Insider Selling: WAVE Life Sciences (NASDAQ:WVE) Insider Sells 33,194 Shares of Stock

WAVE Life Sciences Ltd. (NASDAQ:WVE) insider Chris Francis sold 33,194 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $15.05, for a total value of $499,569.70. Following the sale, the insider owned 61,867 shares in the company, valued at $931,098.35. This trade represents a 34.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Chris Francis also recently made the following trade(s):

• On Monday, February 9th, Chris Francis sold 1,883 shares of WAVE Life Sciences stock. The stock was sold at an average price of $13.45, for a total value of $25,326.35.
• On Friday, January 2nd, Chris Francis sold 9,375 shares of WAVE Life Sciences stock. The stock was sold at an average price of $16.03, for a total value of $150,281.25.
• On Monday, December 8th, Chris Francis sold 441,031 shares of WAVE Life Sciences stock. The shares were sold at an average price of $14.57, for a total transaction of $6,425,821.67.

WAVE Life Sciences Stock Down 9.3%

Shares of WVE stock traded down $1.43 during mid-day trading on Friday, reaching $13.93. The company’s stock had a trading volume of 3,736,850 shares, compared to its average volume of 2,440,287. The firm has a market capitalization of $2.33 billion, a PE ratio of -11.42 and a beta of -1.78. The company’s 50 day simple moving average is $14.45 and its 200-day simple moving average is $10.79. WAVE Life Sciences Ltd. has a 12-month low of $5.28 and a 12-month high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.02). The company had revenue of $17.25 million for the quarter. WAVE Life Sciences had a negative return on equity of 140.75% and a negative net margin of 478.35%. As a group, research analysts anticipate that WAVE Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Institutional Trading of WAVE Life Sciences

Hedge funds have recently bought and sold shares of the company. Voya Investment Management LLC lifted its position in shares of WAVE Life Sciences by 736.5% in the 3rd quarter. Voya Investment Management LLC now owns 258,011 shares of the company’s stock valued at $1,889,000 after acquiring an additional 227,167 shares in the last quarter. Handelsbanken Fonder AB purchased a new position in WAVE Life Sciences during the 2nd quarter worth approximately $330,000. JPMorgan Chase & Co. raised its stake in WAVE Life Sciences by 33.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,569,015 shares of the company’s stock valued at $10,199,000 after purchasing an additional 390,078 shares during the period. Federated Hermes Inc. lifted its holdings in shares of WAVE Life Sciences by 678,144.7% in the third quarter. Federated Hermes Inc. now owns 3,750,693 shares of the company’s stock valued at $27,455,000 after purchasing an additional 3,750,140 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of WAVE Life Sciences by 29.7% in the second quarter. Schroder Investment Management Group now owns 621,378 shares of the company’s stock worth $4,039,000 after buying an additional 142,109 shares during the period. 89.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wall Street Zen lowered WAVE Life Sciences from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Canaccord Genuity Group increased their target price 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. Citigroup boosted their price objective on WAVE Life Sciences from $16.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. Leerink Partners reiterated an “outperform” rating on shares of WAVE Life Sciences in a research report on Monday, December 8th. Finally, Bank of America initiated coverage on WAVE Life Sciences in a research note on Thursday, February 5th. They set a “buy” rating and a $38.00 price target for the company. Thirteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, WAVE Life Sciences has an average rating of “Moderate Buy” and a consensus target price of $33.00.

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.