Polar Asset Management Partners Inc. Increases Stock Holdings in Wave Life Sciences Ltd. (NASDAQ:WVE)

Polar Asset Management Partners Inc. lifted its holdings in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 14.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 557,323 shares of the company's stock after purchasing an additional 71,300 shares during the quarter. Polar Asset Management Partners Inc. owned about 0.37% of Wave Life Sciences worth $6,894,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in shares of Wave Life Sciences by 63.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,098,866 shares of the company's stock worth $63,074,000 after acquiring an additional 1,972,262 shares during the period. Loomis Sayles & Co. L P acquired a new stake in shares of Wave Life Sciences during the 4th quarter worth $20,545,000. Polar Capital Holdings Plc purchased a new stake in shares of Wave Life Sciences during the 4th quarter worth about $12,370,000. MPM Bioimpact LLC lifted its holdings in shares of Wave Life Sciences by 138.5% during the 4th quarter. MPM Bioimpact LLC now owns 1,489,237 shares of the company's stock valued at $18,422,000 after acquiring an additional 864,766 shares in the last quarter. Finally, Driehaus Capital Management LLC raised its holdings in shares of Wave Life Sciences by 14.6% during the 4th quarter. Driehaus Capital Management LLC now owns 6,712,449 shares of the company's stock valued at $83,033,000 after buying an additional 853,589 shares during the period. Hedge funds and other institutional investors own 89.73% of the company's stock.

Insider Activity

In other Wave Life Sciences news, CEO Paul Bolno sold 169,025 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the transaction, the chief executive officer now directly owns 338,351 shares of the company's stock, valued at approximately $3,238,019.07. The trade was a 33.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christian O. Henry sold 10,500 shares of the stock in a transaction dated Thursday, March 20th. The stock was 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 directly owns 16,115 shares of the company's stock, valued at approximately $157,443.55. The trade was a 39.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 29.10% of the company's stock.

Analyst Ratings Changes

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

Wave Life Sciences Stock Performance

Shares of NASDAQ:WVE traded down $0.23 during midday trading on Friday, hitting $6.01. 1,272,663 shares of the stock were exchanged, compared to its average volume of 1,295,470. Wave Life Sciences Ltd. has a 12 month low of $4.25 and a 12 month high of $16.74. The stock has a market capitalization of $926.35 million, a price-to-earnings ratio of -5.41 and a beta of -0.92. The business's 50-day moving average price is $6.71 and its 200 day moving average price is $10.37.

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

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.