Baker BROS. Advisors LP Makes New $2.82 Million Investment in Wave Life Sciences Ltd. (NASDAQ:WVE)

Baker BROS. Advisors LP purchased a new stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) during the 3rd quarter, HoldingsChannel reports. The fund purchased 344,063 shares of the company’s stock, valued at approximately $2,821,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Wave Life Sciences by 23.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock worth $37,000 after purchasing an additional 856 shares in the last quarter. Profund Advisors LLC bought a new position in shares of Wave Life Sciences in the second quarter valued at $53,000. Principal Financial Group Inc. acquired a new stake in shares of Wave Life Sciences during the 2nd quarter valued at $74,000. Mackenzie Financial Corp boosted its stake in shares of Wave Life Sciences by 13.6% during the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after acquiring an additional 1,905 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of Wave Life Sciences during the 2nd quarter worth $104,000. Institutional investors own 89.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on WVE shares. Mizuho boosted their target price on Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. B. Riley boosted their price objective on Wave Life Sciences from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Truist Financial raised their target price on shares of Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. HC Wainwright restated a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company lifted their price objective on shares of Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.22.

Insider Buying and Selling

In other Wave Life Sciences news, insider Chris Francis sold 208,836 shares of the business’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kyle Moran sold 17,146 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total transaction of $154,314.00. Following the transaction, the chief financial officer now owns 19,777 shares in the company, valued at approximately $177,993. This trade represents a 46.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 453,690 shares of company stock worth $6,425,883. Corporate insiders own 29.10% of the company’s stock.

Wave Life Sciences Trading Up 0.7 %

WVE stock opened at $15.10 on Monday. The company has a 50 day moving average of $12.49 and a two-hundred day moving average of $8.16. Wave Life Sciences Ltd. has a 12-month low of $3.50 and a 12-month high of $16.74.

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.