58% buyers of institutions opening or closing positions this quarter
13 more new buyers than exits, ownership fell 92.98 percentage points vs the prior quarter, and 2 well-known fund managers in the top 25.
58% buyers of institutions opening or closing positions this quarter
107.0% institutional ownership
M28 Capital Management portfolio allocation
Institutional ownership vs Biotechnology peers
No Form 4 insider transactions on file
Latest positioning in WVE across 13F flow, ownership shift, marquee holders, and holder-count growth.
Ranked by reported Q1 2026 13F market value
Share of total reported institutional value in WVE held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | RA CAPITAL MANAGEMENT, L.P. | 27.0M | $195.6M | +48.2% | 14.022% | 2.07% |
| 2 | GSK plc | 18.2M | $132.3M | 0.0% | 9.484% | 22.08% |
| 3 | BlackRock, Inc. | 14.1M | $102.4M | +11.6% | 7.338% | 0.00% |
| 4 | MAVERICK CAPITAL LTD | 11.3M | $82.1M | +17.2% | 5.883% | 0.95% |
| 5 | DRIEHAUS CAPITAL MANAGEMENT LLC | 5.4M | $39.4M | -17.5% | 2.823% | 0.29% |
| 6 | FEDERATED HERMES, INC. | 5.3M | $38.6M | +12.1% | 2.764% | 0.06% |
| 7 | FMR LLC | 5.2M | $37.6M | -65.7% | 2.699% | 0.00% |
| 8 | 683 Capital Management, LLC | 4.9M | $35.5M | +22.0% | 2.547% | 1.85% |
| 9 | PRIMECAP MANAGEMENT CO/CA/ | 4.8M | $35.0M | +18.0% | 2.512% | 0.03% |
| 10 | M28 Capital Management LP | 4.6M | $33.3M | -19.0% | 2.385% | 61.83% |
| 11 | STATE STREET CORP | 3.7M | $26.6M | +22.6% | 1.910% | 0.00% |
| 12 | GEODE CAPITAL MANAGEMENT, LLC | 3.6M | $26.0M | +12.9% | 1.860% | 0.00% |
| 13 | CITADEL ADVISORS LLC | 2.8M | $20.4M | +19.7% | 1.465% | 0.00% |
| 14 | Siren, L.L.C. | 2.5M | $17.8M | 0.0% | 1.274% | 0.49% |
| 15 | Squarepoint Ops LLC | 1.9M | $13.9M | +116.4% | 0.994% | 0.02% |
| 16 | TWO SIGMA INVESTMENTS, LP | 1.9M | $13.6M | +150.6% | 0.976% | 0.01% |
| 17 | First Light Asset Management, LLC | 1.8M | $13.4M | -0.5% | 0.959% | 1.20% |
| 18 | MARSHALL WACE, LLP | 1.8M | $13.0M | — | 0.930% | 0.01% |
| 19 | PFIZER INC | 1.9M | $11.9M | 0.0% | 0.975% | 5.00% |
| 20 | VANGUARD CAPITAL MANAGEMENT LLC | 1.6M | $11.7M | — | 0.838% | 0.00% |
| 21 | Affinity Asset Advisors, LLC | 1.4M | $10.2M | -48.1% | 0.729% | 0.52% |
| 22 | GOLDMAN SACHS GROUP INC | 1.4M | $10.0M | -51.5% | 0.719% | 0.00% |
| 23 | MORGAN STANLEY | 1.4M | $9.9M | +232.2% | 0.708% | 0.00% |
| 24 | RTW INVESTMENTS, LP | 1.4M | $9.8M | 0.0% | 0.702% | 0.10% |
| 25 | SCHRODER INVESTMENT MANAGEMENT GROUP | 1.4M | $9.5M | +43.3% | 0.749% | 0.01% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). “% of Fund” shows how much of that investor’s total 13F portfolio is invested in WVE — a direct measure of their conviction.
Filings activity in WVE during Q1 2026, grouped by how each filer changed its position.
8 quarters of 13F filings · Δ columns show change vs prior quarter
| Quarter | Inst. Holders | Δ Holders | Ownership % | Δ Ownership | Total 13F Value | Δ Value |
|---|---|---|---|---|---|---|
| Q1 2026 | 227 | +6.1% | 107.01% | 92.98 pp | $1.20B | 61% |
| Q4 2025 | 214 | +18% | 199.99% | +116.85 pp | $3.03B | +197% |
| Q3 2025 | 182 | +2.8% | 83.14% | +12.47 pp | $1.02B | +18% |
| Q2 2025 | 177 | 8.3% | 70.67% | 19.41 pp | $867M | 14% |
| Q1 2025 | 193 | +7.2% | 90.08% | 35.09 pp | $1.01B | 34% |
| Q4 2024 | 180 | +14% | 125.17% | +48.86 pp | $1.54B | +64% |
| Q3 2024 | 158 | +11% | 76.31% | +38.77 pp | $937M | +103% |
| Q2 2024 | 142 | — | 37.54% | — | $461M | — |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Δ columns compare to the immediately prior filed quarter.
No recent Form 4 insider transactions on file for WVE.
Quick answers to the most common questions about buying WVE stock.
Based on Q1 2026 13F filings, institutional ownership of Wave Life Sciences Ltd. stands at 107.0%, held across 227 reporting institutions.
RA CAPITAL MANAGEMENT, L.P. is the largest reported institutional holder of WVE, with approximately 26,975,505 shares worth $0.20B as of Q1 2026.
Yes — 2 widely-followed marquee investors appear among the top 25 institutional holders of WVE, including CITADEL ADVISORS LLC, TWO SIGMA INVESTMENTS, LP.
Our composite Smart Money Score for WVE is 47 out of 100 (Neutral). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
49 institutions opened new positions in WVE during Q1 2026, while 36 fully exited. 28 added to existing positions and 147 trimmed.
WVE institutional ownership fell by 92.98 percentage points quarter-over-quarter, with a net change of +13 holders.
The top 10 institutions account for 61.2% of all reported 13F value in WVE, and the top 25 account for 79.4%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.