WVENasdaqPharmaceutical PreparationsFiscal year ends December 31
Wave Life Sciences, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$3.17+0.04 (+1.28%)
Close on Oct 19, 2026
- Market cap
- $646.71M
- P/E (TTM)
- –
- Dividend yield
- –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
92.7%
183M of 197M shares
Institutional holders
239
50 new, 37 sold out
Net institutional buying
11M
In Q2 2026
Insider trades, 12 months
6 buys · 47 sales
Net bought $66.38M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| BlackRock, Inc. | 9,360,163 | 6.10% | 13G (passive) amendment | Dec 31, 2024 |
| Maverick Capital, Ltd. | 8,261,242 | 5.40% | 13G (passive) amendment | Dec 31, 2024 |
| Phillip Gross | 5,987,730 | 5.03% | 13G (passive) amendment | Dec 31, 2023 |
| RA Capital Management, L.P. | 34,314,406 | 16.80% | 13D (active) amendment | Aug 7, 2026 |
| Rajeev Shah | 34,225,506 | 17.10% | 13D (active) amendment | Apr 15, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of WVE | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| Ra Capital Management, L.P. | 26,975,505 | 13.69% | $156.73M | – | 1.36% |
| BlackRock, Inc. | 19,202,461 | 9.75% | $111.57M | +5,085,049 | 0.00% |
| GSK plc | 18,245,691 | 9.26% | $106.01M | – | 17.60% |
| Maverick Capital Ltd | 10,278,115 | 5.22% | $59.72M | +116,716 | 0.53% |
| Driehaus Capital Management LLC | 5,443,143 | 2.76% | $31.62M | +12,122 | 0.18% |
| Primecap Management Co/Ca/ | 5,354,622 | 2.72% | $31.11M | +521,670 | 0.02% |
| 683 Capital Management, LLC | 4,950,000 | 2.51% | $28.76M | +50,000 | 1.41% |
| FMR LLC | 4,922,477 | 2.50% | $28.60M | −270,284 | 0.00% |
| State Street Corp | 4,839,317 | 2.46% | $28.12M | +1,165,284 | 0.00% |
| Readystate Asset Management LP | 4,727,139 | 2.40% | $27.46M | New | 0.94% |
| M28 Capital Management LP | 4,588,284 | 2.33% | $26.66M | – | 56.53% |
| Geode Capital Management, LLC | 3,869,998 | 1.96% | $22.49M | +290,899 | 0.00% |
| Two Sigma Investments, LP | 3,707,686 | 1.88% | $21.54M | +1,829,571 | 0.02% |
| Algert Global LLC | 2,817,615 | 1.43% | $16.37M | +1,502,026 | 0.19% |
| Qube Research & Technologies Ltd | 2,776,000 | 1.41% | $16.13M | +2,620,076 | 0.01% |
| Squarepoint Ops LLC | 2,541,442 | 1.29% | $14.77M | +1,079,052 | 0.02% |
| Morgan Stanley | 2,422,705 | 1.23% | $14.08M | +1,061,704 | 0.00% |
| Vanguard Portfolio Management LLC | 2,110,751 | 1.07% | $12.26M | +934,544 | 0.00% |
| Pfizer Inc | 1,875,000 | 0.95% | $10.93M | – | 6.42% |
| Millennium Management LLC | 1,811,282 | 0.92% | $10.52M | +839,041 | 0.00% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 239 | 183M | 92.7% | 50 / 100 | 54 / 37 | 38M | 27M |
| Q1 2026 | 232 | 173M | 87.6% | 51 / 107 | 48 / 35 | 37M | 44M |
| Q4 2025 | 219 | 183M | 92.8% | 73 / 78 | 48 / 38 | 64M | 25M |
