Millennium Management LLC Purchases 28,690 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

Millennium Management LLC grew its position in Wave Life Sciences Ltd. (NASDAQ:WVE) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,664,300 shares of the company’s stock after purchasing an additional 28,690 shares during the quarter. Millennium Management LLC owned approximately 1.33% of Wave Life Sciences worth $8,305,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Ameritas Investment Partners Inc. boosted its position in Wave Life Sciences by 50.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after acquiring an additional 2,451 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Wave Life Sciences by 3.4% in the 2nd quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock valued at $628,000 after purchasing an additional 4,092 shares during the period. Swiss National Bank boosted its position in shares of Wave Life Sciences by 2.7% during the 1st quarter. Swiss National Bank now owns 156,500 shares of the company’s stock valued at $966,000 after purchasing an additional 4,100 shares in the last quarter. Capstone Investment Advisors LLC grew its stake in Wave Life Sciences by 9.0% during the first quarter. Capstone Investment Advisors LLC now owns 54,500 shares of the company’s stock worth $336,000 after purchasing an additional 4,500 shares during the period. Finally, ProShare Advisors LLC increased its holdings in Wave Life Sciences by 35.0% in the first quarter. ProShare Advisors LLC now owns 21,764 shares of the company’s stock worth $134,000 after purchasing an additional 5,648 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Wave Life Sciences

In other news, major shareholder Plc Gsk bought 2,791,930 shares of the company’s stock in a transaction on Friday, September 27th. The shares were purchased at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the transaction, the insider now directly owns 16,775,691 shares in the company, valued at $134,205,528. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Wave Life Sciences news, major shareholder Plc Gsk bought 2,791,930 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was purchased at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the transaction, the insider now directly owns 16,775,691 shares in the company, valued at $134,205,528. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul Bolno sold 48,366 shares of Wave Life Sciences stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total value of $279,555.48. Following the sale, the chief executive officer now owns 359,059 shares in the company, valued at $2,075,361.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

WVE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. started coverage on shares of Wave Life Sciences in a research report on Friday, September 27th. They set an “overweight” rating and a $13.00 price objective for the company. Mizuho reaffirmed an “outperform” rating and issued a $19.00 price target on shares of Wave Life Sciences in a research note on Tuesday, June 25th. HC Wainwright increased their price objective on shares of Wave Life Sciences from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. B. Riley boosted their target price on Wave Life Sciences from $11.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada increased their price target on Wave Life Sciences from $5.00 to $7.00 and gave the stock a “sector perform” rating in a report on Friday, October 4th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Wave Life Sciences Stock Performance

Shares of WVE opened at $8.41 on Thursday. The firm has a market capitalization of $1.03 billion, a P/E ratio of -16.17 and a beta of -1.10. Wave Life Sciences Ltd. has a 52 week low of $3.50 and a 52 week high of $9.92. The stock has a 50 day moving average price of $6.34 and a two-hundred day moving average price of $5.97.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The company had revenue of $19.69 million for the quarter, compared to the consensus estimate of $24.80 million. Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. During the same quarter last year, the company posted ($0.20) EPS. On average, equities analysts forecast that Wave Life Sciences Ltd. will post -1.02 earnings per share for the current year.

About Wave Life Sciences

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.