Polar Asset Management Partners Inc. Acquires 71,300 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

Polar Asset Management Partners Inc. lifted its stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 14.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 557,323 shares of the company's stock after buying an additional 71,300 shares during the quarter. Polar Asset Management Partners Inc. owned about 0.37% of Wave Life Sciences worth $6,894,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of WVE. Victory Capital Management Inc. lifted its holdings in shares of Wave Life Sciences by 16.6% in the 4th quarter. Victory Capital Management Inc. now owns 14,546 shares of the company's stock worth $180,000 after purchasing an additional 2,073 shares in the last quarter. Summit Investment Advisors Inc. lifted 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 acquiring an additional 2,308 shares in the last quarter. Kraematon Investment Advisors Inc. lifted 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 acquiring an additional 3,885 shares in the last quarter. Pictet Asset Management Holding SA lifted 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 acquiring an additional 4,120 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Wave Life Sciences by 12.2% during the 4th quarter. Invesco Ltd. now owns 40,010 shares of the company's stock valued at $495,000 after acquiring an additional 4,351 shares in the last quarter. Institutional investors and hedge funds own 89.73% of the company's stock.

Wave Life Sciences Price Performance

Shares of NASDAQ WVE traded down $0.29 during mid-day trading on Wednesday, reaching $6.26. 289,856 shares of the company's stock were exchanged, compared to its average volume of 1,279,895. The firm has a market capitalization of $964.11 million, a price-to-earnings ratio of -5.64 and a beta of -0.92. Wave Life Sciences Ltd. has a 52 week low of $4.25 and a 52 week high of $16.74. The firm has a 50-day moving average price of $7.26 and a two-hundred day moving average price of $10.77.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $9.18 million during the quarter, compared to analysts' expectations of $11.65 million. During the same period last year, the business posted ($0.24) EPS. As a group, sell-side analysts forecast that Wave Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WVE has been the topic of several recent analyst reports. 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 on the stock. 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. HC Wainwright restated a "buy" rating and set a $22.00 price objective on shares of Wave Life Sciences in a research note on Wednesday, March 26th. StockNews.com cut Wave Life Sciences from a "hold" rating to a "sell" rating in a research note on Friday, May 9th. Finally, Jefferies Financial Group initiated coverage on Wave Life Sciences in a research note on Tuesday, February 25th. They set a "buy" rating and a $26.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Wave Life Sciences presently has an average rating of "Moderate Buy" and a consensus price target of $21.17.

Insider Buying and Selling

In related 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 value of $102,585.00. Following the completion of the sale, the director now owns 16,115 shares of the company's stock, 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 hyperlink. Also, CEO Paul Bolno sold 169,025 shares of Wave Life Sciences 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 completion of the sale, the chief executive officer now directly owns 338,351 shares of the company's stock, 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 currently 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.