WAVE Life Sciences Ltd. $WVE Shares Sold by Siren L.L.C.

Key Points

• Siren L.L.C. reduced its holdings in WAVE Life Sciences by 1.4%, owning 3,696,322 shares after selling 54,169 shares in the first quarter.
• The stock's current market cap is $1.58 billion, with a fifty-two week low of $5.04 and high of $16.74.
• Insider activity includes the sale of 10,000 shares by Director Gregory L. Verdine, representing a 3.39% decrease in his ownership of the company.

Siren L.L.C. reduced its holdings in WAVE Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 1.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,696,322 shares of the company's stock after selling 54,169 shares during the quarter. WAVE Life Sciences makes up 1.7% of Siren L.L.C.'s portfolio, making the stock its 17th biggest position. Siren L.L.C. owned approximately 2.40% of WAVE Life Sciences worth $29,866,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of WVE. Wells Fargo & Company MN lifted its position in shares of WAVE Life Sciences by 84.8% in the 4th quarter. Wells Fargo & Company MN now owns 49,856 shares of the company's stock worth $617,000 after buying an additional 22,873 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in WAVE Life Sciences by 64.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 32,331 shares of the company's stock valued at $400,000 after purchasing an additional 12,724 shares during the last quarter. Invesco Ltd. lifted its position in WAVE Life Sciences by 12.2% in the 4th quarter. Invesco Ltd. now owns 40,010 shares of the company's stock valued at $495,000 after purchasing an additional 4,351 shares during the last quarter. Raymond James Financial Inc. bought a new stake in WAVE Life Sciences in the 4th quarter valued at about $157,000. Finally, Barclays PLC lifted its position in WAVE Life Sciences by 22.8% in the 4th quarter. Barclays PLC now owns 195,553 shares of the company's stock valued at $2,418,000 after purchasing an additional 36,312 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WVE has been the topic of several recent research reports. Canaccord Genuity Group initiated coverage on shares of WAVE Life Sciences in a research report on Monday, August 4th. They issued a "buy" rating and a $19.00 price objective on the stock. Wells Fargo & Company cut their price objective 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. Raymond James Financial initiated coverage on shares of WAVE Life Sciences in a research report on Wednesday, June 11th. They issued an "outperform" rating and a $14.00 price objective on the stock. Wedbush reiterated an "outperform" rating and issued a $18.00 price objective on shares of WAVE Life Sciences in a research report on Monday, June 23rd. Finally, Wall Street Zen downgraded shares of WAVE Life Sciences from a "hold" rating to a "sell" rating in a research report on Friday, May 9th. Fourteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $20.27.

WAVE Life Sciences Stock Down 3.3%

WAVE Life Sciences stock traded down $0.33 during trading hours on Friday, hitting $9.60. 1,230,899 shares of the company traded hands, compared to its average volume of 1,632,976. The firm has a market cap of $1.53 billion, a P/E ratio of -10.67 and a beta of -1.16. The firm's 50-day simple moving average is $8.24 and its two-hundred day simple moving average is $7.95. 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 earnings results 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 research analysts predict that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current year.

Insider Activity at WAVE Life Sciences

In other WAVE Life Sciences news, Director Gregory L. Verdine sold 30,000 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $6.95, for a total transaction of $208,500.00. Following the transaction, the director owned 282,517 shares of the company's stock, valued at approximately $1,963,493.15. This trade represents a 9.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ken Takanashi sold 4,872 shares of WAVE Life Sciences stock in a transaction that occurred on 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 represents a 0.09% 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. Corporate insiders own 23.98% of the company's stock.

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.