Wave Life Sciences Ltd. (NASDAQ:WVE) Major Shareholder Plc Gsk Purchases 2,791,930 Shares

Wave Life Sciences Ltd. (NASDAQ:WVE) major shareholder Plc Gsk bought 2,791,930 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the transaction, the insider now owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Wave Life Sciences Stock Up 1.2 %

WVE stock opened at $8.30 on Wednesday. The company has a fifty day simple moving average of $6.07 and a two-hundred day simple moving average of $5.85. The firm has a market capitalization of $1.02 billion, a P/E ratio of -15.96 and a beta of -1.13. Wave Life Sciences Ltd. has a 52 week low of $3.50 and a 52 week high of $9.92.

Wave Life Sciences (NASDAQ:WVE) last released its 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 firm had revenue of $19.69 million during 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 business posted ($0.20) EPS. As a group, analysts anticipate that Wave Life Sciences Ltd. will post -1.04 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on WVE. HC Wainwright upped their target price 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. Mizuho restated an “outperform” rating and set a $19.00 target price on shares of Wave Life Sciences in a research report on Tuesday, June 25th. B. Riley began coverage on shares of Wave Life Sciences in a research report on Thursday, September 19th. They set a “buy” rating and a $11.00 target price for the company. Finally, JPMorgan Chase & Co. began 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. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.75.

Institutional Investors Weigh In On Wave Life Sciences

Several institutional investors have recently made changes to their positions in the company. Trexquant Investment LP purchased a new position in Wave Life Sciences in the 4th quarter worth about $162,000. TD Asset Management Inc increased its stake in Wave Life Sciences by 26.5% in the 4th quarter. TD Asset Management Inc now owns 205,746 shares of the company’s stock worth $1,039,000 after buying an additional 43,054 shares during the period. Capstone Investment Advisors LLC purchased a new position in Wave Life Sciences in the 4th quarter worth about $252,000. Platinum Investment Management Ltd. increased its stake in Wave Life Sciences by 43.9% in the 4th quarter. Platinum Investment Management Ltd. now owns 655,331 shares of the company’s stock worth $3,309,000 after buying an additional 200,000 shares during the period. Finally, Birchview Capital LP purchased a new position in Wave Life Sciences in the 4th quarter worth about $202,000. Institutional investors own 89.73% of the company’s stock.

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.