Adrian Rawcliffe Sells 42,000 Shares of WAVE Life Sciences (NASDAQ:WVE) Stock

by · The Cerbat Gem

WAVE Life Sciences Ltd. (NASDAQ:WVE – Get Free Report) Director Adrian Rawcliffe sold 42,000 shares of the firm’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $15.00, for a total value of $630,000.00. Following the completion of the sale, the director owned 12,700 shares in the company, valued at approximately $190,500. This represents a 76.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Adrian Rawcliffe also recently made the following trade(s):

  • On Thursday, November 13th, Adrian Rawcliffe sold 16,115 shares of WAVE Life Sciences stock. The stock was sold at an average price of $6.79, for a total value of $109,420.85.

WAVE Life Sciences Stock Performance

WVE opened at $16.75 on Friday. WAVE Life Sciences Ltd. has a one year low of $5.28 and a one year high of $21.73. The company has a market cap of $2.80 billion, a P/E ratio of -22.33 and a beta of -1.72. The business’s 50-day simple moving average is $8.47 and its 200-day simple moving average is $7.96.

WAVE Life Sciences (NASDAQ:WVE – Get Free Report) last posted its earnings results on Monday, November 10th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The business had revenue of $7.61 million for the quarter, compared to analysts’ expectations of $9.85 million. WAVE Life Sciences had a negative return on equity of 75.61% and a negative net margin of 111.64%. As a group, analysts predict that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Canaccord Genuity Group increased their target price on shares of WAVE Life Sciences from $19.00 to $40.00 and gave the company a “buy” rating in a research report on Monday. Wedbush upped their price objective on shares of WAVE Life Sciences from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, November 11th. Morgan Stanley set a $28.00 price objective on WAVE Life Sciences in a report on Monday. HC Wainwright reiterated a “buy” rating and set a $22.00 target price on shares of WAVE Life Sciences in a research report on Wednesday, September 3rd. Finally, Cantor Fitzgerald boosted their target price on WAVE Life Sciences from $12.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, WAVE Life Sciences has a consensus rating of “Moderate Buy” and an average price target of $27.46.

Read Our Latest Report on WAVE Life Sciences

Institutional Trading of WAVE Life Sciences

A number of hedge funds have recently added to or reduced their stakes in WVE. CIBC Bancorp USA Inc. purchased a new position in shares of WAVE Life Sciences in the 3rd quarter valued at approximately $87,000. Polar Capital Holdings Plc lifted its holdings in shares of WAVE Life Sciences by 5.9% during the third quarter. Polar Capital Holdings Plc now owns 1,062,276 shares of the company’s stock worth $7,776,000 after purchasing an additional 58,776 shares during the period. HighVista Strategies LLC grew its position in WAVE Life Sciences by 64.8% in the 3rd quarter. HighVista Strategies LLC now owns 59,261 shares of the company’s stock valued at $434,000 after buying an additional 23,303 shares during the last quarter. Bank of America Corp DE increased its stake in WAVE Life Sciences by 3.0% in the 3rd quarter. Bank of America Corp DE now owns 665,150 shares of the company’s stock valued at $4,869,000 after buying an additional 19,590 shares during the period. Finally, Ameriprise Financial Inc. acquired a new position in WAVE Life Sciences in the 3rd quarter valued at $790,000. 89.73% of the stock is owned by institutional investors and hedge funds.

WAVE Life Sciences Company Profile

(Get Free Report)

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.

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