WAVE Life Sciences (NASDAQ:WVE) Director Mark Corrigan Sells 16,115 Shares

WAVE Life Sciences Ltd. (NASDAQ:WVE) Director Mark Corrigan sold 16,115 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $13.48, for a total value of $217,230.20. Following the sale, the director directly owned 28,815 shares of the company’s stock, valued at $388,426.20. This represents a 35.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

WAVE Life Sciences Stock Performance

Shares of NASDAQ WVE traded down $1.08 during trading on Wednesday, hitting $20.23. The company had a trading volume of 17,639,147 shares, compared to its average volume of 11,192,010. WAVE Life Sciences Ltd. has a 12 month low of $5.28 and a 12 month high of $21.73. The firm has a market capitalization of $3.38 billion, a P/E ratio of -26.97 and a beta of -1.72. The stock has a 50 day simple moving average of $8.27 and a 200 day simple 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 (EPS) 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 firm had revenue of $7.61 million during the quarter, compared to analysts’ expectations of $9.85 million. As a group, analysts predict that WAVE Life Sciences Ltd. will post -1.14 EPS for the current year.

Institutional Investors Weigh In On WAVE Life Sciences

A number of hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. boosted its stake in WAVE Life Sciences by 1,156.3% during the third quarter. Bessemer Group Inc. now owns 9,925 shares of the company’s stock valued at $72,000 after buying an additional 9,135 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of WAVE Life Sciences by 1,441.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company’s stock worth $73,000 after acquiring an additional 9,284 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of WAVE Life Sciences by 18.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company’s stock valued at $74,000 after acquiring an additional 1,802 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of WAVE Life Sciences by 44.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company’s stock valued at $76,000 after acquiring an additional 3,609 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of WAVE Life Sciences in the second quarter valued at $80,000. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WVE has been the topic of several recent analyst reports. HC Wainwright restated a “buy” rating and set a $22.00 price objective on shares of WAVE Life Sciences in a research report on Wednesday, September 3rd. B. Riley reissued a “buy” rating on shares of WAVE Life Sciences in a report on Thursday, September 4th. Wedbush boosted their price objective on WAVE Life Sciences from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, November 11th. UBS Group set a $30.00 target price on WAVE Life Sciences in a research report on Tuesday. Finally, Cantor Fitzgerald lifted their target price on WAVE Life Sciences from $12.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday. Twelve research analysts have rated the stock with a Buy rating and one has given 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.

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.