Renaissance Technologies LLC Sells 63,000 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

Renaissance Technologies LLC lowered its holdings in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 60.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,520 shares of the company's stock after selling 63,000 shares during the quarter. Renaissance Technologies LLC's holdings in Wave Life Sciences were worth $514,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Victory Capital Management Inc. boosted 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 worth $180,000 after buying an additional 2,073 shares during the period. Kraematon Investment Advisors Inc. boosted its holdings in Wave Life Sciences by 24.3% during the fourth 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 during the period. Pictet Asset Management Holding SA grew its position in shares of Wave Life Sciences by 36.0% in the fourth 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. Invesco Ltd. increased its stake in shares of Wave Life Sciences by 12.2% in the fourth quarter. Invesco Ltd. now owns 40,010 shares of the company's stock worth $495,000 after purchasing an additional 4,351 shares during the period. Finally, Corebridge Financial Inc. lifted its position in shares of Wave Life Sciences by 10.7% during the 4th quarter. Corebridge Financial Inc. now owns 45,824 shares of the company's stock worth $567,000 after purchasing an additional 4,423 shares during the last quarter. Institutional investors and hedge funds own 89.73% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wedbush initiated 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. Cantor Fitzgerald initiated coverage on shares of Wave Life Sciences in a report on Tuesday, April 29th. They set an "overweight" rating and a $10.00 price objective on the stock. HC Wainwright reissued a "buy" rating and set a $22.00 target price on shares of Wave Life Sciences in a research report on Wednesday, March 26th. Jefferies Financial Group initiated coverage on Wave Life Sciences in a report on Tuesday, February 25th. They issued a "buy" rating and a $26.00 price target for the company. Finally, StockNews.com upgraded Wave Life Sciences from a "sell" rating to a "hold" rating in a research report on Saturday, March 8th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Wave Life Sciences has an average rating of "Moderate Buy" and an average target price of $21.17.

Insider Activity at Wave Life Sciences

In other Wave Life Sciences news, Director Christian O. Henry sold 10,500 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were 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 directly owns 16,115 shares of the company's stock, valued at approximately $157,443.55. The trade was a 39.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Paul Bolno sold 169,025 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were 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 in the company, valued at $3,238,019.07. This trade represents a 33.31 % 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 Performance

Wave Life Sciences stock traded up $0.11 during trading hours on Wednesday, hitting $6.52. 1,833,489 shares of the stock were exchanged, compared to its average volume of 1,257,633. The stock has a market capitalization of $1.00 billion, a P/E ratio of -5.87 and a beta of -0.91. The business's 50-day moving average is $8.02 and its two-hundred day moving average is $11.33. Wave Life Sciences Ltd. has a 12 month low of $4.25 and a 12 month high of $16.74.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.34. 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 $83.75 million for the quarter, compared to analyst estimates of $25.60 million. On average, equities analysts predict that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

About Wave Life Sciences

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.