| Q3 2025 | 189 | 145M | 73.4% | 32 / 62 | 61 / 18 | 16M | 11M |
| Q2 2025 | 176 | 139M | 70.5% | 23 / 84 | 39 / 40 | 14M | 6M |
| Q1 2025 | 196 | 131M | 66.7% | 34 / 83 | 52 / 20 | 10M | 7M |
| Q4 2024 | 183 | 129M | 65.3% | 46 / 75 | 39 / 24 | 19M | 11M |
| Q3 2024 | 162 | 121M | 61.3% | 37 / 60 | 38 / 17 | 42M | 10M |
| Q2 2024 | 144 | 96M | 48.5% | 36 / 48 | 45 / 23 | 10M | 10M |
| Q1 2024 | 132 | 95M | 48.3% | 34 / 54 | 32 / 16 | 12M | 10M |
| Q4 2023 | 115 | 93M | 47.3% | 40 / 48 | 11 / 10 | 21M | 1M |
| Q3 2023 | 85 | 73M | 36.8% | 11 / 28 | 28 / 7 | 4M | 3M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of WVE | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Extended Market Index Fund | 1,751,923 | 0.89% | $10.18M | 0.01% | Jun 30, 2026 |
| Driehaus Small Cap Growth Fund | 741,885 | 0.38% | $4.31M | 0.27% | Jun 30, 2026 |
| Vanguard Russell 2000 Index Fund | 718,284 | 0.36% | $4.73M | 0.03% | May 31, 2026 |
| North Square Dynamic Small Cap Fund | 707,270 | 0.36% | $4.65M | 0.59% | May 31, 2026 |
| Vanguard Strategic Equity Fund | 424,855 | 0.22% | $2.47M | 0.02% | Jun 30, 2026 |
| iShares U.S. Pharmaceuticals ETF | 394,231 | 0.20% | $2.29M | 0.20% | Jun 30, 2026 |
| Bridge Builder Small/Mid Cap Growth Fund | 387,093 | 0.20% | $2.25M | 0.02% | Jun 30, 2026 |
| Dimensional U.S. Small Cap ETF | 386,104 | 0.20% | $2.13M | 0.01% | Jul 31, 2026 |
| Small Cap Equity Fund | 340,145 | 0.17% | $1.98M | 0.19% | Jun 30, 2026 |
| Vanguard Health Care Index Fund | 334,797 | 0.17% | $2.20M | 0.01% | May 31, 2026 |
| Emerald Growth Fund | 308,183 | 0.16% | $2.18M | 0.15% | Apr 30, 2026 |
| SmallCap Growth Fund I | 305,452 | 0.16% | $1.68M | 0.07% | Jul 31, 2026 |
| Driehaus Micro Cap Growth Fund | 234,606 | 0.12% | $1.36M | 0.23% | Jun 30, 2026 |
| Vanguard Explorer Fund | 211,153 | 0.11% | $1.16M | 0.01% | Jul 31, 2026 |
| Dimensional U.S. Core Equity 2 ETF | 195,202 | 0.10% | $1.08M | 0.00% | Jul 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Paul Bolno | President and CEO, Director | 275,520 | 0.14% | Feb 11, 2026 |
| Erik Ingelsson | Chief Scientific Officer | 87,864 | 0.04% | Apr 17, 2026 |
| Christopher I. Wright | Chief Medical Officer | 45,625 | 0.02% | Apr 17, 2026 |
| Chris Francis | See Remarks | 61,867 | 0.03% | Feb 27, 2026 |
| Kyle Moran | Chief Financial Officer | 134,385 | 0.07% | Feb 11, 2026 |
| Chandra Vargeese | See Remarks | 408,246 | 0.21% | Feb 11, 2026 |
| Heidi L. Wagner | Director | 51,930 | 0.03% | Aug 13, 2026 |
| Aik Na Tan | Director | 24,968 | 0.01% | Aug 13, 2026 |
| Adrian Rawcliffe | Director | 0 | – | Aug 13, 2026 |
| Ken Takanashi | Director | 9,626,487 | 4.89% | Aug 13, 2026 |
| Capital Healthcare Fund LP RA | Director, 10% owner | 28,815 | 0.01% | Mar 30, 2026 |
