Insider Selling: WAVE Life Sciences (NASDAQ:WVE) Director Sells $67,183.00 in Stock

WAVE Life Sciences Ltd. (NASDAQ:WVE) Director Adrian Rawcliffe sold 12,700 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $5.29, for a total value of $67,183.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

WAVE Life Sciences Stock Down 0.8%

Shares of NASDAQ WVE traded down $0.04 during mid-day trading on Thursday, reaching $5.20. 6,048,504 shares of the company were exchanged, compared to its average volume of 2,757,944. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -4.77 and a beta of -1.26. The firm has a 50-day moving average of $5.88 and a 200 day moving average of $8.42. WAVE Life Sciences Ltd. has a 1 year low of $5.01 and a 1 year high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last posted its 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 for the quarter, compared to analysts’ expectations of $7.45 million. WAVE Life Sciences had a negative net margin of 309.73% and a negative return on equity of 50.36%. On average, equities analysts forecast that WAVE Life Sciences Ltd. will post -1.12 earnings per share for the current year.

Institutional Trading of WAVE Life Sciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GSK plc purchased a new position in WAVE Life Sciences in the fourth quarter valued at $310,177,000. Darwin Global Management Ltd. purchased a new stake in shares of WAVE Life Sciences during the 4th quarter worth about $125,168,000. Price T Rowe Associates Inc. MD increased its holdings in WAVE Life Sciences by 83.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,407,372 shares of the company’s stock worth $125,927,000 after acquiring an additional 3,362,880 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in WAVE Life Sciences by 20.0% during the second quarter. Adage Capital Partners GP L.L.C. now owns 15,016,500 shares of the company’s stock valued at $97,607,000 after purchasing an additional 2,500,000 shares in the last quarter. Finally, Primecap Management Co. CA lifted its holdings in WAVE Life Sciences by 115.7% during the fourth quarter. Primecap Management Co. CA now owns 4,095,282 shares of the company’s stock valued at $69,620,000 after purchasing an additional 2,196,632 shares in the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WVE shares. B. Riley Financial dropped their target price on WAVE Life Sciences from $31.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Zacks Research upgraded WAVE Life Sciences from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Canaccord Genuity Group lowered their price target on WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Mizuho lowered their target price on shares of WAVE Life Sciences from $27.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, August 4th. Finally, Citigroup cut their price target on shares of WAVE Life Sciences from $24.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.53.

WAVE Life Sciences Company Profile

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.