Orion Portfolio Solutions LLC Purchases Shares of 14,941 Wave Life Sciences Ltd. (NASDAQ:WVE)

Orion Portfolio Solutions LLC purchased a new position in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,941 shares of the company’s stock, valued at approximately $123,000.

Several other institutional investors also recently modified their holdings of WVE. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Wave Life Sciences by 23.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock worth $37,000 after buying an additional 856 shares during the period. Mackenzie Financial Corp raised its position in shares of Wave Life Sciences by 13.6% during the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after acquiring an additional 1,905 shares during the last quarter. Rhumbline Advisers boosted its holdings in Wave Life Sciences by 3.4% in the second quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock valued at $628,000 after acquiring an additional 4,092 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Wave Life Sciences by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 139,790 shares of the company’s stock valued at $698,000 after purchasing an additional 4,914 shares during the period. Finally, US Bancorp DE raised its holdings in Wave Life Sciences by 53.9% during the 3rd quarter. US Bancorp DE now owns 18,043 shares of the company’s stock worth $148,000 after purchasing an additional 6,316 shares during the last quarter. Institutional investors own 89.73% of the company’s stock.

Wave Life Sciences Stock Performance

Shares of NASDAQ:WVE opened at $13.51 on Friday. The firm has a market cap of $2.06 billion, a P/E ratio of -12.17 and a beta of -1.21. Wave Life Sciences Ltd. has a 52-week low of $3.50 and a 52-week high of $16.74. The business’s 50 day simple moving average is $14.32 and its two-hundred day simple moving average is $8.98.

Analyst Ratings Changes

WVE has been the topic of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Wave Life Sciences in a research note on Wednesday, November 13th. Raymond James raised shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $13.00 to $22.00 in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Mizuho upped their target price on Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, Truist Financial lifted their target price on Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.22.

Insider Buying and Selling

In related news, major shareholder Plc Gsk acquired 2,791,930 shares of the firm’s stock in a transaction on 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 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Paul Bolno sold 90,474 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $15.00, for a total value of $1,357,110.00. Following the completion of the sale, the chief executive officer now directly owns 268,585 shares of the company’s stock, valued at approximately $4,028,775. This trade represents a 25.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 453,690 shares of company stock worth $6,425,883 in the last ninety days. Corporate insiders own 29.10% of the company’s stock.

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.