Paul Bolno Sells 48,366 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) Stock

Wave Life Sciences Ltd. (NASDAQ:WVE) CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total value of $279,555.48. Following the transaction, the chief executive officer now directly owns 359,059 shares in the company, valued at approximately $2,075,361.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wave Life Sciences Trading Up 4.0 %

NASDAQ WVE opened at $5.74 on Friday. Wave Life Sciences Ltd. has a 52 week low of $3.50 and a 52 week high of $7.67. The stock has a market cap of $716.01 million, a price-to-earnings ratio of -11.04 and a beta of -1.12. The company has a 50-day moving average price of $5.70 and a two-hundred day moving average price of $5.61.

Wave Life Sciences (NASDAQ:WVE) last released its earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.09). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. The business had revenue of $19.69 million for the quarter, compared to analyst estimates of $24.80 million. During the same period in the prior year, the company earned ($0.20) earnings per share. As a group, equities research analysts expect that Wave Life Sciences Ltd. will post -1.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WVE shares. HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of Wave Life Sciences in a research note on Wednesday, June 26th. StockNews.com downgraded shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Wells Fargo & Company initiated coverage on shares of Wave Life Sciences in a research note on Wednesday, May 15th. They set an “overweight” rating and a $11.00 target price for the company. Finally, Mizuho reiterated an “outperform” rating and set a $19.00 price target on shares of Wave Life Sciences in a research report on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.17.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in WVE. M28 Capital Management LP increased its stake in shares of Wave Life Sciences by 4.7% during the 4th quarter. M28 Capital Management LP now owns 7,373,413 shares of the company’s stock worth $37,236,000 after purchasing an additional 328,913 shares during the last quarter. Artal Group S.A. increased its position in shares of Wave Life Sciences by 34.7% during the 1st quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock worth $24,997,000 after purchasing an additional 1,044,000 shares in the last quarter. Emerald Advisers LLC acquired a new stake in shares of Wave Life Sciences during the 2nd quarter worth about $12,441,000. Price T Rowe Associates Inc. MD increased its position in shares of Wave Life Sciences by 14.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,861,254 shares of the company’s stock worth $11,485,000 after purchasing an additional 233,891 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Wave Life Sciences by 39.7% during the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock worth $11,316,000 after purchasing an additional 521,665 shares in the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

Wave Life Sciences Company Profile

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.