WAVE Life Sciences (NASDAQ:WVE) Insider Chandra Vargeese Sells 3,228 Shares

WAVE Life Sciences Ltd. (NASDAQ:WVE) insider Chandra Vargeese sold 3,228 shares of WAVE Life Sciences stock in a transaction on Monday, February 9th. The stock was sold at an average price of $13.45, for a total transaction of $43,416.60. Following the transaction, the insider directly owned 408,246 shares of the company’s stock, valued at approximately $5,490,908.70. This trade represents a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

WAVE Life Sciences Stock Performance

Shares of WVE stock opened at $13.27 on Thursday. WAVE Life Sciences Ltd. has a 52 week low of $5.28 and a 52 week high of $21.73. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -17.69 and a beta of -1.78. The company has a 50-day simple moving average of $14.99 and a 200 day simple moving average of $10.38.

WAVE Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02). WAVE Life Sciences had a negative return on equity of 75.61% and a negative net margin of 111.64%.The company had revenue of $7.61 million for the quarter, compared to analyst estimates of $9.85 million. Sell-side analysts forecast that WAVE Life Sciences Ltd. will post -1.14 EPS for the current year.

Analyst Ratings Changes

WVE has been the topic of a number of research reports. Wedbush upped their price objective on WAVE Life Sciences from $20.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Cantor Fitzgerald upped their price target on shares of WAVE Life Sciences from $34.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. UBS Group set a $32.00 price target on shares of WAVE Life Sciences in a research report on Tuesday, December 16th. Oppenheimer boosted their price objective on shares of WAVE Life Sciences from $24.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, December 16th. Finally, Wall Street Zen lowered shares of WAVE Life Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Fourteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, WAVE Life Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $32.69.

Institutional Trading of WAVE Life Sciences

A number of hedge funds have recently made changes to their positions in WVE. CWM LLC raised its holdings in WAVE Life Sciences by 6,729.0% in the 4th quarter. CWM LLC now owns 2,117 shares of the company’s stock valued at $36,000 after buying an additional 2,086 shares during the last quarter. Bessemer Group Inc. increased its position in WAVE Life Sciences by 1,156.3% in the 3rd quarter. Bessemer Group Inc. now owns 9,925 shares of the company’s stock valued at $72,000 after acquiring an additional 9,135 shares during the period. Russell Investments Group Ltd. raised its stake in shares of WAVE Life Sciences by 1,441.6% during the third quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company’s stock valued at $73,000 after acquiring an additional 9,284 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of WAVE Life Sciences by 18.7% during the second quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company’s stock worth $74,000 after purchasing an additional 1,802 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in shares of WAVE Life Sciences by 44.8% in the second quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company’s stock worth $76,000 after purchasing an additional 3,609 shares during the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.

WAVE Life Sciences Company Profile

WAVE Life Sciences is a clinical-stage genetic medicines company focused on the discovery and development of stereopure oligonucleotide therapies designed to address serious diseases with high unmet medical need. Leveraging proprietary chemistry and precision synthesis, WAVE engineers drug candidates with defined stereochemistry to optimize potency, safety and manufacturability. This approach aims to enhance target specificity and improve therapeutic profiles compared with traditional oligonucleotide medicines.

The company’s pipeline includes programs in neuromuscular disorders such as Duchenne muscular dystrophy and neurodegenerative conditions including Huntington’s disease, as well as early-stage cardiovascular and liver indications.