WVE at a glance
Wave Life Sciences Ltd. (WVE, SEC CIK 1631574) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on July 30, 2026, an 8-K current report on July 30, 2026 and Form 4 insider filings as recently as August 13, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Wave Life Sciences Ltd. (WVE) reported revenue of $42.7 million (down 60.5% from FY2024) and a net loss of $204.4 million. Diluted EPS was -$1.21.
- As of June 30, 2026, 28 institutional investment managers tracked by SignalX reported holding Wave Life Sciences Ltd. (WVE) shares worth $329.9 million in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Rawcliffe Adrian on August 12, 2026 of 12,700 shares at $5.29 per share.
- In the last 90 days, WVE insiders reported 0 open-market purchases ($0) and 4 open-market sales ($135K) on Form 4, a net sale of $135K.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $42.7M
- −60.5% vs prior year
- Insiders · 90 days
- 0 buys · 4 sells
- Net −$135K
- 13F holders
- 28 funds
- $329.9M · +1 vs prior quarter
- Latest 8-K
- Jul 30, 2026
- Item 2.02 · Item 7.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business model: Clinical-stage biotech developing RNA medicines using proprietary PRISM® platform combining multi-modal RNA-targeting modalities and chemistry innovations
- New emphasis on obesity program WVE-007 showing positive Phase 1 data with durable fat loss and muscle preservation, supporting once or twice yearly dosing
- Strategic focus shift to RNA editing (AIMers) for rare genetic diseases like AATD (WVE-006) and PNPLA3 liver disease (WVE-008), advancing first-in-class oligonucleotide therapies
- Clinical pipeline update: WVE-N531 for Duchenne muscular dystrophy granted FDA Rare Pediatric Disease and Orphan Drug Designations; FORWARD-53 trial showed functional muscle improvements
- Noteworthy: Accelerated regulatory engagement initiated for WVE-006 AATD program with potential accelerated approval pathway feedback expected mid-2026
Risk Factors
- Cybersecurity risk oversight by Audit Committee with quarterly updates on incidents and mitigation activities
- Executive team including Data Security Officer and CFO with 50+ years combined cybersecurity experience managing risk
- Incident response plan and reporting thresholds ensure timely Board-level awareness of significant cybersecurity breaches
Management Discussion & Analysis
- Revenue $42.7M in 2025 vs $108.3M in 2024, down $65.6M YoY due to Takeda agreement termination offset by GSK revenue increase
- Operating loss widened to $215.4M in 2025 from $110.4M in 2024; operating margin -503.8% in 2025 vs -102.0% in 2024 (calculated as loss/ revenue)
- Best segment R&D expenses: Other R&D including PNPLA3 and preclinical up $27.8M to $139.2M in 2025; worst segment HD program down $9.1M to $2.7M in 2025
- Cash flow: Operating cash outflow $187.5M in 2025; financing inflows $488.2M driven by $377.8M public offering and $94.6M ATM sales; capex $0.7M in 2025
- Outlook: Cash balance $602.1M at end 2025; expects funding sufficiency for 12+ months; notes risks in raising future capital tied to market conditions and business strategy
AI summary of the WVE 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Risk Factors
- No risk-factors section provided; supplied text covers Items 2–6 and contains no 10-K comparison
- Executive-share-sale risk: CEO plan permits sale of up to 2,924,270 ordinary shares through December 31, 2026
- Insider-selling compliance risk: four officers adopted Rule 10b5-1 plans during the quarter
- Transaction risk: April 15, 2026 implementation agreement filed as Exhibit 2.1
- No liquidity, debt, currency, competitive, operational, or regulatory risk details disclosed in provided text
AI summary of the WVE 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 2.02: Results of Operations and Financial Condition
- Q2 2026 financial results announced for quarter ended June 30, 2026
- Full earnings details furnished in Exhibit 99.1 for investor review
Item 7.01: Regulation FD Disclosure
- Updated corporate presentation furnished July 30, 2026, providing investors with current business and pipeline information
- Exhibit 99.2 contains the presentation and should be reviewed for substantive operational or clinical updates
Item EX-99.1: Item EX-99.1
- Q2 2026 results: revenue $2.3M, R&D $51.3M, net loss $69.4M versus $50.5M loss
- Cash, equivalents, and marketable securities $490.6M, supporting operations into 3Q 2028
Item 5.07: Submission of Matters to a Vote of Security Holders
- Shareholders overwhelmingly approved Wave’s Singapore-to-U.S. redomiciliation proposal
- 87 shareholders voted for, none against; 155,190,836 shares for versus 78,429 against
Item 7.01: Regulation FD Disclosure
- Regulation FD filing incorporates Wave Life Sciences’ May 18, 2026 press release as Exhibit 99.1
- Investor-relevant details reside in the incorporated press release, which should be reviewed for the underlying disclosure
AI summaries of WVE 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for WVE
