Insider Selling: Wave Life Sciences Ltd. (NASDAQ:WVE) Insider Sells 208,836 Shares of Stock

Wave Life Sciences Ltd. (NASDAQ:WVE) insider Chris Francis sold 208,836 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $13.67, for a total transaction of $2,854,788.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Wave Life Sciences Price Performance

WVE opened at $15.31 on Friday. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -29.44 and a beta of -1.10. The business has a 50-day moving average of $7.10 and a two-hundred day moving average of $6.22. Wave Life Sciences Ltd. has a 12 month low of $3.50 and a 12 month high of $15.92.

Wave Life Sciences (NASDAQ:WVE) last issued its earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share (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 firm had revenue of $19.69 million for the quarter, compared to analysts’ expectations of $24.80 million. During the same quarter in the previous year, the firm posted ($0.20) EPS. Equities research analysts anticipate that Wave Life Sciences Ltd. will post -1.02 earnings per share for the current year.

Institutional Trading of Wave Life Sciences

Several large investors have recently bought and sold shares of the company. Artal Group S.A. grew its position in Wave Life Sciences by 34.7% in the first quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock valued at $24,997,000 after acquiring an additional 1,044,000 shares in the last quarter. Emerald Advisers LLC acquired a new stake in Wave Life Sciences in the second quarter valued at approximately $12,441,000. Price T Rowe Associates Inc. MD grew its position in Wave Life Sciences by 14.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,861,254 shares of the company’s stock valued at $11,485,000 after acquiring an additional 233,891 shares in the last quarter. Vanguard Group Inc. grew its position in Wave Life Sciences by 39.7% in the first quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock valued at $11,316,000 after acquiring an additional 521,665 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in Wave Life Sciences in the second quarter valued at approximately $9,086,000. Institutional investors and hedge funds own 89.73% of the company’s stock.

Wall Street Analysts Forecast Growth

WVE has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $22.00 target price on shares of Wave Life Sciences in a research note on Thursday. Raymond James raised shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $13.00 to $22.00 in a research report on Wednesday. Mizuho reissued an “outperform” rating and set a $19.00 price target on shares of Wave Life Sciences in a research report on Tuesday, June 25th. B. Riley increased their price target on shares of Wave Life Sciences from $11.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Leerink Partners increased their price target on shares of Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wave Life Sciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.56.

About Wave Life Sciences

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.