Insider Selling: WAVE Life Sciences (NASDAQ:WVE) Director Sells 14,000 Shares of Stock

by · The Cerbat Gem

WAVE Life Sciences Ltd. (NASDAQ:WVE – Get Free Report) Director Heidi Wagner sold 14,000 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $13.50, for a total transaction of $189,000.00. Following the completion of the sale, the director directly owned 44,930 shares of the company’s stock, valued at $606,555. This trade represents a 23.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

WAVE Life Sciences Stock Down 5.1%

Shares of NASDAQ WVE traded down $1.08 during trading on Wednesday, reaching $20.23. 17,639,147 shares of the stock were exchanged, compared to its average volume of 11,192,010. The business’s 50-day moving average price is $8.27 and its 200 day moving average price is $7.90. WAVE Life Sciences Ltd. has a twelve month low of $5.28 and a twelve month high of $21.73. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of -26.97 and a beta of -1.72.

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

Institutional Investors Weigh In On WAVE Life Sciences

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. lifted its position in shares of WAVE Life Sciences by 1,156.3% in the 3rd quarter. Bessemer Group Inc. now owns 9,925 shares of the company’s stock worth $72,000 after buying an additional 9,135 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of WAVE Life Sciences by 1,441.6% during the third quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company’s stock valued at $73,000 after acquiring an additional 9,284 shares during the period. Ascent Group LLC acquired a new position in shares of WAVE Life Sciences during the first quarter valued at $83,000. Verdence Capital Advisors LLC bought a new position in shares of WAVE Life Sciences during the third quarter worth about $86,000. Finally, Ameritas Investment Partners Inc. increased its holdings in shares of WAVE Life Sciences by 18.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company’s stock worth $74,000 after acquiring an additional 1,802 shares during the period. 89.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WVE. UBS Group set a $30.00 target price on WAVE Life Sciences in a research note on Tuesday. Wells Fargo & Company increased their price target on WAVE Life Sciences from $16.00 to $29.00 and gave the company an “overweight” rating in a report on Tuesday. Canaccord Genuity Group raised their price objective on WAVE Life Sciences from $19.00 to $40.00 and gave the company a “buy” rating in a research note on Monday. HC Wainwright restated a “buy” rating and set a $22.00 price objective on shares of WAVE Life Sciences in a report on Wednesday, September 3rd. Finally, Citigroup increased their target price on WAVE Life Sciences from $16.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday. Twelve analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, WAVE Life Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $27.46.

View Our Latest Stock Report on WVE

About WAVE Life Sciences

(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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