Genetic medicines company Wave Life Sciences Ltd. (NASDAQ: WVE) recently revealed in a filing with the Securities Exchange Commission (SEC) that a top shareholder of the company has bought substantial shares of the company.
A top shareholder is one who owns a stake of more than 10% in the company.
Ra Capital Management, LLC is the top shareholder who has made the significant purchase.
Shares of the company were upbeat as it gained almost 4.6% to close at $2.06 in yesterday’s trading session.
On June 16, Ra Capital Management bought 9,480,052 shares at an average price of $2.15, imputing a value of about $20.4 million.
Following the acquisition, Ra Capital Management now owns 17,202,009 shares of Wave Life Sciences.
Notably, apart from being a top shareholder, Ra Capital Management also occupies a position of Director in the company.
https://www.tipranks.com/news/key-insider-bought-shares-of-wave-life-sciences-what-now/
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