Hedge fund exits entire 421,488-share position after Wave Life Sciences underperforms the S&P 500 by 20 percentage points.
Exome Asset Management liquidated its entire 421,488-share stake in Wave Life Sciences (NASDAQ:WVE) on May 15, 2026, for an estimated $5.49 million. The sale follows a quarter-end valuation drop of $7.17 million, reflecting both trading activity and price declines.
Wave Life Sciences shares closed at $6.90 on May 14, 2026, up 8% over the past year but trailing the S&P 500 by nearly 20 percentage points. The position previously represented 3.4% of Exome’s assets under management.
Exome’s top holdings post-exit 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.