Wave Life Sciences Ltd. (NASDAQ:WVE) Holdings Lifted by Millennium Management LLC

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

Several other large investors have also bought and sold shares of the company. Victory Capital Management Inc. boosted its stake 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 in the last quarter. Summit Investment Advisors Inc. boosted its stake in Wave Life Sciences by 31.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company's stock valued at $119,000 after buying an additional 2,308 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in Wave Life Sciences by 36.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 15,579 shares of the company's stock valued at $193,000 after buying an additional 4,120 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Wave Life Sciences by 12.2% during the fourth 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. Finally, Corebridge Financial Inc. lifted its holdings in shares of Wave Life Sciences by 10.7% during the fourth quarter. Corebridge Financial Inc. now owns 45,824 shares of the company's stock valued at $567,000 after purchasing an additional 4,423 shares during the last quarter. Institutional investors own 89.73% of the company's stock.

Wave Life Sciences Trading Up 0.8%

Shares of Wave Life Sciences stock opened at $6.09 on Friday. The stock has a 50-day moving average price of $7.09 and a 200 day moving average price of $10.68. The company has a market cap of $938.68 million, a P/E ratio of -5.49 and a beta of -0.92. Wave Life Sciences Ltd. has a 1 year low of $4.25 and a 1 year high of $16.74.

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. On average, equities analysts forecast that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on WVE shares. HC Wainwright reaffirmed a "buy" rating and set a $22.00 target price on shares of Wave Life Sciences in a report on Wednesday, March 26th. Wedbush started coverage on Wave Life Sciences in a report on Tuesday, April 8th. They set an "outperform" rating and a $18.00 target price for the company. Wall Street Zen downgraded Wave Life Sciences from a "hold" rating to a "sell" rating in a report on Friday, May 9th. Jefferies Financial Group started coverage on Wave Life Sciences in a report on Tuesday, February 25th. They set a "buy" rating and a $26.00 target price for the company. Finally, Cantor Fitzgerald started coverage on Wave Life Sciences in a report on Tuesday, April 29th. They set an "overweight" rating and a $10.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has assigned 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 company has an average rating of "Moderate Buy" and an average target price of $21.17.

Insiders Place Their Bets

In other Wave Life Sciences news, CEO Paul Bolno sold 169,025 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $9.57, for a total value 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 $3,238,019.07. This represents a 33.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christian O. Henry sold 10,500 shares of the company's stock in a transaction dated Thursday, March 20th. The stock was 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 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.

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.

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