WAVE Life Sciences (NASDAQ:WVE) Director Adrian Rawcliffe Sells 12,700 Shares of Stock

WAVE Life Sciences Ltd. (NASDAQ:WVE) Director Adrian Rawcliffe sold 12,700 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $5.29, for a total value of $67,183.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

WAVE Life Sciences Stock Down 0.8%

Shares of WVE stock opened at $5.20 on Friday. WAVE Life Sciences Ltd. has a 12 month low of $5.01 and a 12 month high of $21.73. The business’s 50 day moving average is $5.88 and its two-hundred day moving average is $8.42. The company has a market cap of $1.02 billion, a PE ratio of -4.77 and a beta of -1.26.

WAVE Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). The firm had revenue of $2.27 million during the quarter, compared to the consensus estimate of $7.45 million. WAVE Life Sciences had a negative net margin of 309.73% and a negative return on equity of 50.36%. As a group, equities analysts expect that WAVE Life Sciences Ltd. will post -1.12 EPS for the current fiscal year.

Hedge Funds Weigh In On WAVE Life Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in WVE. CWM LLC boosted its position in shares of WAVE Life Sciences by 6,729.0% during the 4th quarter. CWM LLC now owns 2,117 shares of the company’s stock valued at $36,000 after acquiring an additional 2,086 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in WAVE Life Sciences by 645.2% during the fourth 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 during the period. Russell Investments Group Ltd. lifted its stake in 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 worth $73,000 after purchasing an additional 9,284 shares during the period. Tower Research Capital LLC TRC boosted its holdings 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 purchasing an additional 3,609 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new stake in WAVE Life Sciences during the second quarter valued at approximately $80,000. 89.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WVE shares. B. Riley Financial cut their target price on shares of WAVE Life Sciences from $31.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Zacks Research raised WAVE Life Sciences from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Mizuho cut their price target on WAVE Life Sciences from $27.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, August 4th. New Street Research set a $13.00 price objective on shares of WAVE Life Sciences in a research note on Thursday, June 11th. Finally, Wells Fargo & Company increased their price target on shares of WAVE Life Sciences from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, WAVE Life Sciences has a consensus rating of “Moderate Buy” and a consensus price target of $22.53.

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.