Insider Selling: WAVE Life Sciences (NASDAQ:WVE) Insider Sells $43,416.60 in Stock

WAVE Life Sciences Ltd. (NASDAQ:WVE) insider Chandra Vargeese sold 3,228 shares of WAVE Life Sciences stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $13.45, for a total transaction of $43,416.60. Following the sale, the insider directly owned 408,246 shares in the company, valued at $5,490,908.70. This trade represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

WAVE Life Sciences Price Performance

Shares of NASDAQ:WVE opened at $12.68 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 $2.12 billion, a price-to-earnings ratio of -16.91 and a beta of -1.78. The firm has a 50 day simple moving average of $15.20 and a 200 day simple moving average of $10.43.

Institutional Trading of WAVE Life Sciences

Several institutional investors have recently added to or reduced their stakes in the stock. CWM LLC grew its holdings in WAVE Life Sciences by 6,729.0% in the fourth quarter. CWM LLC now owns 2,117 shares of the company’s stock worth $36,000 after purchasing an additional 2,086 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of WAVE Life Sciences by 645.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,243 shares of the company’s stock worth $38,000 after purchasing an additional 1,942 shares in the last quarter. Bessemer Group Inc. grew its stake 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 valued at $72,000 after buying an additional 9,135 shares during the period. Russell Investments Group Ltd. grew 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 valued at $73,000 after buying an additional 9,284 shares during the period. Finally, Ameritas Investment Partners Inc. increased its position in WAVE Life Sciences by 18.7% in the 2nd 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 in the last quarter. 89.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WVE shares. Canaccord Genuity Group boosted their price objective on WAVE Life Sciences from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Tuesday, February 3rd. B. Riley Financial boosted their price target on WAVE Life Sciences from $19.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Wall Street Zen lowered shares of WAVE Life Sciences from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Raymond James Financial reiterated an “outperform” rating and set a $21.00 target price on shares of WAVE Life Sciences in a research report on Monday, December 8th. Finally, Morgan Stanley set a $28.00 target price on shares of WAVE Life Sciences in a report on Monday, December 8th. Fourteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.56.

About WAVE Life Sciences

WAVE Life Sciences is a clinical-stage genetic medicines company focused on the discovery and development of stereopure oligonucleotide therapies designed to address serious diseases with high unmet medical need. Leveraging proprietary chemistry and precision synthesis, WAVE engineers drug candidates with defined stereochemistry to optimize potency, safety and manufacturability. This approach aims to enhance target specificity and improve therapeutic profiles compared with traditional oligonucleotide medicines.

The company’s pipeline includes programs in neuromuscular disorders such as Duchenne muscular dystrophy and neurodegenerative conditions including Huntington’s disease, as well as early-stage cardiovascular and liver indications.