Insider Selling: WAVE Life Sciences (NASDAQ:WVE) Director Sells $42,070.00 in Stock

WAVE Life Sciences Ltd. (NASDAQ:WVE) Director Heidi Wagner sold 7,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $6.01, for a total transaction of $42,070.00. Following the transaction, the director owned 44,930 shares in the company, valued at $270,029.30. The trade was a 13.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

WAVE Life Sciences Trading Down 0.8%

Shares of WVE stock traded down $0.04 during trading on Thursday, hitting $5.20. The company’s stock had a trading volume of 6,048,504 shares, compared to its average volume of 2,757,944. The business has a fifty day moving average of $5.88 and a 200-day moving average of $8.42. WAVE Life Sciences Ltd. has a 52 week low of $5.01 and a 52 week high of $21.73. The company has a market cap of $1.02 billion, a PE ratio of -4.77 and a beta of -1.26.

WAVE Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.04). WAVE Life Sciences had a negative net margin of 309.73% and a negative return on equity of 50.36%. The firm had revenue of $2.27 million for the quarter, compared to analysts’ expectations of $7.45 million. As a group, research analysts predict that WAVE Life Sciences Ltd. will post -1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WVE. B. Riley Financial decreased their price objective on shares of WAVE Life Sciences from $31.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Zacks Research upgraded shares of WAVE Life Sciences from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Wedbush reduced their price target on shares of WAVE Life Sciences from $15.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, July 31st. Mizuho dropped their price objective on shares of WAVE Life Sciences from $27.00 to $23.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 4th. Finally, Wells Fargo & Company increased their target price on WAVE Life Sciences from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, WAVE Life Sciences has an average rating of “Moderate Buy” and an average target price of $22.53.

Institutional Trading of WAVE Life Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of WVE. GSK plc acquired a new position in shares of WAVE Life Sciences during the 4th quarter worth about $310,177,000. Adage Capital Partners GP L.L.C. raised its position in shares of WAVE Life Sciences by 20.0% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 15,016,500 shares of the company’s stock worth $97,607,000 after acquiring an additional 2,500,000 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of WAVE Life Sciences by 83.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,407,372 shares of the company’s stock valued at $125,927,000 after purchasing an additional 3,362,880 shares during the period. Darwin Global Management Ltd. acquired a new stake in shares of WAVE Life Sciences during the 4th quarter worth approximately $125,168,000. Finally, Federated Hermes Inc. increased its stake in WAVE Life Sciences by 26.5% in the fourth quarter. Federated Hermes Inc. now owns 4,744,520 shares of the company’s stock valued at $80,657,000 after purchasing an additional 993,827 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

About WAVE Life Sciences

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.