Martingale Asset Management L P Acquires 22,652 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

Martingale Asset Management L P raised its stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 25.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 111,199 shares of the company’s stock after purchasing an additional 22,652 shares during the quarter. Martingale Asset Management L P’s holdings in Wave Life Sciences were worth $912,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in WVE. Privium Fund Management B.V. purchased a new stake in shares of Wave Life Sciences during the 3rd quarter valued at about $400,000. Moody Aldrich Partners LLC lifted its position in shares of Wave Life Sciences by 69.0% during the 3rd quarter. Moody Aldrich Partners LLC now owns 303,062 shares of the company’s stock valued at $2,485,000 after buying an additional 123,703 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Wave Life Sciences in the second quarter worth $668,000. Vanguard Group Inc. boosted its holdings in Wave Life Sciences by 39.7% in the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock worth $11,316,000 after buying an additional 521,665 shares during the period. Finally, Driehaus Capital Management LLC lifted its position in shares of Wave Life Sciences by 62.2% in the second quarter. Driehaus Capital Management LLC now owns 908,096 shares of the company’s stock valued at $4,531,000 after acquiring an additional 348,300 shares in the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Paul Bolno sold 50,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $15.00, for a total value of $750,000.00. Following the completion of the sale, the chief executive officer now directly owns 217,351 shares of the company’s stock, valued at $3,260,265. This represents a 18.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Plc Gsk bought 2,791,930 shares of the business’s stock in a transaction on Friday, September 27th. The shares were acquired at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the transaction, the insider now directly owns 16,775,691 shares in the company, valued at approximately $134,205,528. This trade represents a 19.97 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 453,690 shares of company stock worth $6,425,883 over the last quarter. Company insiders own 29.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WVE. JPMorgan Chase & Co. lifted their target price on Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. B. Riley boosted their target price on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, November 4th. HC Wainwright reiterated a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a report on Wednesday, November 13th. Raymond James raised shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $13.00 to $22.00 in a report on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their target price on Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.22.

Wave Life Sciences Stock Up 1.1 %

WVE stock opened at $15.27 on Tuesday. Wave Life Sciences Ltd. has a twelve month low of $3.50 and a twelve month high of $16.74. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of -13.76 and a beta of -1.21. The firm’s fifty day simple moving average is $12.69 and its two-hundred day simple moving average is $8.23.

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.