Wave Life Sciences Ltd. (NASDAQ:WVE) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its stake in Wave Life Sciences Ltd. (NASDAQ:WVE) by 72.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,563 shares of the company’s stock after selling 97,264 shares during the period. SG Americas Securities LLC’s holdings in Wave Life Sciences were worth $300,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WVE. Ameritas Investment Partners Inc. raised its holdings in shares of 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 buying an additional 2,451 shares during the last quarter. Profund Advisors LLC bought a new stake in shares of Wave Life Sciences during the second quarter valued at approximately $53,000. Principal Financial Group Inc. bought a new stake in shares of Wave Life Sciences during the second quarter valued at approximately $74,000. Mackenzie Financial Corp raised its holdings in 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 purchasing an additional 1,905 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in Wave Life Sciences during the second quarter worth approximately $104,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on WVE. B. Riley boosted their target price on Wave Life Sciences from $11.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. boosted their target price on Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday. Wells Fargo & Company boosted their target price on Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday. Royal Bank of Canada upped their price target on Wave Life Sciences from $5.00 to $7.00 and gave the company a “sector perform” rating in a report on Friday, October 4th. Finally, Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $13.00 to $22.00 in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.56.

Wave Life Sciences Price Performance

Shares of NASDAQ WVE opened at $15.31 on Friday. The company’s 50 day simple moving average is $7.10 and its 200 day simple moving average is $6.22. Wave Life Sciences Ltd. has a fifty-two week low of $3.50 and a fifty-two week high of $15.92. The firm has a market capitalization of $1.88 billion, a P/E ratio of -29.44 and a beta of -1.10.

Wave Life Sciences (NASDAQ:WVE) last posted its earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The firm had revenue of $19.69 million during the quarter, compared to analyst estimates 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 business posted ($0.20) earnings per share. Sell-side analysts expect that Wave Life Sciences Ltd. will post -1.02 EPS for the current fiscal year.

Insider Transactions at Wave Life Sciences

In other news, CFO Kyle Moran sold 17,146 shares of Wave Life Sciences stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the completion of the transaction, the chief financial officer now owns 19,777 shares of the company’s stock, valued at $177,993. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Wave Life Sciences news, CFO Kyle Moran sold 17,146 shares of Wave Life Sciences stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the completion of the sale, the chief financial officer now owns 19,777 shares in the company, valued at $177,993. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Francis sold 208,836 shares of Wave Life Sciences stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $13.67, for a total transaction of $2,854,788.12. The disclosure for this sale can be found here. Insiders sold 364,822 shares of company stock valued at $4,645,768 over the last quarter. Corporate insiders own 29.10% of the company’s stock.

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.