WAVE Life Sciences (NASDAQ:WVE) Director Ken Takanashi Sells 3,864 Shares of Stock

WAVE Life Sciences Ltd. (NASDAQ:WVE) Director Ken Takanashi sold 3,864 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $6.01, for a total transaction of $23,222.64. Following the sale, the director directly owned 20,079 shares of the company’s stock, valued at $120,674.79. This represents a 16.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

WAVE Life Sciences Stock Down 0.8%

WVE opened at $5.20 on Friday. WAVE Life Sciences Ltd. has a twelve month low of $5.01 and a twelve month high of $21.73. The company has a 50-day moving average price of $5.88 and a 200 day moving average price of $8.42. 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 posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.04). WAVE Life Sciences had a negative return on equity of 50.36% and a negative net margin of 309.73%.The firm had revenue of $2.27 million during the quarter, compared to analyst estimates of $7.45 million. As a group, sell-side analysts expect that WAVE Life Sciences Ltd. will post -1.12 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Pictet Asset Management Holding SA lifted its holdings in WAVE Life Sciences by 5,024.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 805,901 shares of the company’s stock valued at $13,830,000 after acquiring an additional 790,175 shares during the last quarter. Renaissance Technologies LLC increased its stake in WAVE Life Sciences by 152.6% during the first quarter. Renaissance Technologies LLC now owns 597,220 shares of the company’s stock worth $4,330,000 after acquiring an additional 360,800 shares during the last quarter. Prescott Group Capital Management L.L.C. purchased a new stake in WAVE Life Sciences in the fourth quarter valued at $1,530,000. F m Investments LLC raised its position in WAVE Life Sciences by 24.5% in the fourth quarter. F m Investments LLC now owns 395,894 shares of the company’s stock valued at $6,730,000 after purchasing an additional 77,807 shares during the period. Finally, Elmind Capital LP acquired a new position in shares of WAVE Life Sciences in the 4th quarter valued at $7,613,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. B. Riley Financial lowered their price target on WAVE Life Sciences from $31.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. HC Wainwright reissued a “buy” rating on shares of WAVE Life Sciences in a research note on Monday, August 3rd. Truist Financial started coverage on WAVE Life Sciences in a report on Wednesday, April 29th. They issued a “buy” rating and a $15.00 price objective on the stock. Canaccord Genuity Group lowered their target price on shares of WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Finally, UBS Group set a $13.00 target price on shares of WAVE Life Sciences in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, WAVE Life Sciences has a consensus rating of “Moderate Buy” and an average target price of $22.53.

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.