MPM Bioimpact LLC Boosts Stake in Wave Life Sciences Ltd. (NASDAQ:WVE)

MPM Bioimpact LLC lifted its position in Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 138.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,489,237 shares of the company's stock after acquiring an additional 864,766 shares during the period. Wave Life Sciences accounts for about 2.6% of MPM Bioimpact LLC's investment portfolio, making the stock its 13th largest holding. MPM Bioimpact LLC owned about 0.98% of Wave Life Sciences worth $18,422,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in Wave Life Sciences by 16.6% during the 4th 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 4th 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 last quarter. Kraematon Investment Advisors Inc. boosted its stake in Wave Life Sciences by 24.3% during the 4th quarter. Kraematon Investment Advisors Inc. now owns 19,885 shares of the company's stock valued at $246,000 after purchasing an additional 3,885 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in Wave Life Sciences by 36.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 15,579 shares of the company's stock valued at $193,000 after purchasing an additional 4,120 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Wave Life Sciences by 12.2% in the 4th quarter. Invesco Ltd. now owns 40,010 shares of the company's stock worth $495,000 after buying an additional 4,351 shares during the last quarter. Institutional investors own 89.73% of the company's stock.

Wave Life Sciences Trading Up 0.5%

Shares of NASDAQ WVE traded up $0.03 during midday trading on Friday, hitting $6.33. The company's stock had a trading volume of 1,306,010 shares, compared to its average volume of 1,284,317. The business's 50 day moving average is $7.42 and its two-hundred day moving average is $10.87. Wave Life Sciences Ltd. has a 12-month low of $4.25 and a 12-month high of $16.74. The firm has a market cap of $975.67 million, a P/E ratio of -5.70 and a beta of -0.92.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last issued its quarterly 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 business had revenue of $9.18 million during the quarter, compared to analysts' expectations of $11.65 million. During the same quarter in the previous year, the company posted ($0.24) earnings per share. On average, analysts predict that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WVE has been the topic of a number of recent research reports. Jefferies Financial Group started coverage on Wave Life Sciences in a report on Tuesday, February 25th. They issued a "buy" rating and a $26.00 target price on the stock. Wedbush began 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. StockNews.com cut Wave Life Sciences from a "hold" rating to a "sell" rating in a report on Friday, May 9th. HC Wainwright reaffirmed a "buy" rating and issued a $22.00 target price on shares of Wave Life Sciences in a report on Wednesday, March 26th. Finally, Cantor Fitzgerald initiated coverage on Wave Life Sciences in a research note on Tuesday, April 29th. They set an "overweight" rating and a $10.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $21.17.

Insider Buying and Selling

In related news, Director Christian O. Henry sold 10,500 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul Bolno sold 169,025 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 338,351 shares in the company, valued at approximately $3,238,019.07. This trade represents a 33.31% decrease in their position. The disclosure for this sale can be found here. 29.10% of the stock is owned by 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.