Point72 Asset Management L.P. acquired a new position in shares of Wave Life Sciences Ltd (NASDAQ:WVE) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 628,912 shares of the company’s stock, valued at approximately $13,679,000. Point72 Asset Management L.P. owned about 2.26% of Wave Life Sciences at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nationwide Fund Advisors grew its stake in Wave Life Sciences by 58.1% during the 2nd quarter. Nationwide Fund Advisors now owns 6,720 shares of the company’s stock worth $125,000 after buying an additional 2,470 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Wave Life Sciences by 71.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,422 shares of the company’s stock worth $175,000 after buying an additional 3,912 shares during the last quarter. Strs Ohio grew its stake in Wave Life Sciences by 6.3% during the 2nd quarter. Strs Ohio now owns 11,900 shares of the company’s stock worth $221,000 after buying an additional 700 shares during the last quarter. Rhumbline Advisers grew its stake in Wave Life Sciences by 62.3% during the 2nd quarter. Rhumbline Advisers now owns 12,502 shares of the company’s stock worth $233,000 after buying an additional 4,800 shares during the last quarter. Finally, New York State Common Retirement Fund grew its stake in Wave Life Sciences by 64.9% during the 2nd quarter. New York State Common Retirement Fund now owns 12,700 shares of the company’s stock worth $236,000 after buying an additional 4,999 shares during the last quarter. Hedge funds and other institutional investors own 73.74% of the company’s stock.

Wave Life Sciences Ltd (NASDAQ:WVE) opened at $38.35 on Friday. Wave Life Sciences Ltd has a 52 week low of $15.15 and a 52 week high of $39.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.50 and a current ratio of 11.50.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Thursday, November 9th. The company reported ($0.94) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.97) by $0.03. Wave Life Sciences had a negative return on equity of 59.52% and a negative net margin of 3,338.68%. The company had revenue of $0.68 million during the quarter, compared to analysts’ expectations of $0.77 million. sell-side analysts anticipate that Wave Life Sciences Ltd will post -3.76 EPS for the current fiscal year.

A number of brokerages recently commented on WVE. BidaskClub upgraded Wave Life Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 2nd. Leerink Swann restated an “outperform” rating and set a $53.00 price objective (up from $42.00) on shares of Wave Life Sciences in a research note on Wednesday, November 15th. Mizuho set a $34.00 price objective on Wave Life Sciences and gave the stock a “buy” rating in a research note on Saturday, October 21st. Finally, Zacks Investment Research raised Wave Life Sciences from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $41.60.

In other news, insider Chandra Vargeese sold 1,500 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $35.00, for a total value of $52,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Masaharu Tanaka sold 20,747 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $24.21, for a total value of $502,284.87. The disclosure for this sale can be found here. Corporate insiders own 53.00% of the company’s stock.

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About Wave Life Sciences

WAVE Life Sciences Ltd. is a genetic medicines company. The Company, through its synthetic chemistry drug development platform, designs, develops and commercializes a pipeline of nucleic acid therapeutic candidates for genetically defined diseases. The Company is engaged in developing oligonucleotides that target genetic defects to either reduce the expression of disease-promoting proteins or transform the production of dysfunctional mutant proteins into the production of functional proteins.

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Institutional Ownership by Quarter for Wave Life Sciences (NASDAQ:WVE)

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