Two Sigma Investments LP Acquires 265,437 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

Two Sigma Investments LP lifted its stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 210.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 391,620 shares of the company's stock after acquiring an additional 265,437 shares during the period. Two Sigma Investments LP owned 0.26% of Wave Life Sciences worth $4,844,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Moody Aldrich Partners LLC raised its position in shares of Wave Life Sciences by 31.5% during the fourth quarter. Moody Aldrich Partners LLC now owns 398,475 shares of the company's stock worth $4,929,000 after purchasing an additional 95,413 shares during the period. Arizona State Retirement System increased its stake in Wave Life Sciences by 34.2% during the 4th quarter. Arizona State Retirement System now owns 30,769 shares of the company's stock valued at $381,000 after purchasing an additional 7,846 shares in the last quarter. Corebridge Financial Inc. increased its stake in Wave Life Sciences by 10.7% during the 4th 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 in the last quarter. Vanguard Group Inc. lifted its stake in shares of Wave Life Sciences by 10.2% in the fourth quarter. Vanguard Group Inc. now owns 3,182,512 shares of the company's stock valued at $39,368,000 after buying an additional 294,956 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new position in shares of Wave Life Sciences in the fourth quarter valued at $3,076,000. 89.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on WVE shares. Cantor Fitzgerald initiated coverage on shares of Wave Life Sciences in a research report on Tuesday, April 29th. They set an "overweight" rating and a $10.00 target price for the company. Wedbush initiated coverage on Wave Life Sciences in a report on Tuesday, April 8th. They set an "outperform" rating and a $18.00 price objective for the company. Jefferies Financial Group initiated 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 set a $22.00 target price on shares of Wave Life Sciences in a research report on Wednesday, March 26th. Finally, Wall Street Zen downgraded Wave Life Sciences from a "hold" rating to a "sell" rating in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $21.17.

Wave Life Sciences Price Performance

Shares of Wave Life Sciences stock traded down $0.16 during trading hours on Friday, hitting $6.08. 1,272,679 shares of the company's stock traded hands, compared to its average volume of 1,300,185. Wave Life Sciences Ltd. has a 12-month low of $4.25 and a 12-month high of $16.74. The stock has a market capitalization of $937.13 million, a price-to-earnings ratio of -5.48 and a beta of -0.92. The company has a fifty day simple moving average of $6.64 and a 200-day simple moving average of $10.23.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.02). The company had revenue of $9.18 million for the quarter, compared to analysts' expectations of $11.65 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. During the same quarter last year, the business posted ($0.24) EPS. On average, analysts forecast that Wave Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Insider Transactions at Wave Life Sciences

In other news, Director Christian O. Henry sold 10,500 shares of Wave Life Sciences stock in a transaction dated Thursday, March 20th. The stock was 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 owns 16,115 shares in the company, valued at approximately $157,443.55. This trade represents a 39.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Paul Bolno sold 169,025 shares of the business'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 directly 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 disclosure for this sale can be found here. 29.10% of the stock is currently owned by company insiders.

Wave Life Sciences Company 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.