MPM Bioimpact LLC Increases Position in Wave Life Sciences Ltd. (NASDAQ:WVE)

MPM Bioimpact LLC increased its holdings in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 138.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,489,237 shares of the company's stock after purchasing an additional 864,766 shares during the period. Wave Life Sciences makes up 2.6% of MPM Bioimpact LLC's portfolio, making the stock its 13th biggest position. MPM Bioimpact LLC owned approximately 0.98% of Wave Life Sciences worth $18,422,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Quarry LP acquired a new stake in Wave Life Sciences in the 4th quarter valued at approximately $62,000. KBC Group NV acquired a new position in shares of Wave Life Sciences during the 4th quarter worth approximately $67,000. Summit Investment Advisors Inc. increased its holdings in shares of Wave Life Sciences by 31.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company's stock worth $119,000 after acquiring an additional 2,308 shares during the last quarter. Westwood Wealth Management bought a new stake in Wave Life Sciences in the 4th quarter valued at $124,000. Finally, Ameriprise Financial Inc. bought a new stake in Wave Life Sciences in the 4th quarter valued at $129,000. Institutional investors own 89.73% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on WVE shares. StockNews.com downgraded Wave Life Sciences from a "hold" rating to a "sell" rating in a research report on Friday, May 9th. Jefferies Financial Group started coverage on Wave Life Sciences in a research report on Tuesday, February 25th. They issued a "buy" rating and a $26.00 target price for the company. HC Wainwright reiterated a "buy" rating and issued a $22.00 target price on shares of Wave Life Sciences in a research report on Wednesday, March 26th. Cantor Fitzgerald assumed coverage on Wave Life Sciences in a report on Tuesday, April 29th. They issued an "overweight" rating and a $10.00 target price on the stock. Finally, Wedbush began coverage on Wave Life Sciences in a research report on Tuesday, April 8th. They issued an "outperform" rating and a $18.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wave Life Sciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.17.

Wave Life Sciences Stock Performance

Wave Life Sciences stock traded up $0.02 during mid-day trading on Monday, reaching $6.35. The stock had a trading volume of 355,658 shares, compared to its average volume of 1,281,444. Wave Life Sciences Ltd. has a fifty-two week low of $4.25 and a fifty-two week high of $16.74. The stock's 50-day simple moving average is $7.42 and its 200-day simple moving average is $10.85. The firm has a market capitalization of $977.98 million, a PE ratio of -5.73 and a beta of -0.92.

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 for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.02). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. The company had revenue of $9.18 million during the quarter, compared to the consensus estimate of $11.65 million. During the same quarter in the prior year, the business earned ($0.24) EPS. On average, research analysts forecast that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

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 in the company, 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 through 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 owns 16,115 shares in the company, 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.