Wave Life Sciences Ltd. (NASDAQ:WVE) Shares Sold by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. lowered its stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 32.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 311,992 shares of the company’s stock after selling 149,675 shares during the period. Platinum Investment Management Ltd.’s holdings in Wave Life Sciences were worth $3,859,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WVE. GSA Capital Partners LLP increased its stake in Wave Life Sciences by 14.9% in the third quarter. GSA Capital Partners LLP now owns 63,513 shares of the company’s stock valued at $521,000 after purchasing an additional 8,255 shares during the period. Intech Investment Management LLC acquired a new position in Wave Life Sciences during the third quarter worth approximately $194,000. Charles Schwab Investment Management Inc. increased its position in Wave Life Sciences by 209.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 844,617 shares of the company’s stock worth $6,926,000 after purchasing an additional 571,345 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Wave Life Sciences by 20.3% in the third quarter. The Manufacturers Life Insurance Company now owns 168,141 shares of the company’s stock worth $1,379,000 after acquiring an additional 28,351 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Wave Life Sciences by 174.5% in the third quarter. FMR LLC now owns 1,540,190 shares of the company’s stock valued at $12,630,000 after purchasing an additional 979,110 shares during the period. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Insider Buying and Selling

In other Wave Life Sciences news, CEO Paul Bolno sold 169,025 shares of Wave Life Sciences 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 $3,238,019.07. The trade was a 33.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 29.10% of the stock is currently owned by insiders.

Wave Life Sciences Stock Down 3.7 %

NASDAQ:WVE opened at $9.79 on Wednesday. Wave Life Sciences Ltd. has a 12 month low of $4.25 and a 12 month high of $16.74. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -8.82 and a beta of -1.04. The company’s 50 day moving average is $11.06 and its 200-day moving average is $11.50.

Wave Life Sciences (NASDAQ:WVE) last announced its earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $25.60 million. Research analysts predict that Wave Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on WVE shares. HC Wainwright reiterated a “buy” rating and set a $22.00 price objective on shares of Wave Life Sciences in a research note on Wednesday, March 5th. StockNews.com raised shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. Mizuho increased their price objective on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Jefferies Financial Group began coverage on shares of Wave Life Sciences in a research note on Tuesday, February 25th. They set a “buy” rating and a $26.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wave Life Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $22.60.

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.