| Rajeev M. Shah | Director, 10% owner | – | – | Mar 30, 2026 |
| Peter Kolchinsky | Director, 10% owner | 19,202,009 | 9.74% | Mar 30, 2026 |
| Ra Capital Management, L.P. | Director, 10% owner | 26,975,505 | 13.69% | Mar 30, 2026 |
| Gregory L. Verdine | Director | 275,217 | 0.14% | Dec 10, 2025 |
| Mark Corrigan | Director | 28,815 | 0.01% | Dec 10, 2025 |
| Christian O. Henry | Director | 12,700 | 0.01% | Dec 10, 2025 |
| plc GSK | 10% owner | 18,245,691 | 9.26% | Dec 15, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Adrian Rawcliffe Director | Aug 12, 2026 | Sale(10b5-1 plan) | −12,700 | $5.29 | $67.18K | 0 |
| Aik Na Tan Director | Aug 11, 2026 | Sale(10b5-1 plan) | −432 | $6.01 | $2.60K | 24,968 |
| Heidi L. Wagner Director | Aug 11, 2026 | Option exercise | +7,000 | $5.97 | $41.79K | 51,930 |
| Heidi L. Wagner Director | Aug 11, 2026 | Sale(10b5-1 plan) | −7,000 | $6.01 | $42.07K | 44,930 |
| Ken Takanashi Director | Aug 11, 2026 | Sale(10b5-1 plan) | −3,864 | $6.01 | $23.22K | 20,079 |
| Ra Capital Management, L.P. Director, 10% owner | Mar 30, 2026 | Buy | +971,091 | $6.50 | $6.31M | 26,975,505 |
| Ra Capital Management, L.P. Director, 10% owner | Mar 27, 2026 | Buy | +2,495,623 | $6.43 | $16.05M | 26,004,414 |
| Ra Capital Management, L.P. Director, 10% owner | Mar 26, 2026 | Buy | +4,954,558 | $6.06 | $30.02M | 23,157,567 |
| Ra Capital Management, L.P. Director, 10% owner | Mar 26, 2026 | Buy | +351,224 | $6.38 | $2.24M | 23,508,791 |
| Ken Takanashi Director | Mar 23, 2026 | Conversion | +3,901,348 | – | – | 9,606,408 |
| Chris Francis See Remarks | Feb 26, 2026 | Sale(10b5-1 plan) | −15,294 | $15.00 | $229.41K | 61,867 |
| Chris Francis See Remarks | Feb 26, 2026 | Option exercise | +15,294 | $4.75 | $72.65K | 77,161 |
| Chris Francis See Remarks | Feb 26, 2026 | Sale(10b5-1 plan) | −17,900 | $15.09 | $270.11K | 61,867 |
| Chris Francis See Remarks | Feb 26, 2026 | Option exercise | +17,900 | $3.87 | $69.27K | 79,767 |
| Paul Bolno President and CEO, Director | Feb 9, 2026 | Sale | −10,480 | $13.45 | $140.96K | 275,520 |
| Kyle Moran Chief Financial Officer | Feb 9, 2026 | Sale | −3,588 | $13.45 | $48.26K | 134,385 |
| Chandra Vargeese See Remarks | Feb 9, 2026 | Sale | −3,228 | $13.45 | $43.42K | 408,246 |
| Chris Francis See Remarks | Feb 9, 2026 | Sale | −1,883 | $13.45 | $25.33K | 61,867 |
| Paul Bolno President and CEO, Director | Feb 5, 2026 | Award | +165,000 | – | – | 286,000 |
| Kyle Moran Chief Financial Officer | Feb 5, 2026 | Award | +45,625 | – | – | 137,973 |
| Chandra Vargeese See Remarks | Feb 5, 2026 | Award | +45,625 | – | – | 411,474 |
| Chris Francis See Remarks | Feb 5, 2026 | Award | +38,750 | – | – | 63,750 |
