Insider Selling: Wave Life Sciences Ltd. (NASDAQ:WVE) CEO Sells $1,357,110.00 in Stock

Wave Life Sciences Ltd. (NASDAQ:WVE) CEO Paul Bolno sold 90,474 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $15.00, for a total transaction of $1,357,110.00. Following the completion of the transaction, the chief executive officer now owns 268,585 shares of the company’s stock, valued at approximately $4,028,775. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Paul Bolno also recently made the following trade(s):

• On Wednesday, August 21st, Paul Bolno sold 48,366 shares of Wave Life Sciences stock. The shares were sold at an average price of $5.78, for a total transaction of $279,555.48.

Wave Life Sciences Stock Up 4.8 %

NASDAQ:WVE opened at $15.31 on Monday. Wave Life Sciences Ltd. has a twelve month low of $3.50 and a twelve month high of $15.92. The company has a fifty day moving average of $7.10 and a 200-day moving average of $6.22. The firm has a market capitalization of $1.88 billion, a P/E ratio of -29.44 and a beta of -1.10.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. The company had revenue of $19.69 million during the quarter, compared to analyst estimates of $24.80 million. During the same quarter in the previous year, the business posted ($0.20) earnings per share. On average, analysts anticipate that Wave Life Sciences Ltd. will post -1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Raymond James upgraded Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $13.00 to $22.00 in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price objective on Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday. Leerink Partners increased their target price on shares of Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. HC Wainwright restated a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a research report on Thursday. Finally, Royal Bank of Canada upped their price objective on shares of Wave Life Sciences from $5.00 to $7.00 and gave the company a “sector perform” rating in a research note on Friday, October 4th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $18.56.

Institutional Trading of Wave Life Sciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp increased its stake in Wave Life Sciences by 13.6% during the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after purchasing an additional 1,905 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Wave Life Sciences by 50.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after acquiring an additional 2,451 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Wave Life Sciences by 3.4% in the 2nd quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock worth $628,000 after acquiring an additional 4,092 shares during the last quarter. Swiss National Bank lifted its position in Wave Life Sciences by 2.7% in the 1st quarter. Swiss National Bank now owns 156,500 shares of the company’s stock valued at $966,000 after acquiring an additional 4,100 shares in the last quarter. Finally, Capstone Investment Advisors LLC boosted its stake in Wave Life Sciences by 9.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 54,500 shares of the company’s stock valued at $336,000 after purchasing an additional 4,500 shares during the last quarter. 89.73% of the stock is owned by institutional investors.

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.