Wave Life Sciences Ltd. (NASDAQ:WVE) Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership trimmed its position in Wave Life Sciences Ltd. (NASDAQ:WVE) by 2.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,906,790 shares of the company’s stock after selling 53,680 shares during the period. Artisan Partners Limited Partnership’s holdings in Wave Life Sciences were worth $23,587,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. raised its position in shares of Wave Life Sciences by 16.6% during the 4th quarter. Victory Capital Management Inc. now owns 14,546 shares of the company’s stock valued at $180,000 after buying an additional 2,073 shares during the period. Kraematon Investment Advisors Inc. raised its position in Wave Life Sciences by 24.3% in the fourth quarter. Kraematon Investment Advisors Inc. now owns 19,885 shares of the company’s stock valued at $246,000 after purchasing an additional 3,885 shares during the period. Corebridge Financial Inc. lifted its stake in shares of Wave Life Sciences by 10.7% in the 4th quarter. Corebridge Financial Inc. now owns 45,824 shares of the company’s stock valued at $567,000 after purchasing an additional 4,423 shares during the last quarter. KBC Group NV acquired a new position in shares of Wave Life Sciences in the 4th quarter valued at $67,000. Finally, New York State Common Retirement Fund grew its holdings in shares of Wave Life Sciences by 6.8% during the 4th quarter. New York State Common Retirement Fund now owns 109,084 shares of the company’s stock worth $1,349,000 after purchasing an additional 6,900 shares during the period. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Insider Activity

In other news, CEO Paul Bolno sold 169,025 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the completion of the transaction, the chief executive officer now directly owns 338,351 shares of the company’s stock, valued at approximately $3,238,019.07. This represents a 33.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christian O. Henry sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $9.77, for a total transaction of $102,585.00. Following the sale, the director now directly owns 16,115 shares in the company, valued at approximately $157,443.55. The trade was a 39.45 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 29.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on WVE shares. StockNews.com raised shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Jefferies Financial Group assumed coverage on shares of Wave Life Sciences in a report on Tuesday, February 25th. They issued a “buy” rating and a $26.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $22.00 target price on shares of Wave Life Sciences in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.60.

Wave Life Sciences Price Performance

WVE opened at $8.62 on Friday. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -7.77 and a beta of -1.04. The business has a fifty day moving average price of $10.73 and a 200 day moving average price of $11.64. Wave Life Sciences Ltd. has a 12 month low of $4.25 and a 12 month high of $16.74.

Wave Life Sciences (NASDAQ:WVE) last released its earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.34. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. The firm had revenue of $83.75 million for the quarter, compared to analyst estimates of $25.60 million. On average, research analysts anticipate that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current year.

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.