Insider Selling: WAVE Life Sciences (NASDAQ:WVE) Director Sells 93,445 Shares of Stock

WAVE Life Sciences Ltd. (NASDAQ:WVE) Director Christian Henry sold 93,445 shares of WAVE Life Sciences stock in a transaction on Monday, December 8th. The stock was sold at an average price of $14.65, for a total transaction of $1,368,969.25. Following the completion of the sale, the director owned 12,700 shares of the company’s stock, valued at approximately $186,055. This trade represents a 88.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

WAVE Life Sciences Trading Down 5.1%

NASDAQ WVE traded down $1.08 during trading hours on Wednesday, reaching $20.23. 17,639,147 shares of the company traded hands, compared to its average volume of 11,192,010. The stock has a market capitalization 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 company has a 50 day moving average of $8.27 and a two-hundred day moving average of $7.90.

WAVE Life Sciences (NASDAQ:WVE) last released 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). WAVE Life Sciences had a negative return on equity of 75.61% and a negative net margin of 111.64%.The company had revenue of $7.61 million during the quarter, compared to the consensus estimate of $9.85 million. On average, equities research analysts anticipate that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on WVE shares. Cantor Fitzgerald upped their price objective on WAVE Life Sciences from $12.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday. Raymond James Financial reissued an “outperform” rating and set a $21.00 price target on shares of WAVE Life Sciences in a research report on Monday. Canaccord Genuity Group lifted their price objective on shares of WAVE Life Sciences from $19.00 to $40.00 and gave the stock a “buy” rating in a report on Monday. UBS Group set a $30.00 target price on shares of WAVE Life Sciences in a research note on Tuesday. Finally, Morgan Stanley set a $28.00 price target on shares of WAVE Life Sciences in a research report on Monday. Twelve analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, WAVE Life Sciences has a consensus rating of “Moderate Buy” and a consensus price target of $27.46.

Hedge Funds Weigh In On WAVE Life Sciences

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bessemer Group Inc. lifted its position in WAVE Life Sciences by 1,156.3% in the third quarter. Bessemer Group Inc. now owns 9,925 shares of the company’s stock worth $72,000 after purchasing an additional 9,135 shares during the period. Russell Investments Group Ltd. raised its stake in shares of WAVE Life Sciences by 1,441.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company’s stock worth $73,000 after buying an additional 9,284 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of WAVE Life Sciences by 18.7% in the second quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company’s stock valued at $74,000 after buying an additional 1,802 shares during the period. Tower Research Capital LLC TRC boosted its stake in WAVE Life Sciences by 44.8% during the second quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company’s stock valued at $76,000 after buying an additional 3,609 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new position in WAVE Life Sciences during the second quarter worth about $80,000. Institutional investors and hedge funds own 89.73% of the company’s stock.

About WAVE Life Sciences

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.