Wave Life Sciences Ltd. (NASDAQ:WVE) Shares Bought by Northern Trust Corp

Northern Trust Corp raised its stake in Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 20.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 961,751 shares of the company's stock after purchasing an additional 162,386 shares during the quarter. Northern Trust Corp owned 0.63% of Wave Life Sciences worth $11,897,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Wave Life Sciences by 63.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,098,866 shares of the company's stock valued at $63,074,000 after buying an additional 1,972,262 shares during the period. Loomis Sayles & Co. L P acquired a new stake in shares of Wave Life Sciences in the 4th quarter valued at approximately $20,545,000. Vanguard Group Inc. lifted its holdings in shares of Wave Life Sciences by 10.2% in the 4th quarter. Vanguard Group Inc. now owns 3,182,512 shares of the company's stock valued at $39,368,000 after buying an additional 294,956 shares during the period. Emerald Advisers LLC lifted its holdings in shares of Wave Life Sciences by 9.7% in the 4th quarter. Emerald Advisers LLC now owns 3,162,369 shares of the company's stock valued at $39,119,000 after buying an additional 280,859 shares during the period. Finally, Principal Financial Group Inc. acquired a new stake in shares of Wave Life Sciences in the 4th quarter valued at approximately $3,076,000. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wedbush assumed coverage on Wave Life Sciences in a report on Tuesday, April 8th. They set an "outperform" rating and a $18.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and set a $22.00 price objective on shares of Wave Life Sciences in a report on Wednesday, March 26th. Cantor Fitzgerald assumed coverage on Wave Life Sciences in a report on Tuesday, April 29th. They set an "overweight" rating and a $10.00 price objective for the company. Wall Street Zen cut Wave Life Sciences from a "hold" rating to a "sell" rating in a report on Friday, May 9th. Finally, Jefferies Financial Group began coverage on Wave Life Sciences in a report on Tuesday, February 25th. They set a "buy" rating and a $26.00 price objective for the company. 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 company's stock. According to MarketBeat.com, Wave Life Sciences currently has an average rating of "Moderate Buy" and an average price target of $21.17.

Insider Buying and Selling 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 stock was sold at an average price of $9.77, for a total transaction of $102,585.00. Following the transaction, the director now owns 16,115 shares in the company, valued at $157,443.55. The trade was a 39.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Paul Bolno sold 169,025 shares of the business'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 owns 338,351 shares in the company, valued at approximately $3,238,019.07. This represents a 33.31% decrease in their position. The disclosure for this sale can be found here. 29.10% of the stock is owned by company insiders.

Wave Life Sciences Stock Up 0.8%

Shares of NASDAQ:WVE traded up $0.05 during midday trading on Thursday, reaching $6.09. The company's stock had a trading volume of 652,891 shares, compared to its average volume of 1,285,318. The firm has a market cap of $938.68 million, a price-to-earnings ratio of -5.49 and a beta of -0.92. Wave Life Sciences Ltd. has a 1 year low of $4.25 and a 1 year high of $16.74. The business has a 50 day moving average price of $7.09 and a 200 day moving average price of $10.68.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last posted 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). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. The firm had revenue of $9.18 million for the quarter, compared to analysts' expectations of $11.65 million. During the same period last year, the firm posted ($0.24) EPS. Sell-side analysts anticipate that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal 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.