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 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 sale, the chief executive officer now owns 359,059 shares of the company’s stock, valued at approximately $2,075,361.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Wave Life Sciences Stock Up 4.0 %

NASDAQ:WVE traded up $0.22 during midday trading on Friday, hitting $5.74. The stock had a trading volume of 581,387 shares, compared to its average volume of 839,807. The stock has a 50-day moving average of $5.71 and a 200 day moving average of $5.59. The company has a market capitalization of $703.01 million, a price-to-earnings ratio of -10.56 and a beta of -1.12. Wave Life Sciences Ltd. has a one year low of $3.50 and a one year high of $7.67.

Wave Life Sciences (NASDAQ:WVE) last posted 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 business had revenue of $19.69 million for 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 period last year, the business posted ($0.20) EPS. On average, sell-side analysts anticipate that Wave Life Sciences Ltd. will post -1.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WVE has been the subject of a number of research analyst reports. Mizuho reaffirmed an “outperform” rating and set a $19.00 price objective on shares of Wave Life Sciences in a report on Tuesday, June 25th. Wells Fargo & Company started 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. StockNews.com cut shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Finally, HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of Wave Life Sciences in a research report on Wednesday, June 26th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.17.

Institutional Investors Weigh In On Wave Life Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Swiss National Bank purchased a new stake in Wave Life Sciences during the 4th quarter worth approximately $770,000. SG Americas Securities LLC purchased a new stake in shares of Wave Life Sciences during the second quarter valued at $668,000. Vanguard Group Inc. grew its holdings in shares of Wave Life Sciences by 39.7% during the first quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock valued at $11,316,000 after buying an additional 521,665 shares during the last quarter. Virtu Financial LLC purchased a new position in Wave Life Sciences in the 4th quarter worth $174,000. Finally, Capstone Investment Advisors LLC lifted its position 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 worth $336,000 after acquiring an additional 4,500 shares during the period. Hedge funds and other 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.