Wave Life Sciences Ltd. (NASDAQ:WVE) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd trimmed its position in Wave Life Sciences Ltd. (NASDAQ:WVE) by 57.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,559 shares of the company’s stock after selling 39,244 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Wave Life Sciences were worth $242,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its stake 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 acquiring an additional 856 shares in the last quarter. Profund Advisors LLC acquired a new stake in shares of Wave Life Sciences during the second quarter worth about $53,000. Principal Financial Group Inc. purchased a new stake in shares of Wave Life Sciences in the 2nd quarter valued at about $74,000. Mackenzie Financial Corp boosted its position in shares of Wave Life Sciences by 13.6% in the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after purchasing an additional 1,905 shares during the period. Finally, Point72 DIFC Ltd purchased a new position in Wave Life Sciences during the 3rd quarter worth approximately $98,000. 89.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WVE. StockNews.com downgraded Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. Raymond James raised shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $13.00 to $22.00 in a research report on Wednesday, October 16th. Mizuho upped their target price on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Leerink Partners raised their price target on Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, B. Riley upped their price objective on Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.22.

Wave Life Sciences Trading Down 9.4 %

Shares of WVE opened at $13.09 on Thursday. The stock’s 50 day moving average is $14.13 and its two-hundred day moving average is $8.90. Wave Life Sciences Ltd. has a twelve month low of $3.50 and a twelve month high of $16.74. The firm has a market capitalization of $2.00 billion, a PE ratio of -11.79 and a beta of -1.21.

Insider Activity at Wave Life Sciences

In related news, major shareholder Plc Gsk bought 2,791,930 shares of the stock in a transaction on Friday, September 27th. The shares were bought at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the transaction, the insider now owns 16,775,691 shares of the company’s stock, valued at $134,205,528. This represents a 19.97 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Francis sold 208,836 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were 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. Insiders have sold a total of 453,690 shares of company stock worth $6,425,883 over the last three months. 29.10% of the stock is currently owned by corporate insiders.

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.