Insider Selling: WAVE Life Sciences (NASDAQ:WVE) Insider Sells 1,883 Shares of Stock

WAVE Life Sciences Ltd. (NASDAQ:WVE) insider Chris Francis sold 1,883 shares of WAVE Life Sciences stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $13.45, for a total transaction of $25,326.35. Following the transaction, the insider directly owned 61,867 shares of the company’s stock, valued at approximately $832,111.15. This represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Chris Francis also recently made the following trade(s):

• On Friday, January 2nd, Chris Francis sold 9,375 shares of WAVE Life Sciences stock. The stock was sold at an average price of $16.03, for a total transaction of $150,281.25.
• On Monday, December 8th, Chris Francis sold 441,031 shares of WAVE Life Sciences stock. The stock was sold at an average price of $14.57, for a total value of $6,425,821.67.

WAVE Life Sciences Trading Down 2.4%

Shares of WVE stock traded down $0.32 on Wednesday, reaching $13.27. 2,543,164 shares of the company’s stock were exchanged, compared to its average volume of 3,266,049. The company’s fifty day simple moving average is $14.99 and its 200 day simple moving average is $10.38. WAVE Life Sciences Ltd. has a 52 week low of $5.28 and a 52 week high of $21.73. The stock has a market capitalization of $2.22 billion, a PE ratio of -17.69 and a beta of -1.78.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. HC Wainwright boosted their price target on WAVE Life Sciences from $22.00 to $30.00 and gave the company a “buy” rating in a report on Friday, December 19th. UBS Group set a $32.00 target price on WAVE Life Sciences in a report on Tuesday, December 16th. Canaccord Genuity Group increased their price target on WAVE Life Sciences from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Tuesday, February 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of WAVE Life Sciences in a research note on Wednesday, January 21st. Finally, Bank of America initiated coverage on shares of WAVE Life Sciences in a research note on Thursday, February 5th. They issued a “buy” rating and a $38.00 price objective for the company. Fourteen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.69.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Primecap Management Co. CA boosted its stake in WAVE Life Sciences by 115.7% in the fourth quarter. Primecap Management Co. CA now owns 4,095,282 shares of the company’s stock valued at $69,620,000 after acquiring an additional 2,196,632 shares in the last quarter. Deutsche Bank AG grew its stake in shares of WAVE Life Sciences by 1.5% during the fourth quarter. Deutsche Bank AG now owns 95,706 shares of the company’s stock worth $1,627,000 after acquiring an additional 1,441 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of WAVE Life Sciences by 3.8% during the fourth quarter. JPMorgan Chase & Co. now owns 892,886 shares of the company’s stock worth $15,179,000 after acquiring an additional 32,745 shares during the last quarter. WINTON GROUP Ltd acquired a new position in shares of WAVE Life Sciences during the fourth quarter valued at about $250,000. Finally, TD Asset Management Inc raised its position in shares of WAVE Life Sciences by 77.1% in the 4th quarter. TD Asset Management Inc now owns 252,160 shares of the company’s stock valued at $4,287,000 after purchasing an additional 109,752 shares during the last quarter. Institutional investors own 89.73% of the company’s stock.

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.