Jump Financial LLC lessened its position in WAVE Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 66.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,761 shares of the company's stock after selling 81,946 shares during the quarter. Jump Financial LLC's holdings in WAVE Life Sciences were worth $337,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new position in shares of WAVE Life Sciences in the fourth quarter valued at approximately $40,000. Knott David M Jr purchased a new position in shares of WAVE Life Sciences in the first quarter valued at approximately $81,000. Ameriprise Financial Inc. purchased a new position in shares of WAVE Life Sciences in the fourth quarter valued at approximately $129,000. Rafferty Asset Management LLC purchased a new position in shares of WAVE Life Sciences in the fourth quarter valued at approximately $154,000. Finally, Chicago Partners Investment Group LLC purchased a new position in shares of WAVE Life Sciences in the first quarter valued at approximately $103,000. Hedge funds and other institutional investors own 89.73% of the company's stock.
WAVE Life Sciences Trading Up 1.3%
WVE traded up $0.11 during mid-day trading on Friday, hitting $8.29. 2,792,265 shares of the stock were exchanged, compared to its average volume of 1,417,726. The firm's fifty day moving average is $8.40 and its two-hundred day moving average is $7.94. WAVE Life Sciences Ltd. has a 1-year low of $5.04 and a 1-year high of $16.74. The company has a market cap of $1.32 billion, a PE ratio of -9.21 and a beta of -1.15.
WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.02). The company had revenue of $8.70 million during the quarter, compared to analysts' expectations of $11.52 million. As a group, research analysts anticipate that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current year.
Insider Transactions at WAVE Life Sciences
In related news, Director Christian O. Henry sold 9,670 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $8.81, for a total transaction of $85,192.70. Following the transaction, the director owned 29,645 shares of the company's stock, valued at approximately $261,172.45. This represents a 24.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paul Bolno sold 217,351 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $10.10, for a total value of $2,195,245.10. Following the transaction, the chief executive officer directly owned 121,000 shares in the company, valued at approximately $1,222,100. The trade was a 64.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 271,893 shares of company stock worth $2,631,568 in the last 90 days. Insiders own 23.98% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on WVE shares. Citigroup started coverage on WAVE Life Sciences in a research report on Wednesday, July 16th. They set a "buy" rating and a $16.00 price objective on the stock. Canaccord Genuity Group started coverage on WAVE Life Sciences in a research report on Monday, August 4th. They set a "buy" rating and a $19.00 price objective on the stock. Oppenheimer started coverage on WAVE Life Sciences in a research report on Monday, July 28th. They set an "outperform" rating and a $24.00 price objective on the stock. Wedbush reiterated an "outperform" rating and set a $18.00 price objective on shares of WAVE Life Sciences in a research report on Monday, June 23rd. Finally, Wall Street Zen downgraded WAVE Life Sciences from a "hold" rating to a "sell" rating in a research report on Friday, May 9th. Fourteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, WAVE Life Sciences currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.07.
Check Out Our Latest Stock Analysis on WAVE Life Sciences
About WAVE Life Sciences
(
Free Report)
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.
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