Millennium Management LLC Has $14.61 Million Stock Holdings in Wave Life Sciences Ltd. (NASDAQ:WVE)

Millennium Management LLC lifted its holdings in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 38.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,180,838 shares of the company's stock after buying an additional 329,173 shares during the period. Millennium Management LLC owned approximately 0.77% of Wave Life Sciences worth $14,607,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in WVE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Wave Life Sciences by 23.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,392 shares of the company's stock worth $648,000 after purchasing an additional 9,907 shares in the last quarter. Deutsche Bank AG raised its holdings in Wave Life Sciences by 57.6% during the fourth quarter. Deutsche Bank AG now owns 70,466 shares of the company's stock worth $872,000 after purchasing an additional 25,756 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in Wave Life Sciences by 71.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 716,253 shares of the company's stock worth $8,860,000 after purchasing an additional 297,792 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in Wave Life Sciences by 14.6% during the fourth quarter. Driehaus Capital Management LLC now owns 6,712,449 shares of the company's stock worth $83,033,000 after purchasing an additional 853,589 shares in the last quarter. Finally, Crestline Management LP raised its holdings in Wave Life Sciences by 17.1% during the fourth quarter. Crestline Management LP now owns 158,336 shares of the company's stock worth $1,959,000 after purchasing an additional 23,076 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

Wave Life Sciences Price Performance

Wave Life Sciences stock traded up $0.09 during trading hours on Wednesday, hitting $6.03. The company had a trading volume of 77,093 shares, compared to its average volume of 1,286,243. Wave Life Sciences Ltd. has a fifty-two week low of $4.25 and a fifty-two week high of $16.74. The firm's fifty day moving average is $6.86 and its 200-day moving average is $10.47. The firm has a market capitalization of $930.04 million, a P/E ratio of -5.43 and a beta of -0.92.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $9.18 million during the quarter, compared to analyst estimates of $11.65 million. During the same period in the previous year, the company earned ($0.24) earnings per share. Analysts anticipate that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Wave Life Sciences

In other news, CEO Paul Bolno sold 169,025 shares of the stock in a transaction dated Friday, March 7th. The stock was 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 owns 338,351 shares of the company's stock, valued at approximately $3,238,019.07. This represents a 33.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christian O. Henry sold 10,500 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $9.77, for a total value of $102,585.00. Following the completion of the transaction, the director now directly owns 16,115 shares in the company, valued at $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.

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.