Price T Rowe Associates Inc. MD Grows Stock Holdings in Wave Life Sciences Ltd. (NASDAQ:WVE)

Price T Rowe Associates Inc. MD increased its stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 63.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,098,866 shares of the company’s stock after buying an additional 1,972,262 shares during the quarter. Price T Rowe Associates Inc. MD owned about 3.34% of Wave Life Sciences worth $63,074,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Wave Life Sciences by 10.2% during the fourth quarter. Vanguard Group Inc. now owns 3,182,512 shares of the company’s stock worth $39,368,000 after buying an additional 294,956 shares during the last quarter. Emerald Advisers LLC boosted its holdings in Wave Life Sciences by 9.7% in the 4th quarter. Emerald Advisers LLC now owns 3,162,369 shares of the company’s stock valued at $39,119,000 after purchasing an additional 280,859 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Wave Life Sciences by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 2,470,751 shares of the company’s stock valued at $30,571,000 after purchasing an additional 201,087 shares in the last quarter. Loomis Sayles & Co. L P purchased a new stake in Wave Life Sciences in the 4th quarter valued at approximately $20,545,000. Finally, Affinity Asset Advisors LLC boosted its holdings in Wave Life Sciences by 7.1% in the 4th quarter. Affinity Asset Advisors LLC now owns 1,500,000 shares of the company’s stock valued at $18,555,000 after purchasing an additional 100,000 shares in the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com raised Wave Life Sciences from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. Wedbush started coverage on Wave Life Sciences in a report on Tuesday, April 8th. They issued an “outperform” rating and a $18.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $22.00 price target on shares of Wave Life Sciences in a research note on Wednesday, March 26th. Finally, Jefferies Financial Group assumed coverage on Wave Life Sciences in a research note on Tuesday, February 25th. They issued a “buy” rating and a $26.00 price objective for the company. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Wave Life Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $22.18.

Insider Buying and Selling

In other Wave Life Sciences news, Director Christian O. Henry sold 10,500 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $9.77, for a total value of $102,585.00. Following the sale, the director now directly owns 16,115 shares of the company’s stock, valued at approximately $157,443.55. This trade represents a 39.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paul Bolno sold 169,025 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $9.57, for a total value of $1,617,569.25. Following the completion of the sale, the chief executive officer now directly owns 338,351 shares in the company, valued at approximately $3,238,019.07. The trade was a 33.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.10% of the stock is currently owned by company insiders.

Wave Life Sciences Trading Up 1.5 %

Wave Life Sciences stock opened at $6.83 on Tuesday. The stock has a market cap of $1.05 billion, a PE ratio of -6.15 and a beta of -0.93. The stock has a 50-day moving average price of $8.40 and a 200 day moving average price of $11.53. Wave Life Sciences Ltd. has a 52 week low of $4.25 and a 52 week high of $16.74.

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

Wave Life Sciences 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.