The Manufacturers Life Insurance Company Grows Stock Holdings in Wave Life Sciences Ltd. (NASDAQ:WVE)

The Manufacturers Life Insurance Company increased its holdings in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 23.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 207,687 shares of the company's stock after purchasing an additional 39,546 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.14% of Wave Life Sciences worth $2,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in Wave Life Sciences by 171.1% in the 3rd quarter. Barclays PLC now owns 159,241 shares of the company's stock valued at $1,307,000 after purchasing an additional 100,498 shares during the last quarter. Kraematon Investment Advisors Inc. increased its position in shares of Wave Life Sciences by 24.3% in the 4th quarter. Kraematon Investment Advisors Inc. now owns 19,885 shares of the company's stock valued at $246,000 after purchasing an additional 3,885 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Wave Life Sciences by 46.1% in the 4th quarter. SG Americas Securities LLC now owns 53,419 shares of the company's stock valued at $661,000 after purchasing an additional 16,856 shares during the last quarter. KBC Group NV purchased a new position in shares of Wave Life Sciences in the 4th quarter valued at $67,000. Finally, Moody Aldrich Partners LLC grew its position in shares of Wave Life Sciences by 31.5% in the 4th quarter. Moody Aldrich Partners LLC now owns 398,475 shares of the company's stock valued at $4,929,000 after buying an additional 95,413 shares during the last quarter. Hedge funds and other institutional investors own 89.73% of the company's stock.

Wave Life Sciences Trading Down 0.3%

Shares of NASDAQ WVE traded down $0.02 during midday trading on Friday, reaching $6.28. 317,181 shares of the stock were exchanged, compared to its average volume of 1,277,543. The company has a market capitalization of $968.30 million, a P/E ratio of -5.66 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 stock has a 50 day moving average price of $7.50 and a 200-day moving average price of $10.95.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.02). The firm had revenue of $9.18 million for 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 quarter last year, the firm earned ($0.24) earnings per share. On average, analysts forecast that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current year.

Insider Transactions at Wave Life Sciences

In related news, Director Christian O. Henry sold 10,500 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $9.77, for a total value of $102,585.00. Following the sale, the director now directly owns 16,115 shares of the company's stock, valued at approximately $157,443.55. This trade represents a 39.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paul Bolno sold 169,025 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the completion of the sale, the chief executive officer now directly owns 338,351 shares in the company, valued at $3,238,019.07. This represents a 33.31% 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.

Analyst Ratings Changes

WVE has been the subject of several recent analyst reports. StockNews.com cut shares of Wave Life Sciences from a "hold" rating to a "sell" rating in a research note on Friday, May 9th. HC Wainwright restated a "buy" rating and issued a $22.00 target price on shares of Wave Life Sciences in a research note on Wednesday, March 26th. Cantor Fitzgerald began coverage on shares of Wave Life Sciences in a research note on Tuesday, April 29th. They issued an "overweight" rating and a $10.00 target price for the company. Jefferies Financial Group began coverage on shares of Wave Life Sciences in a research note on Tuesday, February 25th. They issued a "buy" rating and a $26.00 price objective for the company. Finally, Wedbush began coverage on shares of Wave Life Sciences in a research note on Tuesday, April 8th. They issued an "outperform" rating and a $18.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $21.17.

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.