Wave Life Sciences Ltd. (NASDAQ:WVE) Director Purchases $20,382,111.80 in Stock

Wave Life Sciences Ltd. (NASDAQ:WVEGet Rating) Director Ra Capital Management, L.P. purchased 9,480,052 shares of the company’s stock in a transaction that occurred on Thursday, June 16th. The stock was bought at an average price of $2.15 per share, with a total value of $20,382,111.80. Following the purchase, the director now owns 17,202,009 shares of the company’s stock, valued at approximately $36,984,319.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Wave Life Sciences stock opened at $2.40 on Friday. The company has a market cap of $147.00 million, a PE ratio of -1.13 and a beta of 0.51. The company has a fifty day moving average price of $1.75 and a two-hundred day moving average price of $2.33. Wave Life Sciences Ltd. has a 12 month low of $1.16 and a 12 month high of $7.30.

Wave Life Sciences (NASDAQ:WVEGet Rating) last released its quarterly earnings data on Thursday, May 12th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). The business had revenue of $1.75 million during the quarter, compared to analyst estimates of $3.75 million. Wave Life Sciences had a negative return on equity of 558.73% and a negative net margin of 275.31%. On average, research analysts predict that Wave Life Sciences Ltd. will post -2.02 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Northern Trust Corp boosted its holdings in shares of Wave Life Sciences by 10.9% during the fourth quarter. Northern Trust Corp now owns 415,366 shares of the company’s stock valued at $1,304,000 after acquiring an additional 40,857 shares during the period. Tudor Investment Corp Et Al acquired a new position in shares of Wave Life Sciences during the third quarter valued at $138,000. DAFNA Capital Management LLC acquired a new position in shares of Wave Life Sciences during the fourth quarter valued at $1,225,000. Point72 Hong Kong Ltd boosted its holdings in shares of Wave Life Sciences by 227.6% during the third quarter. Point72 Hong Kong Ltd now owns 7,843 shares of the company’s stock valued at $38,000 after acquiring an additional 5,449 shares during the period. Finally, M28 Capital Management LP acquired a new position in shares of Wave Life Sciences during the fourth quarter valued at $11,824,000. 78.68% of the stock is owned by institutional investors.

WVE has been the subject of a number of research analyst reports. StockNews.com initiated coverage on shares of Wave Life Sciences in a research note on Thursday, March 31st. They issued a “hold” rating for the company. HC Wainwright dropped their price target on shares of Wave Life Sciences from $10.00 to $8.00 in a research note on Friday, May 13th.

About Wave Life Sciences (Get Rating)

Wave Life Sciences Ltd., a clinical stage genetic medicine company, designs, optimizes, and produces novel stereopure oligonucleotides through PRISM, a discovery and drug developing platform. It is developing oligonucleotides target ribonucleic acid to reduce the expression of disease-promoting proteins or restore the production of functional proteins, or modulate protein expression.

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