WAVE Life Sciences Ltd. (NASDAQ:WVE) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 23.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 308,044 shares of the company's stock after buying an additional 59,399 shares during the quarter. Principal Financial Group Inc. owned 0.20% of WAVE Life Sciences worth $2,489,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in WAVE Life Sciences by 8.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 914,469 shares of the company's stock valued at $11,312,000 after acquiring an additional 69,852 shares during the period. Victory Capital Management Inc. boosted its position in WAVE Life Sciences by 16.6% during the fourth quarter. Victory Capital Management Inc. now owns 14,546 shares of the company's stock valued at $180,000 after buying an additional 2,073 shares during the period. Raymond James Financial Inc. bought a new stake in shares of WAVE Life Sciences in the fourth quarter worth about $157,000. Swiss National Bank grew its stake in shares of WAVE Life Sciences by 33.4% in the fourth quarter. Swiss National Bank now owns 208,800 shares of the company's stock worth $2,583,000 after purchasing an additional 52,300 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its position in WAVE Life Sciences by 57.6% during the 4th quarter. Teacher Retirement System of Texas now owns 31,473 shares of the company's stock valued at $389,000 after acquiring an additional 11,507 shares in the last quarter. Institutional investors own 89.73% of the company's stock.

Insider Transactions at WAVE Life Sciences

In other WAVE Life Sciences news, Director Gregory L. Verdine sold 30,000 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $6.95, for a total value of $208,500.00. Following the completion of the transaction, the director owned 282,517 shares in the company, valued at approximately $1,963,493.15. This represents a 9.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 23.98% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

WVE has been the subject of a number of recent analyst reports. Citigroup initiated coverage on shares of WAVE Life Sciences in a report on Wednesday. They issued a "buy" rating and a $16.00 price objective for the company. 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. Cantor Fitzgerald initiated coverage on shares of WAVE Life Sciences in a research note on Tuesday, April 29th. They set an "overweight" rating and a $10.00 target price for the company. Raymond James Financial initiated coverage on shares of WAVE Life Sciences in a research note on Wednesday, June 11th. They set an "outperform" rating and a $14.00 target price for the company. Finally, HC Wainwright reiterated a "buy" rating and set a $22.00 target price on shares of WAVE Life Sciences in a research note on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $20.15.

WAVE Life Sciences Stock Up 4.1%

WVE stock traded up $0.33 during trading on Friday, hitting $8.34. 2,461,353 shares of the company's stock traded hands, compared to its average volume of 1,333,813. The firm has a market capitalization of $1.30 billion, a P/E ratio of -9.93 and a beta of -1.01. The business has a fifty day simple moving average of $6.83 and a two-hundred day simple moving average of $8.57. WAVE Life Sciences Ltd. has a 1 year low of $5.04 and a 1 year high of $16.74.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The business had revenue of $9.18 million for the quarter, compared to analyst estimates of $11.65 million. During the same quarter in the prior year, the company earned ($0.24) earnings per share. On average, equities research analysts predict that WAVE Life Sciences Ltd. will post -1.14 EPS 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.