Trexquant Investment LP Trims Position in WAVE Life Sciences Ltd. $WVE

Key Points

• Trexquant Investment LP has reduced its stake in WAVE Life Sciences by 49.1%, selling 215,940 shares during the first quarter, now holding approximately 223,412 shares.
• Multiple institutional investors have recently acquired new stakes in WAVE Life Sciences, contributing to the company's 89.73% ownership by institutional investors.
• WAVE Life Sciences shares have fluctuated between a 12-month low of $5.04 and a high of $16.74, with a current market cap of $1.30 billion.

Trexquant Investment LP trimmed its position in WAVE Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 49.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,412 shares of the company's stock after selling 215,940 shares during the quarter. Trexquant Investment LP owned 0.14% of WAVE Life Sciences worth $1,805,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of WVE. Raymond James Financial Inc. acquired a new stake in shares of WAVE Life Sciences in the fourth quarter valued at about $157,000. The Manufacturers Life Insurance Company raised its stake in shares of WAVE Life Sciences by 23.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 207,687 shares of the company's stock valued at $2,569,000 after buying an additional 39,546 shares during the period. Northern Trust Corp raised its stake in shares of WAVE Life Sciences by 20.3% in the fourth quarter. Northern Trust Corp now owns 961,751 shares of the company's stock valued at $11,897,000 after buying an additional 162,386 shares during the period. Algert Global LLC bought a new stake in shares of WAVE Life Sciences during the 4th quarter valued at $527,000. Finally, Ameriprise Financial Inc. purchased a new position in WAVE Life Sciences during the fourth quarter worth about $129,000. 89.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at WAVE Life Sciences

In other news, Director Ken Takanashi sold 4,872 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $8.75, for a total transaction of $42,630.00. Following the completion of the sale, the director owned 5,716,303 shares in the company, valued at $50,017,651.25. This trade represents a 0.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory L. Verdine sold 10,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $10.00, for a total transaction of $100,000.00. Following the transaction, the director directly owned 285,217 shares of the company's stock, valued at $2,852,170. The trade was a 3.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 271,893 shares of company stock worth $2,631,568 in the last quarter. Insiders own 23.98% of the company's stock.

WAVE Life Sciences Price Performance

NASDAQ:WVE traded down $0.09 during mid-day trading on Wednesday, hitting $7.39. The company's stock had a trading volume of 2,312,122 shares, compared to its average volume of 2,250,136. The business's fifty day moving average is $8.48 and its two-hundred day moving average is $7.84. WAVE Life Sciences Ltd. has a 1 year low of $5.28 and a 1 year high of $16.74. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -8.21 and a beta of -1.15.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported ($0.31) earnings per share for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.02). The company had revenue of $8.70 million for the quarter, compared to analysts' expectations of $11.52 million. Analysts anticipate that WAVE Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WVE. Canaccord Genuity Group began coverage on WAVE Life Sciences in a research note on Monday, August 4th. They issued a "buy" rating and a $19.00 target price for the company. Citigroup assumed coverage on WAVE Life Sciences in a research note on Wednesday, July 16th. They issued a "buy" rating and a $16.00 price target on the stock. Oppenheimer initiated coverage on WAVE Life Sciences in a report on Monday, July 28th. They issued an "outperform" rating and a $24.00 target price on the stock. Wells Fargo & Company decreased their price target on WAVE Life Sciences from $21.00 to $18.00 and set an "overweight" rating on the stock in a report on Thursday, September 4th. Finally, B. Riley restated a "buy" rating on shares of WAVE Life Sciences in a research report on Thursday, September 4th. Fourteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, WAVE Life Sciences currently has an average rating of "Moderate Buy" and an average price target of $20.33.

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.