Polar Asset Management Partners Inc. Has $6.89 Million Position in Wave Life Sciences Ltd. (NASDAQ:WVE)

Polar Asset Management Partners Inc. increased its position in Wave Life Sciences Ltd. (NASDAQ:WVE) by 14.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 557,323 shares of the company’s stock after buying an additional 71,300 shares during the period. Polar Asset Management Partners Inc. owned 0.37% of Wave Life Sciences worth $6,894,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Polar Capital Holdings Plc acquired a new position in Wave Life Sciences in the fourth quarter worth approximately $12,370,000. MPM Bioimpact LLC increased its holdings in Wave Life Sciences by 138.5% in the fourth quarter. MPM Bioimpact LLC now owns 1,489,237 shares of the company’s stock worth $18,422,000 after buying an additional 864,766 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in Wave Life Sciences by 32.9% during the fourth quarter. Nuveen Asset Management LLC now owns 553,439 shares of the company’s stock valued at $6,846,000 after purchasing an additional 137,159 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new position in Wave Life Sciences during the fourth quarter valued at approximately $247,000. Finally, Millennium Management LLC grew its holdings in Wave Life Sciences by 38.7% during the fourth quarter. Millennium Management LLC now owns 1,180,838 shares of the company’s stock valued at $14,607,000 after purchasing an additional 329,173 shares during the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

Insider Buying and Selling at Wave Life Sciences

In other news, Director Christian O. Henry sold 10,500 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $9.77, for a total value of $102,585.00. Following the completion of the sale, the director now directly owns 16,115 shares in the company, valued at approximately $157,443.55. This trade represents a 39.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Paul Bolno sold 169,025 shares of the firm’s stock in a transaction on 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 approximately $3,238,019.07. This trade represents a 33.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 29.10% of the company’s stock.

Wall Street Analyst Weigh In

WVE has been the topic of several analyst reports. StockNews.com downgraded Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Friday, May 9th. Jefferies Financial Group began coverage on Wave Life Sciences in a report on Tuesday, February 25th. They set a “buy” rating and a $26.00 price target on the stock. Cantor Fitzgerald began coverage on Wave Life Sciences in a research report on Tuesday, April 29th. They issued an “overweight” rating and a $10.00 price objective for the company. Wedbush began coverage on Wave Life Sciences in a research report on Tuesday, April 8th. They issued an “outperform” rating and a $18.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $22.00 price objective on shares of Wave Life Sciences in a research report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.17.

Wave Life Sciences Price Performance

Shares of WVE stock opened at $6.30 on Friday. The stock has a market cap of $970.77 million, a P/E ratio of -5.68 and a beta of -0.92. Wave Life Sciences Ltd. has a one year low of $4.25 and a one year high of $16.74. The stock has a fifty day moving average price of $7.50 and a 200 day moving average price of $10.95.

Wave Life Sciences (NASDAQ:WVE) last issued its earnings results on Thursday, May 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The firm had revenue of $9.18 million during the quarter, compared to the consensus estimate of $11.65 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. During the same period last year, the business earned ($0.24) earnings per share. Equities research analysts anticipate 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.