Insider Selling: Wave Life Sciences Ltd. (NASDAQ:WVE) Director Sells 10,500 Shares of Stock

Wave Life Sciences Ltd. (NASDAQ:WVE) Director Christian O. Henry sold 10,500 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $9.77, for a total value of $102,585.00. Following the completion of the sale, the director now owns 16,115 shares of the company’s stock, valued at approximately $157,443.55. The trade was a 39.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Wave Life Sciences Stock Down 0.8 %

Wave Life Sciences stock opened at $9.59 on Friday. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -8.64 and a beta of -1.04. Wave Life Sciences Ltd. has a 52-week low of $4.25 and a 52-week high of $16.74. The firm has a 50-day moving average price of $10.92 and a two-hundred day moving average price of $11.50.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Tuesday, March 4th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.34. The business had revenue of $83.75 million during the quarter, compared to analyst estimates of $25.60 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. Research analysts expect that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current year.

Hedge Funds Weigh In On Wave Life Sciences

A number of hedge funds have recently added to or reduced their stakes in WVE. GF Fund Management CO. LTD. bought a new position in shares of Wave Life Sciences in the fourth quarter worth about $40,000. Quarry LP acquired a new position in shares of Wave Life Sciences in the 4th quarter worth approximately $62,000. KBC Group NV bought a new position in shares of Wave Life Sciences in the fourth quarter worth about $67,000. Summit Investment Advisors Inc. lifted its position in Wave Life Sciences by 31.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company’s stock valued at $119,000 after purchasing an additional 2,308 shares during the period. Finally, Westwood Wealth Management bought a new stake in Wave Life Sciences in the fourth quarter valued at about $124,000. Institutional investors and hedge funds own 89.73% of the company’s stock.

Wall Street Analysts Forecast Growth

WVE has been the topic of a number of research reports. StockNews.com upgraded Wave Life Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Jefferies Financial Group initiated coverage on shares of Wave Life Sciences in a research note on Tuesday, February 25th. They set a “buy” rating and a $26.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and issued a $22.00 price objective on shares of Wave Life Sciences in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.60.

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.