Marshall Wace LLP Acquires 55,325 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

Marshall Wace LLP increased its position in Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 43.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 183,875 shares of the company's stock after purchasing an additional 55,325 shares during the quarter. Marshall Wace LLP owned approximately 0.12% of Wave Life Sciences worth $2,275,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. KBC Group NV bought a new position in Wave Life Sciences in the fourth quarter worth $67,000. Summit Investment Advisors Inc. grew its position in shares of Wave Life Sciences by 31.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company's stock worth $119,000 after buying an additional 2,308 shares during the period. Westwood Wealth Management bought a new position in shares of Wave Life Sciences in the 4th quarter worth about $124,000. Raymond James Financial Inc. purchased a new position in Wave Life Sciences during the 4th quarter valued at about $157,000. Finally, 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 worth $180,000 after acquiring an additional 2,073 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WVE shares. 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. Wedbush initiated coverage on Wave Life Sciences in a research note on Tuesday, April 8th. They set an "outperform" rating and a $18.00 price objective for the company. StockNews.com raised Wave Life Sciences from a "sell" rating to a "hold" rating in a research note on Saturday, March 8th. Cantor Fitzgerald assumed coverage on Wave Life Sciences in a report on Tuesday. They set an "overweight" rating and a $10.00 price target for the company. Finally, HC Wainwright reiterated a "buy" rating and issued a $22.00 price target on shares of Wave Life Sciences in a research note on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.17.

Wave Life Sciences Stock Performance

Shares of WVE stock traded up $0.18 during mid-day trading on Friday, reaching $8.12. 897,222 shares of the company's stock traded hands, compared to its average volume of 1,228,594. The firm has a market capitalization of $1.25 billion, a PE ratio of -7.33 and a beta of -0.93. Wave Life Sciences Ltd. has a 12 month low of $4.25 and a 12 month high of $16.74. The firm has a 50 day moving average price of $8.21 and a two-hundred day moving average price of $11.47.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.34. The business had revenue of $83.75 million for the quarter, compared to the consensus estimate of $25.60 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. As a group, equities analysts expect that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Insider Transactions at Wave Life Sciences

In other news, 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 sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christian O. Henry sold 10,500 shares of the 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 transaction, the director now owns 16,115 shares of the company's stock, valued at $157,443.55. This represents 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 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.