| Chris Francis See Remarks | Jan 2, 2026 | Sale(10b5-1 plan) | −8,080 | $15.92 | $128.63K | 26,295 |
| Chris Francis See Remarks | Jan 2, 2026 | Option exercise | +9,375 | $3.14 | $29.44K | 34,375 |
| Chris Francis See Remarks | Jan 2, 2026 | Sale(10b5-1 plan) | −1,295 | $16.70 | $21.63K | 25,000 |
| plc GSK 10% owner | Dec 11, 2025 | Buy | +1,470,000 | $19.00 | $27.93M | 18,245,691 |
| Kyle Moran Chief Financial Officer | Dec 9, 2025 | Option exercise | +36,000 | $8.17 | $294.12K | 125,218 |
| Kyle Moran Chief Financial Officer | Dec 9, 2025 | Sale(10b5-1 plan) | −36 | $20.25 | $729 | 89,218 |
| Kyle Moran Chief Financial Officer | Dec 9, 2025 | Option exercise | +50,000 | $10.48 | $524.00K | 139,218 |
| Kyle Moran Chief Financial Officer | Dec 9, 2025 | Sale(10b5-1 plan) | −50,000 | $20.03 | $1.00M | 90,365 |
| Kyle Moran Chief Financial Officer | Dec 8, 2025 | Sale(10b5-1 plan) | −50,000 | $18.00 | $900.00K | 89,218 |
| Kyle Moran Chief Financial Officer | Dec 8, 2025 | Option exercise | +100,000 | $3.14 | $314.00K | 189,218 |
| Kyle Moran Chief Financial Officer | Dec 8, 2025 | Sale(10b5-1 plan) | −50,000 | $15.00 | $750.00K | 139,218 |
| Kyle Moran Chief Financial Officer | Dec 8, 2025 | Sale(10b5-1 plan) | −50,000 | $13.20 | $660.00K | 89,218 |
| Kyle Moran Chief Financial Officer | Dec 8, 2025 | Option exercise | +50,000 | $4.75 | $237.50K | 139,218 |
| Kyle Moran Chief Financial Officer | Dec 8, 2025 | Sale(10b5-1 plan) | −60,000 | $13.20 | $792.00K | 89,218 |
| Kyle Moran Chief Financial Officer | Dec 8, 2025 | Option exercise | +60,000 | $2.83 | $169.80K | 149,218 |
| Chris Francis See Remarks | Dec 8, 2025 | Option exercise | +22,500 | $2.83 | $63.68K | 47,500 |
| Chris Francis See Remarks | Dec 8, 2025 | Sale(10b5-1 plan) | −50,000 | $16.00 | $800.00K | 25,000 |
| Chris Francis See Remarks | Dec 8, 2025 | Option exercise | +50,000 | $10.48 | $524.00K | 75,000 |
| Chris Francis See Remarks | Dec 8, 2025 | Sale(10b5-1 plan) | −122,349 | $14.20 | $1.74M | 25,000 |
| Chris Francis See Remarks | Dec 8, 2025 | Option exercise | +122,349 | $4.75 | $581.16K | 147,349 |
| Chris Francis See Remarks | Dec 8, 2025 | Sale(10b5-1 plan) | −17,900 | $15.00 | $268.50K | 25,000 |
| Chris Francis See Remarks | Dec 8, 2025 | Option exercise | +17,900 | $3.87 | $69.27K | 42,900 |
| Chris Francis See Remarks | Dec 8, 2025 | Sale(10b5-1 plan) | −37,500 | $14.08 | $528.00K | 25,000 |
| Chris Francis See Remarks | Dec 8, 2025 | Option exercise | +37,500 | $3.14 | $117.75K | 62,500 |
| Chris Francis See Remarks | Dec 8, 2025 | Sale(10b5-1 plan) | −9,375 | $15.00 | $140.63K | 25,000 |
| Chris Francis See Remarks | Dec 8, 2025 | Option exercise | +9,375 | $3.14 | $29.44K | 34,375 |
| Chris Francis See Remarks | Dec 8, 2025 | Sale(10b5-1 plan) | −45,882 | $14.50 | $665.29K | 25,000 |
