Nuveen Asset Management LLC Increases Position in Wave Life Sciences Ltd. (NASDAQ:WVE)

Nuveen Asset Management LLC lifted its position in Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 32.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 553,439 shares of the company's stock after purchasing an additional 137,159 shares during the quarter. Nuveen Asset Management LLC owned about 0.36% of Wave Life Sciences worth $6,846,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Quarry LP purchased a new position in Wave Life Sciences in the fourth quarter worth about $62,000. KBC Group NV purchased a new position in Wave Life Sciences in the fourth quarter worth about $67,000. Summit Investment Advisors Inc. grew its position 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 acquiring an additional 2,308 shares in the last quarter. Westwood Wealth Management purchased a new position in Wave Life Sciences in the fourth quarter worth about $124,000. Finally, Ameriprise Financial Inc. purchased a new position in Wave Life Sciences in the fourth quarter worth about $129,000. 89.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Wave Life Sciences Stock Performance

NASDAQ:WVE traded down $0.16 during trading hours on Friday, reaching $6.08. The company's stock had a trading volume of 1,272,679 shares, compared to its average volume of 1,300,185. The company has a market capitalization of $937.13 million, a P/E ratio of -5.48 and a beta of -0.92. Wave Life Sciences Ltd. has a 12 month low of $4.25 and a 12 month high of $16.74. The stock has a 50 day moving average price of $6.64 and a two-hundred day moving average price of $10.26.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.02). The business had revenue of $9.18 million during the quarter, compared to the consensus estimate 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) EPS. As a group, analysts predict that Wave Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Christian O. Henry sold 10,500 shares of the company's 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 of the company's stock, valued at approximately $157,443.55. This represents a 39.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Paul Bolno sold 169,025 shares of the company's 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 transaction, the chief executive officer now directly owns 338,351 shares in the company, valued at approximately $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. 29.10% of the stock is currently owned by insiders.

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.