The hedge fund liquidated 421,488 shares after Wave Life Sciences underperformed the S&P 500 by 20 percentage points over the past year.
Exome Asset Management sold its entire 421,488-share stake in Wave Life Sciences (NASDAQ:WVE) for an estimated $5.49 million, based on first-quarter average pricing. The exit follows a quarter-end valuation drop of $7.17 million for the position, reflecting both trading activity and price declines.
Wave Life Sciences shares closed at $6.90 on May 14, 2026, up 8% year-over-year but trailing the S&P 500 by nearly 20 percentage points. The stake represented 3.4% of Exome’s assets under management before the sale.
Exome’s top holdings now include PRAX ($14.65 million), COGT ($10.72 million), and ELVN ($8.63 million). Wave Life Sciences focuses on oligonucleotide therapies for neurological and genetic disorders.