WAVE Life Sciences (NASDAQ:WVE) Director Sells $67,183.00 in Stock

WAVE Life Sciences Ltd. (NASDAQ:WVE) Director Adrian Rawcliffe sold 12,700 shares of WAVE Life Sciences stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $5.29, for a total value of $67,183.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.

WAVE Life Sciences Trading Up 4.0%

Shares of NASDAQ:WVE opened at $5.41 on Friday. WAVE Life Sciences Ltd. has a 12-month low of $5.01 and a 12-month high of $21.73. The business has a 50 day moving average of $5.88 and a two-hundred day moving average of $8.40. The company has a market capitalization of $1.07 billion, a PE ratio of -4.96 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 analysts’ consensus estimates of ($0.30) by ($0.04). The firm had revenue of $2.27 million for the quarter, compared to analyst estimates of $7.45 million. WAVE Life Sciences had a negative return on equity of 50.36% and a negative net margin of 309.73%. Equities research analysts predict that WAVE Life Sciences Ltd. will post -1.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On WAVE Life Sciences

Large investors have recently added to or reduced their stakes in the stock. Pictet Asset Management Holding SA raised its position in shares of WAVE Life Sciences by 5,024.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 805,901 shares of the company’s stock worth $13,830,000 after purchasing an additional 790,175 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in WAVE Life Sciences by 152.6% in the 1st quarter. Renaissance Technologies LLC now owns 597,220 shares of the company’s stock worth $4,330,000 after buying an additional 360,800 shares during the last quarter. Prescott Group Capital Management L.L.C. acquired a new stake in WAVE Life Sciences in the 4th quarter worth about $1,530,000. F m Investments LLC increased its stake in WAVE Life Sciences by 24.5% during the 4th quarter. F m Investments LLC now owns 395,894 shares of the company’s stock worth $6,730,000 after buying an additional 77,807 shares in the last quarter. Finally, Elmind Capital LP purchased a new stake in WAVE Life Sciences during the 4th quarter worth approximately $7,613,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on WVE shares. Canaccord Genuity Group dropped their price target on shares of WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. HC Wainwright reissued a “buy” rating on shares of WAVE Life Sciences in a research note on Monday, August 3rd. Truist Financial assumed coverage on shares of WAVE Life Sciences in a research note on Wednesday, April 29th. They set a “buy” rating and a $15.00 target price on the stock. Wall Street Zen cut WAVE Life Sciences from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 1st. Finally, Zacks Research upgraded WAVE Life Sciences from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.