Connor Clark & Lunn Investment Management Ltd. Sells 14,740 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in Wave Life Sciences Ltd. (NASDAQ:WVE) by 4.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 325,009 shares of the company’s stock after selling 14,740 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.26% of Wave Life Sciences worth $2,665,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. GSA Capital Partners LLP increased its holdings in shares of Wave Life Sciences by 14.9% during the third quarter. GSA Capital Partners LLP now owns 63,513 shares of the company’s stock valued at $521,000 after acquiring an additional 8,255 shares in the last quarter. Privium Fund Management B.V. acquired a new position in Wave Life Sciences during the third quarter worth $400,000. James J. Burns & Company LLC grew its holdings in shares of Wave Life Sciences by 11.2% during the third quarter. James J. Burns & Company LLC now owns 100,111 shares of the company’s stock valued at $821,000 after buying an additional 10,111 shares during the last quarter. Emerald Advisers LLC increased its position in shares of Wave Life Sciences by 15.6% during the third quarter. Emerald Advisers LLC now owns 2,881,510 shares of the company’s stock worth $23,628,000 after acquiring an additional 388,280 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its holdings in shares of Wave Life Sciences by 16.6% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 2,123,466 shares of the company’s stock worth $17,412,000 after acquiring an additional 302,528 shares during the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

Wave Life Sciences Stock Down 0.6 %

Wave Life Sciences stock opened at $14.27 on Monday. Wave Life Sciences Ltd. has a twelve month low of $3.50 and a twelve month high of $16.74. The firm has a 50 day moving average price of $11.57 and a 200-day moving average price of $7.83. The company has a market capitalization of $2.18 billion, a P/E ratio of -12.86 and a beta of -1.20.

Insider Buying and Selling at Wave Life Sciences

In other news, CFO Kyle Moran sold 17,146 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total value of $154,314.00. Following the completion of the transaction, the chief financial officer now directly owns 19,777 shares of the company’s stock, valued at $177,993. This trade represents a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Francis sold 208,836 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $13.67, for a total value of $2,854,788.12. The disclosure for this sale can be found here. Insiders have sold a total of 403,690 shares of company stock worth $5,675,883 over the last ninety days. 29.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WVE. JPMorgan Chase & Co. increased their price objective on Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Mizuho raised their price objective on Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday. Truist Financial increased their target price on shares of Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. HC Wainwright restated a “buy” rating and set a $22.00 price target on shares of Wave Life Sciences in a report on Wednesday, November 13th. Finally, Wells Fargo & Company increased their price objective on shares of Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.22.

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.