| Chris Francis See Remarks | Dec 8, 2025 | Option exercise | +45,882 | $4.75 | $217.94K | 70,882 |
| Chris Francis See Remarks | Dec 8, 2025 | Sale(10b5-1 plan) | −107,400 | $14.56 | $1.56M | 25,000 |
| Chris Francis See Remarks | Dec 8, 2025 | Option exercise | +107,400 | $3.87 | $415.64K | 132,400 |
| Chris Francis See Remarks | Dec 8, 2025 | Sale(10b5-1 plan) | −28,125 | $14.50 | $407.81K | 25,000 |
| Chris Francis See Remarks | Dec 8, 2025 | Option exercise | +28,125 | $3.14 | $88.31K | 53,125 |
| Chris Francis See Remarks | Dec 8, 2025 | Sale(10b5-1 plan) | −22,500 | $14.08 | $316.80K | 25,000 |
| Mark Corrigan Director | Dec 8, 2025 | Sale(10b5-1 plan) | −6,515 | $14.07 | $91.67K | 28,815 |
| Mark Corrigan Director | Dec 8, 2025 | Sale(10b5-1 plan) | −9,600 | $13.09 | $125.66K | 35,330 |
| Adrian Rawcliffe Director | Dec 8, 2025 | Option exercise | +42,000 | $5.97 | $250.74K | 54,700 |
| Adrian Rawcliffe Director | Dec 8, 2025 | Sale(10b5-1 plan) | −42,000 | $15.00 | $630.00K | 12,700 |
| Aik Na Tan Director | Dec 8, 2025 | Sale(10b5-1 plan) | −7,494 | $15.00 | $112.41K | 25,400 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| G. Rawcliffe Adrian Director | Aug 12, 2026 | 12,700 | $64.07K | Aug 12, 2026 | Restricted Stock Units |
| L. Wagner Heidi Director | Aug 11, 2026 | 7,000 | $42.49K | Aug 11, 2026 | Exercise of Stock Options |
| Moran Kyle Officer | Feb 9, 2026 | 3,564 | $47.94K | Feb 9, 2026 | Restricted Stock Unit Vesting |
| Francis Chris Officer | Feb 9, 2026 | 1,870 | $25.15K | Feb 9, 2026 | Restricted Stock Unit Vesting |
| Bolno Paul Officer | Feb 9, 2026 | 10,411 | $140.03K | Feb 9, 2026 | Restricted Stock Unit Vesting |
| Moran Kyle Officer | Dec 9, 2025 | 86,000 | $1.59M | Dec 9, 2025 | Exercise of Stock Options |
| Family Trust Henry Affiliate | Dec 8, 2025 | 93,445 | $1.73M | Dec 8, 2025 | Transfer, acquired via Stock Option Exercise |
| L. Wagner Heidi Director | Dec 8, 2025 | 14,000 | $104.86K | Dec 8, 2025 | Exercise of Stock Options |
| Moran Kyle Officer | Dec 8, 2025 | 210,000 | $1.57M | Dec 8, 2025 | Exercise of Stock Options |
| Francis Christopher Officer | Dec 8, 2025 | 483,602 | $3.62M | Dec 8, 2025 | Exercise of Stock Options |
| Verdine Gregory Director | Dec 8, 2025 | 20,000 | $149.80K | Dec 8, 2025 | Previously Exercised Stock Options |
| Rawcliffe Adrian Director | Dec 8, 2025 | 42,000 | $314.58K | Dec 8, 2025 | Exercise of Stock Options |
| Na Tan Aik Director | Dec 8, 2025 | 134,218 | $1.82M | Dec 8, 2025 | Stock Option Exercise |
| Corrigan Mark Director | Dec 8, 2025 | 16,115 | $120.70K | Dec 8, 2025 | Restricted Stock Units |
| Rawcliffe Adrian Director | Nov 13, 2025 | 16,115 | $112.08K | Nov 13, 2025 | Restricted Stock Units |