Wave Life Sciences Ltd. (NASDAQ:WVE) Insider Sells $2,854,788.12 in Stock

Wave Life Sciences Ltd. (NASDAQ:WVE) insider Chris Francis sold 208,836 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $13.67, for a total value of $2,854,788.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Wave Life Sciences Price Performance

Shares of WVE opened at $15.31 on Monday. The company has a 50-day simple moving average of $7.10 and a two-hundred day simple moving average of $6.22. The firm has a market capitalization of $1.88 billion, a PE ratio of -29.44 and a beta of -1.10. Wave Life Sciences Ltd. has a one year low of $3.50 and a one year high of $15.92.

Wave Life Sciences (NASDAQ:WVE) last released its 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). The firm had revenue of $19.69 million during the quarter, compared to analysts’ expectations of $24.80 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. During the same quarter in the previous year, the business earned ($0.20) EPS. Analysts expect that Wave Life Sciences Ltd. will post -1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WVE. JPMorgan Chase & Co. increased their price objective on Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday. Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $13.00 to $22.00 in a report on Wednesday, October 16th. Royal Bank of Canada raised their price target on shares of Wave Life Sciences from $5.00 to $7.00 and gave the stock a “sector perform” rating in a report on Friday, October 4th. Leerink Partners upped their price objective on shares of Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Mizuho reissued an “outperform” rating and issued a $19.00 target price on shares of Wave Life Sciences in a research note on Tuesday, June 25th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Wave Life Sciences has an average rating of “Moderate Buy” and a consensus target price of $18.56.

Institutional Trading of Wave Life Sciences

A number of hedge funds have recently modified their holdings of WVE. Ameritas Investment Partners Inc. boosted its position in shares of Wave Life Sciences by 50.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after purchasing an additional 2,451 shares in the last quarter. Profund Advisors LLC purchased a new stake in shares of Wave Life Sciences in the second quarter worth $53,000. Principal Financial Group Inc. bought a new position in shares of Wave Life Sciences during the second quarter valued at $74,000. Mackenzie Financial Corp increased its holdings in shares of Wave Life Sciences by 13.6% during the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after acquiring an additional 1,905 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of Wave Life Sciences in the 2nd quarter worth about $104,000. Institutional investors 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.