Wave Life Sciences Ltd. (NASDAQ:WVE) Shares Sold by New York State Common Retirement Fund

Wave Life Sciences Ltd. is a biotechnology company that focuses on developing and commercializing therapies for rare genetic diseases. The company's flagship product is an investigational gene therapy for the treatment of Duchenne muscular dystrophy, a rare and progressive muscle disorder that affects boys.

The New York State Common Retirement Fund (NYSCRF) is the largest public pension fund in the United States, with assets under management of over $200 billion. The NYSCRF invests on behalf of more than 1 million members and retirees of the New York State and Local Retirement System.

On March 31, 2023, the NYSCRF announced that it had sold approximately 4.5 million shares of Wave Life Sciences Ltd.'s common stock for a total price of $79.8 million. The sale was made as part of the fund's ongoing efforts to diversify its investment portfolio and reduce its exposure to any single company or sector.

The NYSCRF had previously invested in Wave Life Sciences Ltd. through its venture capital arm, which had purchased approximately 10 million shares of the company's common stock for a total price of $200 million in October 2021. The sale of these shares was made as part of the fund's ongoing efforts to manage its risk and optimize its returns.

It is worth noting that the NYSCRF's investment decisions are made by a team of professional investors who carefully evaluate each potential investment opportunity based on a range of factors, including the company's financial performance, growth prospects, and competitive landscape. The fund's goal is to generate strong long-term returns for its members and retirees while also managing risk and maintaining diversification across its portfolio.