Voloridge Investment Management LLC Makes New Investment in Wave Life Sciences Ltd. (NASDAQ:WVE)

Voloridge Investment Management LLC bought a new stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 845,830 shares of the company's stock, valued at approximately $10,463,000. Voloridge Investment Management LLC owned 0.55% of Wave Life Sciences at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Quarry LP purchased a new stake in Wave Life Sciences during the 4th quarter valued at $62,000. KBC Group NV purchased a new position in Wave Life Sciences during the 4th quarter valued at about $67,000. Summit Investment Advisors Inc. grew its holdings in Wave Life Sciences by 31.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company's stock worth $119,000 after purchasing an additional 2,308 shares during the period. Westwood Wealth Management purchased a new position in shares of Wave Life Sciences during the fourth quarter valued at approximately $124,000. Finally, Ameriprise Financial Inc. purchased a new stake in shares of Wave Life Sciences in the 4th quarter worth approximately $129,000. 89.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity

In related news, 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 sale, the director now owns 16,115 shares of the company's stock, valued at $157,443.55. This represents a 39.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Paul Bolno sold 169,025 shares of Wave Life Sciences stock in a transaction on Friday, March 7th. The stock was sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the completion of the transaction, the chief executive officer now directly owns 338,351 shares of the company's stock, valued at $3,238,019.07. The trade was a 33.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 29.10% of the company's stock.

Wave Life Sciences Stock Up 3.1%

WVE stock traded up $0.19 during midday trading on Thursday, hitting $6.24. The company's stock had a trading volume of 916,735 shares, compared to its average volume of 1,257,629. Wave Life Sciences Ltd. has a 12 month low of $4.25 and a 12 month high of $16.74. The company has a 50 day moving average of $6.79 and a two-hundred day moving average of $10.44. The firm has a market capitalization of $961.80 million, a price-to-earnings ratio of -5.62 and a beta of -0.92.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last announced its quarterly 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). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. The firm had revenue of $9.18 million for the quarter, compared to the consensus estimate of $11.65 million. During the same period in the previous year, the company posted ($0.24) earnings per share. On average, analysts anticipate that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

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.