Voya Investment Management LLC Raises Position in Wave Life Sciences Ltd. (NASDAQ:WVE)

Voya Investment Management LLC boosted its position in Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 198.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,160 shares of the company's stock after buying an additional 51,281 shares during the period. Voya Investment Management LLC owned approximately 0.05% of Wave Life Sciences worth $954,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in WVE. Price T Rowe Associates Inc. MD increased its holdings in Wave Life Sciences by 63.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,098,866 shares of the company's stock worth $63,074,000 after purchasing an additional 1,972,262 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in Wave Life Sciences during the fourth quarter worth $299,000. MetLife Investment Management LLC raised its position in Wave Life Sciences by 28.3% in the 4th quarter. MetLife Investment Management LLC now owns 55,941 shares of the company's stock valued at $692,000 after buying an additional 12,340 shares during the last quarter. Marshall Wace LLP lifted its stake in Wave Life Sciences by 43.0% during the 4th quarter. Marshall Wace LLP now owns 183,875 shares of the company's stock valued at $2,275,000 after acquiring an additional 55,325 shares in the last quarter. Finally, EAM Investors LLC purchased a new position in Wave Life Sciences during the 4th quarter worth $2,656,000. 89.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Wave Life Sciences Stock Performance

WVE stock traded up $0.05 during midday trading on Friday, reaching $6.59. 1,547,228 shares of the company's stock traded hands, compared to its average volume of 1,269,035. Wave Life Sciences Ltd. has a 52 week low of $4.25 and a 52 week high of $16.74. The firm has a market capitalization of $1.02 billion, a PE ratio of -5.94 and a beta of -0.92. The company has a 50-day moving average price of $7.87 and a two-hundred day moving average price of $11.24.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.02). The firm had revenue of $9.18 million during the quarter, compared to analysts' expectations of $11.65 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. During the same period in the previous year, the company posted ($0.24) earnings per share. As a group, analysts predict that Wave Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Insider Buying and Selling at Wave Life Sciences

In other news, CEO Paul Bolno sold 169,025 shares of the firm's stock in a transaction 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christian O. Henry sold 10,500 shares of the company's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $9.77, for a total transaction of $102,585.00. Following the completion of the transaction, the director now owns 16,115 shares of the company's stock, 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. Insiders own 29.10% of the company's stock.

Wave Life Sciences 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.