Martingale Asset Management L P Buys 22,652 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

Martingale Asset Management L P raised its stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 25.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,199 shares of the company’s stock after purchasing an additional 22,652 shares during the quarter. Martingale Asset Management L P owned 0.09% of Wave Life Sciences worth $912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Wave Life Sciences by 39.7% during the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock valued at $11,316,000 after buying an additional 521,665 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Wave Life Sciences in the 2nd quarter worth approximately $668,000. James J. Burns & Company LLC purchased a new stake in shares of Wave Life Sciences in the 2nd quarter valued at $449,000. Bank of New York Mellon Corp grew its holdings in shares of Wave Life Sciences by 13.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 225,402 shares of the company’s stock valued at $1,125,000 after purchasing an additional 27,524 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Wave Life Sciences by 75.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,491 shares of the company’s stock worth $167,000 after purchasing an additional 14,371 shares during the period. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Insider Transactions at Wave Life Sciences

In other Wave Life Sciences news, major shareholder Plc Gsk bought 2,791,930 shares of the stock in a transaction dated Friday, September 27th. The stock was purchased at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the acquisition, the insider now owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This trade represents a 19.97 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Chris Francis sold 208,836 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $13.67, for a total value of $2,854,788.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 453,690 shares of company stock valued at $6,425,883. Corporate insiders own 29.10% of the company’s stock.

Analysts Set New Price Targets

WVE has been the subject of several analyst reports. HC Wainwright restated a “buy” rating and set a $22.00 price target on shares of Wave Life Sciences in a research report on Wednesday, November 13th. JPMorgan Chase & Co. raised their price target on Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. StockNews.com cut Wave Life Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th. Truist Financial increased their price objective on Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Leerink Partners lifted their target price on shares of Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Wave Life Sciences currently has an average rating of “Moderate Buy” and an average target price of $22.22.

Wave Life Sciences Trading Up 1.1 %

NASDAQ:WVE opened at $15.27 on Tuesday. Wave Life Sciences Ltd. has a 12 month low of $3.50 and a 12 month high of $16.74. The company has a 50-day moving average price of $12.69 and a 200-day moving average price of $8.23. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of -13.76 and a beta of -1.21.

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.