Wave Life Sciences

WVE • NASDAQ

Wave Life Sciences is a biotechnology company in the healthcare sector on NASDAQ, led by Paul B. Bolno, with a market cap of $3.1B. As of Q3 2025, 90% of shares are held by 187 institutional investors, with RA CAPITAL MANAGEMENT, LLC as the largest holder at 11.43%.

President and Chief Executive OfficerPaul B. Bolno

Market Cap$3.1B

Biotechnology

Healthcare

Employees268.0

Websitewavelifesciences.com

Country

United States of America

Overview

Overview of institutional ownership in WVE as of Q3 2025 with a market cap of $1.2B

All Institutions

Institutions: 187
Value Held: $1.1B
Shares Held: 143.7M
Avg Position: $5.6M
Median Position: $392.4K

Hedge Funds

Hedge Funds: 34
Value Held: $417.4M
Shares Held: 57.0M
Avg Position: $12.3M
Median Position: $1.9M

Ownership Breakdown

Institutional (non-HF)

54.41%

$634.2M

Hedge Funds

35.81%

$417.4M

Retail & Other

9.78%

$114.0M

Based on market cap of $1.2B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in WVE as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
RA CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	Michael Saulnier CFO	$133.2M 1.65% of portfolio	11.43% 18.2M shares	Q4 2015 Held for 9y 11m	$8.1B
A ADAGE CAPITAL PARTNERS GP LLC Institution	-	$106.6M 0.17% of portfolio	9.15% 14.6M shares	Q3 2021 Held for 4y 2m	$63.0B
B BlackRock, Inc. Institution	-	$76.4M 0.00% of portfolio	6.55% 10.4M shares	Q2 2016 Held for 9y 5m	$5.67T
M MAVERICK CAPITAL LTD Hedge Fund•Long/Short	Jessica Opland Managing Partner	$61.4M 0.81% of portfolio	5.27% 8.4M shares	Q1 2021 Held for 4y 8m	$7.6B
DRIEHAUS CAPITAL MANAGEMENT LLC Hedge Fund•Event Driven	Stephen Thomas Weber CEO	$46.1M 0.33% of portfolio	3.96% 6.3M shares	Q4 2023 Held for 1y 11m	$13.9B
M28 Capital Management LP Hedge Fund•Long/Short	Christopher Michael Taliercio President	$41.5M 60.97% of portfolio	3.56% 5.7M shares	Q4 2021 Held for 3y 11m	$68.0M
FMR LLC Institution	-	$37.6M 0.00% of portfolio	3.22% 5.1M shares	Q1 2022 Held for 3y 8m	$1.92T
K Kynam Capital Management, LP Hedge Fund•Long/Short	Jared Joseph Keller COO	$33.4M 2.49% of portfolio	2.86% 4.6M shares	Q4 2021 Held for 3y 11m	$1.3B
6 683 Capital Management, LLC Hedge Fund•Long/Short	Ari Jonathan Zweiman Managing Partner	$30.4M 2.87% of portfolio	2.61% 4.2M shares	Q2 2021 Held for 4y 5m	$1.1B
B Bellevue Group AG Institution	-	$30.0M 0.62% of portfolio	2.57% 4.1M shares	Q2 2019 Held for 6y 5m	$4.8B

Net Capital Flow

Institutional buying and selling activity for WVE in Q3 2025

Traded: +$38.0M
Buyers: 93
Sellers: 78
Total Bought: +$117.7M
Total Sold: −$79.6M
Avg Position: $5.1M

Biggest Buyers

Institution	Net Bought	Current Position
FMR LLC Institution	+$33.0M +4.5M shares	$37.6M 5.1M shares
FEDERATED INVESTORS INC /PA/ Long Only Manager	+$27.5M +3.8M shares	$27.5M 3.8M shares
StemPoint Capital LP Hedge Fund•Long/Short	+$8.9M +1.2M shares	$15.4M 2.1M shares
GOLDMAN SACHS GROUP INC Institution	+$8.2M +1.1M shares	$15.6M 2.1M shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	+$4.9M +664.0K shares	$4.9M 664.0K shares
J JANE STREET GROUP, LLC Institution	+$4.5M +619.6K shares	$4.5M 619.6K shares
KENNEDY CAPITAL MANAGEMENT, INC. Long Only Manager	+$3.7M +506.4K shares	$4.0M 540.4K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$2.3M +319.8K shares	$4.1M 563.0K shares
A Avidity Partners Management LP Hedge Fund•Long/Short	+$2.2M +297.5K shares	$2.2M 297.5K shares
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	+$1.9M +262.8K shares	$5.3M 730.6K shares

