Platinum Investment Management Ltd. Has $3.86 Million Holdings in Wave Life Sciences Ltd. (NASDAQ:WVE)

Platinum Investment Management Ltd. lessened its holdings in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 32.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 311,992 shares of the company’s stock after selling 149,675 shares during the period. Platinum Investment Management Ltd. owned about 0.20% of Wave Life Sciences worth $3,859,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. KBC Group NV acquired a new stake in shares of Wave Life Sciences during the 4th quarter worth approximately $67,000. Point72 DIFC Ltd acquired a new stake in shares of Wave Life Sciences during the 3rd quarter worth approximately $98,000. Orion Portfolio Solutions LLC acquired a new stake in shares of Wave Life Sciences during the 3rd quarter worth approximately $123,000. XTX Topco Ltd acquired a new stake in shares of Wave Life Sciences during the 3rd quarter worth approximately $126,000. Finally, Raymond James Financial Inc. bought a new position in Wave Life Sciences in the 4th quarter valued at approximately $157,000. Institutional investors and hedge funds own 89.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. StockNews.com raised shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Mizuho raised their price target on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Jefferies Financial Group initiated coverage on shares of Wave Life Sciences in a report on Tuesday, February 25th. They issued a “buy” rating and a $26.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $22.00 price objective on shares of Wave Life Sciences in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.60.

Wave Life Sciences Trading Down 3.7 %

WVE stock opened at $9.79 on Wednesday. The stock has a market capitalization of $1.50 billion, a PE ratio of -8.82 and a beta of -1.04. Wave Life Sciences Ltd. has a 12-month low of $4.25 and a 12-month high of $16.74. The stock’s 50 day simple moving average is $11.06 and its 200 day simple moving average is $11.50.

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

Insider Activity

In other Wave Life Sciences news, CEO Paul Bolno sold 169,025 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were 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 owns 338,351 shares of the company’s stock, valued at $3,238,019.07. This trade represents a 33.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 29.10% of the company’s stock.

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.