Connor Clark & Lunn Investment Management Ltd. Decreases Stake in WAVE Life Sciences Ltd. $WVE

Connor Clark & Lunn Investment Management Ltd. cut its position in WAVE Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 67.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,046 shares of the company's stock after selling 261,825 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.08% of WAVE Life Sciences worth $1,018,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of WAVE Life Sciences by 9.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,673 shares of the company's stock valued at $151,000 after buying an additional 1,564 shares during the period. Chicago Partners Investment Group LLC bought a new stake in WAVE Life Sciences during the 1st quarter worth approximately $103,000. Charles Schwab Investment Management Inc. raised its stake in shares of WAVE Life Sciences by 5.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 963,125 shares of the company's stock valued at $7,782,000 after acquiring an additional 48,656 shares during the last quarter. Vanguard Group Inc. grew its stake in WAVE Life Sciences by 0.8% in the first quarter. Vanguard Group Inc. now owns 3,206,403 shares of the company's stock valued at $25,908,000 after acquiring an additional 23,891 shares during the period. Finally, Privium Fund Management B.V. increased its holdings in shares of WAVE Life Sciences by 29.0% during the first quarter. Privium Fund Management B.V. now owns 113,550 shares of the company's stock valued at $917,000 after acquiring an additional 25,550 shares in the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.

WAVE Life Sciences Price Performance

Shares of NASDAQ WVE traded up $0.25 during trading on Thursday, hitting $9.70. The stock had a trading volume of 450,213 shares, compared to its average volume of 1,326,426. The firm has a fifty day moving average of $7.81 and a two-hundred day moving average of $8.06. The company has a market capitalization of $1.54 billion, a PE ratio of -10.81 and a beta of -0.95. WAVE Life Sciences Ltd. has a 12 month low of $5.04 and a 12 month high of $16.74.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.02). The business had revenue of $8.70 million for the quarter, compared to analysts' expectations of $11.52 million. On average, equities analysts expect that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Insider Buying and Selling at WAVE Life Sciences

In other news, Director Christian O. Henry sold 9,670 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $8.81, for a total transaction of $85,192.70. Following the completion of the sale, the director directly owned 29,645 shares of the company's stock, valued at $261,172.45. This trade represents a 24.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ken Takanashi sold 4,872 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $8.75, for a total transaction of $42,630.00. Following the completion of the transaction, the director directly owned 5,716,303 shares in the company, valued at $50,017,651.25. This trade represents a 0.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,542 shares of company stock worth $336,323 in the last quarter. 23.98% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WVE. Raymond James Financial assumed coverage on WAVE Life Sciences in a report on Wednesday, June 11th. They issued an "outperform" rating and a $14.00 target price on the stock. Wall Street Zen lowered shares of WAVE Life Sciences from a "hold" rating to a "sell" rating in a research note on Friday, May 9th. Canaccord Genuity Group initiated coverage on shares of WAVE Life Sciences in a report on Monday, August 4th. They set a "buy" rating and a $19.00 price objective for the company. Wedbush reissued an "outperform" rating and set a $18.00 target price on shares of WAVE Life Sciences in a research report on Monday, June 23rd. Finally, Wells Fargo & Company dropped their price target on shares of WAVE Life Sciences from $24.00 to $21.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Fourteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.27.

About WAVE Life Sciences

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.