Virtu Financial LLC Makes New Investment in Wave Life Sciences Ltd. (NASDAQ:WVE)

Virtu Financial LLC bought a new stake in Wave Life Sciences Ltd. (NASDAQ:WVE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,819 shares of the company’s stock, valued at approximately $258,000.

Several other institutional investors and hedge funds have also modified their holdings of WVE. KBC Group NV bought a new position in Wave Life Sciences during the 4th quarter worth $67,000. Point72 DIFC Ltd acquired a new stake in shares of Wave Life Sciences during the 3rd quarter worth $98,000. Raymond James Financial Inc. bought a new position in shares of Wave Life Sciences in the fourth quarter worth $157,000. Victory Capital Management Inc. raised its stake in Wave Life Sciences by 16.6% in the fourth quarter. Victory Capital Management Inc. now owns 14,546 shares of the company’s stock valued at $180,000 after purchasing an additional 2,073 shares in the last quarter. Finally, Orion Portfolio Solutions LLC acquired a new position in Wave Life Sciences in the third quarter valued at about $123,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.

Wave Life Sciences Stock Performance

Shares of NASDAQ:WVE opened at $8.62 on Friday. Wave Life Sciences Ltd. has a 52-week low of $4.25 and a 52-week high of $16.74. The company has a market capitalization of $1.32 billion, a PE ratio of -7.77 and a beta of -1.04. The company has a fifty day moving average of $10.73 and a 200-day moving average of $11.64.

Wave Life Sciences (NASDAQ:WVE) last posted its earnings results on Tuesday, March 4th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.34. The firm had revenue of $83.75 million during the quarter, compared to the consensus estimate 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 forecast that Wave Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WVE. HC Wainwright reiterated a “buy” rating and set a $22.00 price objective on shares of Wave Life Sciences in a research note on Wednesday. Jefferies Financial Group assumed coverage on shares of Wave Life Sciences in a research report on Tuesday, February 25th. They set a “buy” rating and a $26.00 price target on the stock. Finally, StockNews.com upgraded shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wave Life Sciences presently has an average rating of “Moderate Buy” and an average price target of $22.60.

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.