Biggest Sellers

Institution	Net Sold	Current Position
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	−$8.4M −1.1M shares	$29.6M 4.0M shares
MORGAN STANLEY RIA/Wealth	−$7.6M −1.0M shares	$3.7M 507.3K shares
Artisan Partners Limited Partnership Long Only Manager	−$7.6M −1.0M shares	$9.0M 1.2M shares
JPMORGAN CHASE & CO Institution	−$5.2M −708.9K shares	$6.3M 860.1K shares
VOLORIDGE INVESTMENT MANAGEMENT, LLC Hedge Fund•Multi-Strategy	−$4.4M −683.2K shares	Sold Off 0 shares
PRIMECAP MANAGEMENT CO/CA/ Long Only Manager	−$4.2M −567.2K shares	$13.9M 1.9M shares
Q Qube Research & Technologies Ltd Institution	−$3.4M −463.4K shares	$936.8K 128.0K shares
A ADAGE CAPITAL PARTNERS GP LLC Institution	−$3.3M −448.7K shares	$106.6M 14.6M shares
Woodline Partners LP Hedge Fund•Long/Short	−$2.9M −452.1K shares	Sold Off 0 shares
LOOMIS SAYLES & CO L P Long Only Manager	−$2.9M −390.2K shares	$21.3M 2.9M shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited WVE in Q3 2025

New Positions: 11
New Value: $792.0K
Exited Positions: 16
Exited Value: $15.5M

New Positions

Institution	Position Value
Quantinno Capital Management LP Hedge Fund•Market Neutral	$329.8K 45.0K shares
Cresset Asset Management, LLC RIA/Wealth	$134.2K 18.3K shares
S SIG BROKERAGE, LP Institution	$131.5K 18.0K shares
HighTower Advisors, LLC RIA/Wealth	$89.0K 12.2K shares
Verdence Capital Advisors LLC RIA/Wealth	$86.2K 11.3K shares
Sontag Advisory, LLC RIA/Wealth	$9.9K 1.4K shares
O Optiver Holding B.V. Institution	$7.3K 1.0K shares
Smartleaf Asset Management LLC Long Only Manager	$2.1K 301.0 shares
V Versant Capital Management, Inc RIA/Wealth	$791.0 108.0 shares
ORG Partners LLC RIA/Wealth	$732.0 100.0 shares

Exited Positions

Institution	Previous Position
VOLORIDGE INVESTMENT MANAGEMENT, LLC Hedge Fund•Multi-Strategy	$4.4M 683.2K shares
Woodline Partners LP Hedge Fund•Long/Short	$2.9M 452.1K shares
PRINCIPAL FINANCIAL GROUP INC Institution	$2.0M 302.3K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	$1.9M 295.1K shares
D D. E. Shaw & Co., Inc. Institution	$1.8M 271.5K shares
Compass Rose Asset Management, LP Hedge Fund•Credit Arb	$650.0K 100.0K shares
S SUPERSTRING CAPITAL MANAGEMENT LP Hedge Fund•Long/Short	$456.6K 70.2K shares
Verition Fund Management LLC Hedge Fund•Multi-Strategy	$342.7K 52.7K shares
B Birchview Capital, LP Hedge Fund•Value	$262.0K 40.3K shares
SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC Hedge Fund•Distressed	$234.6K 36.1K shares

Options Activity

Institutions with the largest Call and Put options positions in WVE as of Q3 2025

