Wave Life Sciences Ltd. (NASDAQ:WVE) Shares Acquired by Two Sigma Investments LP

Two Sigma Investments LP increased its stake in Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 210.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 391,620 shares of the company's stock after buying an additional 265,437 shares during the quarter. Two Sigma Investments LP owned about 0.26% of Wave Life Sciences worth $4,844,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Quarry LP bought a new stake in Wave Life Sciences during the 4th quarter valued at about $62,000. KBC Group NV bought a new stake in shares of Wave Life Sciences during the fourth quarter valued at approximately $67,000. Summit Investment Advisors Inc. boosted its holdings in shares of Wave Life Sciences by 31.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company's stock valued at $119,000 after purchasing an additional 2,308 shares during the period. Westwood Wealth Management bought a new position in Wave Life Sciences in the fourth quarter worth approximately $124,000. Finally, Ameriprise Financial Inc. bought a new stake in Wave Life Sciences during the 4th quarter valued at $129,000. 89.73% of the stock is owned by hedge funds and other institutional investors.

Wave Life Sciences Stock Down 2.6%

Shares of Wave Life Sciences stock traded down $0.16 during mid-day trading on Friday, hitting $6.08. The stock had a trading volume of 1,272,679 shares, compared to its average volume of 1,295,470. The firm has a 50-day moving average of $6.71 and a two-hundred day moving average of $10.37. The firm has a market cap of $937.13 million, a P/E ratio of -5.48 and a beta of -0.92. Wave Life Sciences Ltd. has a 12-month low of $4.25 and a 12-month high of $16.74.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last posted its 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). Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. The business had revenue of $9.18 million for the quarter, compared to analyst estimates of $11.65 million. During the same period last year, the business earned ($0.24) EPS. Sell-side analysts expect that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current year.

Insider Buying and Selling

In other Wave Life Sciences news, Director Christian O. Henry sold 10,500 shares of Wave Life Sciences stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $9.77, for a total transaction of $102,585.00. Following the completion of the sale, the director now directly owns 16,115 shares in the company, valued at $157,443.55. This trade represents a 39.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paul Bolno sold 169,025 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 338,351 shares in the company, valued at approximately $3,238,019.07. This represents a 33.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 29.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WVE. Wall Street Zen downgraded shares of Wave Life Sciences from a "hold" rating to a "sell" rating in a research note on Friday, May 9th. Jefferies Financial Group assumed coverage on Wave Life Sciences in a research note on Tuesday, February 25th. They issued a "buy" rating and a $26.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and issued a $22.00 price target on shares of Wave Life Sciences in a report on Wednesday, March 26th. Wedbush assumed coverage on shares of Wave Life Sciences in a report on Tuesday, April 8th. They set an "outperform" rating and a $18.00 target price for the company. Finally, Cantor Fitzgerald began coverage on shares of Wave Life Sciences in a report on Tuesday, April 29th. They set an "overweight" rating and a $10.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Wave Life Sciences currently has a consensus rating of "Moderate Buy" and an average price target of $21.17.

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.