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Rawcliffe Adrian | Sell | Aug 12, 2026 | 12,700 | $5.29 |
| Wagner Heidi L | M | Aug 11, 2026 | 7,000 | $5.97 |
| Wagner Heidi L | M | Aug 11, 2026 | 7,000 | - |
| Wagner Heidi L | Sell | Aug 11, 2026 | 7,000 | $6.01 |
| Tan Aik Na | Sell | Aug 11, 2026 | 432 | $6.01 |
| TAKANASHI KEN | Sell | Aug 11, 2026 | 3,864 | $6.01 |
| RA CAPITAL MANAGEMENT, L.P. | Buy | Mar 30, 2026 | 971,091 | $6.50 |
| RA CAPITAL MANAGEMENT, L.P. | Buy | Mar 27, 2026 | 2,495,623 | $6.43 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $108.3M | $42.7M |
| Operating Income | - | -$110.4M | -$215.4M |
| Net Income | -$57.5M | -$97.0M | -$204.4M |
| Op. Margin | - | -101.9% | -504.1% |
| Net Margin | - | -89.6% | -478.3% |
| Balance Sheet | |||
| Total Assets | $274.9M | $352.2M | $638.5M |
| Equity | - | $209.5M | $518.4M |
| ROE | - | -46.3% | -39.4% |
| Per Share | |||
| EPS | $-0.54 | $-0.70 | $-1.21 |
| Cash Flow | |||
| Operating CF | - | -$151.0M | -$187.5M |
| CapEx | $1.1M | $938K | $718K |
Source: XBRL data in Wave Life Sciences Ltd. (WVE)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate WVE share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 28 | $329.9M |
| Q1 2026 | 27 | $350.8M |
| Q4 2025 | 26 | $933.2M |
| Q3 2025 | 25 | $259.8M |
| Q2 2025 | 25 | $210.5M |
| Q1 2025 | 24 | $127.4M |
| Q4 2024 | 20 | $165.9M |
| Q3 2024 | 14 | $49.2M |
- BlackRock+5.09M (+36%)
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- AQR Capital Management+1.20M (+265%)
- State Street Corp+1.17M (+32%)
- T. Rowe Price Group−6.90M (-79%)
- Citadel Advisors LLC−1.72M (-78%)
- Citigroup−376.4K (-75%)
- FMR LLC (Fidelity)−270.3K (-5%)
- JPMorgan Chase & Co−52.0K (-8%)
- Dimensional Fund Advisors+1.71M
- Allstate+50.6K
- Ameriprise Financial−40.4K
Source: 13F-HR filings on SEC EDGAR (aggregated from 189 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
WVE filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Aug 13, 2026 | - | - | - |
| 4 | Aug 13, 2026 | - | - | - |
| 4 | Aug 13, 2026 | - | - | - |
| 4 | Aug 13, 2026 | - | - | - |
| 8-K | Jul 30, 2026 | - | Analysis | - |
| 10-Q | Jul 30, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Jun 26, 2026 | - | Analysis | - |
| 8-K | May 18, 2026 | - | Analysis | |
| 10-Q | Apr 28, 2026 | Mar 31, 2026 | Analysis | |
| 8-K | Apr 28, 2026 | - | Analysis | - |
| 8-K | Apr 21, 2026 | - | Analysis | - |
| 8-K | Apr 15, 2026 | - | Analysis | - |
| 4 | Mar 30, 2026 | - | - | - |
| 4 | Mar 26, 2026 | - | - | - |
| 8-K | Mar 26, 2026 | - | - | - |
| 8-K | Feb 26, 2026 | - | Analysis | - |
| 10-K | Feb 26, 2026 | Dec 31, 2025 | Analysis | |
| 4 | Feb 11, 2026 | - | - | |
| 4 | Feb 11, 2026 | - | - | |
| 4 | Feb 11, 2026 | - | - | |
| 4 | Feb 11, 2026 | - | - | |
| SC 13G | Feb 5, 2026 | - | - | |
| 8-K | Feb 2, 2026 | - | - | |
| 8-K | Jan 12, 2026 | - | - | |
| 4 | Jan 6, 2026 | - | - |
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WVE SEC filings: frequently asked questions
Are WVE insiders buying or selling?
In the last 90 days, Wave Life Sciences Ltd. (WVE) officers, directors and 10% owners reported no open-market purchases and 4 open-market sales worth $135,072 by 4 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold WVE stock?
As of June 30, 2026, the largest Wave Life Sciences Ltd. (WVE) holders among the 13F filers tracked by SignalX were BlackRock ($111.6 million), FMR LLC (Fidelity) ($28.6 million), State Street Corp ($28.1 million), Two Sigma Investments ($21.5 million), Morgan Stanley ($14.1 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was WVE's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Wave Life Sciences Ltd. (WVE) reported revenue of $42.7 million (down 60.5% from FY2024) and a net loss of $204.4 million. Diluted EPS was -$1.21. The figures come from the XBRL data in the 10-K.
What are the main risks in WVE's latest 10-K?
In the 10-K filed February 26, 2026, Wave Life Sciences Ltd. (WVE) flagged: Cybersecurity risk oversight by Audit Committee with quarterly updates on incidents and mitigation activities. Executive team including Data Security Officer and CFO with 50+ years combined cybersecurity experience managing risk. (AI summary of the Risk Factors section.)
What did WVE report in its latest 8-K?
Wave Life Sciences Ltd. (WVE) filed an 8-K on July 30, 2026 reporting Item 2.02 (Results of Operations and Financial Condition) and Item 7.01 (Regulation FD Disclosure). Q2 2026 financial results announced for quarter ended June 30, 2026.
What are the latest WVE SEC filings?
Wave Life Sciences Ltd. (WVE) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on July 30, 2026, an 8-K current report on July 30, 2026 and a Form 4 insider filing on August 13, 2026.
What is WVE's SEC CIK number?
Wave Life Sciences Ltd. (WVE)'s SEC Central Index Key (CIK) is 1631574. EDGAR lists every WVE filing under that number.
Ask anything about WVE
The research agent reads WVE's filings, financials, insider trades and 13F holders, then answers with sources.