WAVE Life Sciences (NASDAQ:WVE) Insider Chris Francis Sells 33,194 Shares

WAVE Life Sciences Ltd. (NASDAQ:WVE) insider Chris Francis sold 33,194 shares of the firm’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $15.05, for a total value of $499,569.70. Following the sale, the insider owned 61,867 shares of the company’s stock, valued at $931,098.35. The trade was a 34.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Monday, February 9th, Chris Francis sold 1,883 shares of WAVE Life Sciences stock. The shares were sold at an average price of $13.45, for a total value of $25,326.35.
• 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 shares were sold at an average price of $14.57, for a total transaction of $6,425,821.67.

WAVE Life Sciences Trading Down 9.3%

WVE stock traded down $1.43 during midday trading on Friday, reaching $13.93. The company had a trading volume of 3,736,850 shares, compared to its average volume of 2,440,287. WAVE Life Sciences Ltd. has a 1 year low of $5.28 and a 1 year high of $21.73. The company has a market capitalization of $2.33 billion, a P/E ratio of -11.42 and a beta of -1.78. The company has a 50 day moving average of $14.45 and a two-hundred day moving average of $10.79.

WAVE Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.02). WAVE Life Sciences had a negative net margin of 478.35% and a negative return on equity of 140.75%. The company had revenue of $17.25 million for the quarter. On average, sell-side analysts anticipate that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WVE. Cantor Fitzgerald lifted their price target on WAVE Life Sciences from $34.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Canaccord Genuity Group lifted their target price on shares of WAVE Life Sciences from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. Raymond James Financial restated an “outperform” rating and set a $21.00 price target on shares of WAVE Life Sciences in a research note on Monday, December 8th. Wedbush lifted their price objective on shares of WAVE Life Sciences from $20.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Finally, Royal Bank Of Canada upgraded shares of WAVE Life Sciences from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $9.00 to $27.00 in a report on Monday, December 8th. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WVE. Virtus Investment Advisers LLC raised its holdings in WAVE Life Sciences by 10.2% in the 2nd quarter. Virtus Investment Advisers LLC now owns 13,060 shares of the company’s stock worth $85,000 after acquiring an additional 1,210 shares during the period. Deutsche Bank AG increased its stake in shares of WAVE Life Sciences by 1.5% in the fourth quarter. Deutsche Bank AG now owns 95,706 shares of the company’s stock worth $1,627,000 after purchasing an additional 1,441 shares during the period. Ameritas Investment Partners Inc. lifted its position in shares of WAVE Life Sciences by 18.7% during the 2nd 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 last quarter. Smartleaf Asset Management LLC boosted its stake in WAVE Life Sciences by 645.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,243 shares of the company’s stock valued at $38,000 after purchasing an additional 1,942 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in WAVE Life Sciences by 32.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,124 shares of the company’s stock valued at $138,000 after purchasing an additional 1,972 shares during the period. 89.73% of the stock is currently 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.