Arizona State Retirement System now owns 30,769 shares of the company's stock worth $381,000 after acquiring an additional 7,846 shares in the last quarter. Corebridge Financial Inc. raised its position in shares of Wave Life Sciences by 10.7% in the fourth quarter. Corebridge Financial Inc. now owns 45,824 shares of the company's stock worth $567,000 after buying an additional 4,423 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Wave Life Sciences by 10.2% in the fourth quarter. Vanguard Group Inc. now owns 3,182,512 shares of the company's stock worth $39,368,000 after buying an additional 294,956 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new position in Wave Life Sciences in the fourth quarter valued at $3,076,000. 89.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Wave Life Sciences

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

Wave Life Sciences Trading Down 2.6%

Shares of NASDAQ WVE traded down $0.16 during midday trading on Friday, reaching $6.08. The company had a trading volume of 406,844 shares, compared to its average volume of 1,292,087. The business's 50-day simple moving average is $6.71 and its 200 day simple moving average is $10.37. Wave Life Sciences Ltd. has a 1 year low of $4.25 and a 1 year high of $16.74. The stock has a market cap of $937.13 million, a P/E ratio of -5.50 and a beta of -0.92.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.02). The firm had revenue of $9.18 million for the quarter, compared to analysts' expectations of $11.65 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. During the same period last year, the firm earned ($0.24) earnings per share. Analysts predict that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WVE. HC Wainwright reaffirmed a "buy" rating and set a $22.00 price objective on shares of Wave Life Sciences in a research note on Wednesday, March 26th. Jefferies Financial Group began coverage on Wave Life Sciences in a research note on Tuesday, February 25th. They issued a "buy" rating and a $26.00 price target on the stock. Cantor Fitzgerald started coverage on shares of Wave Life Sciences in a report on Tuesday, April 29th. They set an "overweight" rating and a $10.00 target price for the company. Wall Street Zen downgraded shares of Wave Life Sciences from a "hold" rating to a "sell" rating in a research report on Friday, May 9th. Finally, Wedbush began coverage on shares of Wave Life Sciences in a research report on Tuesday, April 8th. They set an "outperform" rating and a $18.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $21.17.

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.