Call Positions: 13
Call Value: $8.9M
Put Positions: 7
Put Value: $4.5M

Call Positions

Institution	Position Value
M MAVERICK CAPITAL LTD Hedge Fund•Long/Short	$2.8M 3.8K contracts
Caption Management, LLC Hedge Fund•Long/Short	$1.3M 1.8K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$805.9K 1.1K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$803.7K 1.1K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$732.0K 1.0K contracts
S SIG BROKERAGE, LP Institution	$549.0K 750.0 contracts
DLD Asset Management, LP Hedge Fund•Multi-Strategy	$519.3K 709.0 contracts
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	$488.2K 667.0 contracts
J JANE STREET GROUP, LLC Institution	$428.2K 585.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$138.3K 189.0 contracts

Put Positions

Institution	Position Value
J JANE STREET GROUP, LLC Institution	$3.6M 5.0K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$505.1K 690.0 contracts
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	$131.0K 179.0 contracts
W WOLVERINE TRADING, LLC Institution	$101.2K 142.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$101.0K 138.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$25.6K 35.0 contracts
Walleye Trading LLC RIA/Wealth	$3.7K 5.0 contracts

Most Committed Institutions

Institutions with WVE as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
M28 Capital Management LP Hedge Fund•Long/Short	Christopher Michael Taliercio President	60.97% $41.5M	3.56% 5.7M shares	Q4 2021 Held for 3y 11m	$68.0M
PFIZER INC Institution	Albert Bourla CEO	3.14% $13.7M	1.18% 1.9M shares	Q4 2024 Held for 11 months	$437.4M
StemPoint Capital LP Hedge Fund•Long/Short	Sean Chua Tan President	3.11% $15.4M	1.33% 2.1M shares	Q3 2024 Held for 1y 2m	$495.9M
6 683 Capital Management, LLC Hedge Fund•Long/Short	Ari Jonathan Zweiman Managing Partner	2.87% $30.4M	2.61% 4.2M shares	Q2 2021 Held for 4y 5m	$1.1B
K Kynam Capital Management, LP Hedge Fund•Long/Short	Jared Joseph Keller COO	2.49% $33.4M	2.86% 4.6M shares	Q4 2021 Held for 3y 11m	$1.3B
MPM Oncology Impact Management LP Institution	Christian Albrecht Wulf Von Schimmelmann Managing Partner	1.80% $11.0M	0.95% 1.5M shares	Q3 2024 Held for 1y 2m	$610.9M
RA CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	Michael Saulnier CFO	1.65% $133.2M	11.43% 18.2M shares	Q4 2015 Held for 9y 11m	$8.1B
Affinity Asset Advisors, LLC Hedge Fund•Long/Short	Jonathan Bo-Shing Chu Founder	1.56% $15.4M	1.32% 2.1M shares	Q1 2024 Held for 1y 8m	$983.0M
S Siren, L.L.C. Institution	-	1.13% $27.1M	2.32% 3.7M shares	Q3 2024 Held for 1y 2m	$2.4B
M MAVERICK CAPITAL LTD Hedge Fund•Long/Short	Jessica Opland Managing Partner	0.81% $61.4M	5.27% 8.4M shares	Q1 2021 Held for 4y 8m	$7.6B

Hedge Fund Spotlight

Discover hedge funds investing in WVE

RA CAPITAL MANAGEMENT, LLC

Hedge Fund • Long/Short

Portfolio ManagerMichael Saulnier

Portfolio Value: $8.1B
Positions: 66
Last Reported: Q3 2025

Sector Allocation

Position in Wave Life Sciences

Market Value: $133.2M
Shares Held: 18.2M
Portfolio Weight: 1.65%
Owned Since: 2015-Q4

Top Holding	Sector	Market Value	Weight
1 ASND Ascendis Pharma ASND	Unknown Unknown	$2.0B	25.39%
2 Rhythm Pharmaceuticals, Inc. RYTM	Biotechnology Healthcare	$573.8M	7.13%
3 Vaxcyte, Inc. PCVX	Biotechnology Healthcare	$431.0M	5.35%

View full profile

Wave Life Sciences

Overview

All Institutions

Hedge Funds

Ownership Breakdown

Biggest Investors

Net Capital Flow

Biggest Buyers

Biggest Sellers

Entry and Exit Activity

New Positions

Exited Positions

Options Activity

Call Positions

Put Positions

Most Committed Institutions

Hedge Fund Spotlight

Position in Wave Life Sciences

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