WAVE Life Sciences (NASDAQ:WVE) Director Gregory Verdine Sells 20,000 Shares of Stock

by · The Cerbat Gem

WAVE Life Sciences Ltd. (NASDAQ:WVE – Get Free Report) Director Gregory Verdine sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $13.47, for a total transaction of $269,400.00. Following the completion of the sale, the director owned 275,217 shares of the company’s stock, valued at approximately $3,707,172.99. This trade represents a 6.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

WAVE Life Sciences Trading Down 5.1%

Shares of WVE opened at $20.23 on Thursday. The firm has a market cap of $3.38 billion, a PE ratio of -26.97 and a beta of -1.72. WAVE Life Sciences Ltd. has a 12 month low of $5.28 and a 12 month high of $21.73. The stock has a fifty day moving average price of $8.27 and a 200-day moving average price of $7.90.

WAVE Life Sciences (NASDAQ:WVE – Get Free Report) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.32) EPS 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 business had revenue of $7.61 million during the quarter, compared to analysts’ expectations of $9.85 million. As a group, research analysts forecast that WAVE Life Sciences Ltd. will post -1.14 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. UBS Group set a $30.00 price objective on WAVE Life Sciences in a report on Tuesday. Wedbush increased their price target on shares of WAVE Life Sciences from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. Canaccord Genuity Group lifted their price objective on shares of WAVE Life Sciences from $19.00 to $40.00 and gave the company a “buy” rating in a research note on Monday. Cantor Fitzgerald upped their price objective on shares of WAVE Life Sciences from $12.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Royal Bank Of Canada raised shares of WAVE Life Sciences from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $9.00 to $27.00 in a report on Monday. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.46.

View Our Latest Stock Report on WAVE Life Sciences

Hedge Funds Weigh In On WAVE Life Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WVE. XTX Topco Ltd acquired a new stake in shares of WAVE Life Sciences in the first quarter worth approximately $225,000. Vanguard Group Inc. boosted its stake in WAVE Life Sciences by 0.8% during the first quarter. Vanguard Group Inc. now owns 3,206,403 shares of the company’s stock worth $25,908,000 after buying an additional 23,891 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of WAVE Life Sciences by 5.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 963,125 shares of the company’s stock valued at $7,782,000 after buying an additional 48,656 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in WAVE Life Sciences during the 1st quarter valued at about $103,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in WAVE Life Sciences by 9.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,673 shares of the company’s stock valued at $151,000 after acquiring an additional 1,564 shares in the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

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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