Price T Rowe Associates Inc. MD Acquires 1,972,262 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

Price T Rowe Associates Inc. MD grew its stake in Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 63.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,098,866 shares of the company's stock after buying an additional 1,972,262 shares during the period. Price T Rowe Associates Inc. MD owned approximately 3.34% of Wave Life Sciences worth $63,074,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. KBC Group NV bought a new stake in Wave Life Sciences in the 4th quarter worth approximately $67,000. Summit Investment Advisors Inc. lifted its holdings 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 acquiring an additional 2,308 shares during the last quarter. Westwood Wealth Management purchased a new stake in shares of Wave Life Sciences in the 4th quarter valued at $124,000. Raymond James Financial Inc. purchased a new stake in shares of Wave Life Sciences in the 4th quarter valued at $157,000. Finally, Victory Capital Management Inc. grew its holdings in shares of 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 purchasing an additional 2,073 shares during the last quarter. Institutional investors own 89.73% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Cantor Fitzgerald began coverage on shares of Wave Life Sciences in a research report on Tuesday, April 29th. They set an "overweight" rating and a $10.00 price target for the company. Wedbush started coverage on Wave Life Sciences in a research report on Tuesday, April 8th. They set an "outperform" rating and a $18.00 price target on the stock. Jefferies Financial Group assumed coverage on Wave Life Sciences in a research note on Tuesday, February 25th. They issued a "buy" rating and a $26.00 price target on the stock. HC Wainwright reissued a "buy" rating and set a $22.00 price objective on shares of Wave Life Sciences in a research note on Wednesday, March 26th. Finally, StockNews.com raised shares of Wave Life Sciences from a "sell" rating to a "hold" rating in a research note on Saturday, March 8th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $21.17.

Insider Activity

In other news, 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 transaction, the chief executive officer now owns 338,351 shares of the company's stock, valued at $3,238,019.07. The trade was a 33.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christian O. Henry sold 10,500 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $9.77, for a total transaction of $102,585.00. Following the sale, the director now directly owns 16,115 shares in the company, valued at $157,443.55. This trade represents a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.10% of the stock is currently owned by company insiders.

Wave Life Sciences Stock Up 2.0 %

Shares of NASDAQ:WVE traded up $0.16 on Friday, hitting $8.10. The company had a trading volume of 3,725,765 shares, compared to its average volume of 1,241,252. Wave Life Sciences Ltd. has a 1 year low of $4.25 and a 1 year high of $16.74. The firm's 50-day simple moving average is $8.16 and its two-hundred day simple moving average is $11.42. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -7.30 and a beta of -0.91.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last issued its quarterly earnings data on Tuesday, March 4th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.34. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. The business had revenue of $83.75 million during the quarter, compared to analyst estimates of $25.60 million. Equities research analysts anticipate that Wave Life Sciences Ltd. will post -1.14 EPS for the current year.

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.