Insider Selling: Wave Life Sciences Ltd. (NASDAQ:WVE) Director Sells $208,500.00 in Stock

Wave Life Sciences Ltd. (NASDAQ:WVE) Director Gregory L. Verdine sold 30,000 shares of Wave Life Sciences stock in a transaction on Friday, June 13th. The stock was sold at an average price of $6.95, for a total transaction of $208,500.00. Following the sale, the director now directly owns 282,517 shares of the company’s stock, valued at approximately $1,963,493.15. This trade represents a 9.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Wave Life Sciences Stock Performance

Shares of WVE opened at $6.95 on Monday. Wave Life Sciences Ltd. has a fifty-two week low of $4.25 and a fifty-two week high of $16.74. The company has a market capitalization of $1.07 billion, a PE ratio of -6.26 and a beta of -1.04. The stock has a fifty day moving average of $6.52 and a two-hundred day moving average of $9.71.

Wave Life Sciences (NASDAQ:WVE) last released its earnings results on Thursday, May 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.02). Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. The business had revenue of $9.18 million for the quarter, compared to analysts’ expectations of $11.65 million. During the same quarter last year, the company posted ($0.24) earnings per share. As a group, equities research analysts forecast that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. increased its position in Wave Life Sciences by 30.1% during the first quarter. Adage Capital Partners GP L.L.C. now owns 12,516,500 shares of the company’s stock worth $101,133,000 after purchasing an additional 2,894,396 shares during the last quarter. Driehaus Capital Management LLC boosted its holdings in Wave Life Sciences by 14.6% in the fourth quarter. Driehaus Capital Management LLC now owns 6,712,449 shares of the company’s stock valued at $83,033,000 after acquiring an additional 853,589 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Wave Life Sciences by 63.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,098,866 shares of the company’s stock valued at $63,074,000 after acquiring an additional 1,972,262 shares during the period. 683 Capital Management LLC increased its stake in Wave Life Sciences by 3.7% during the first quarter. 683 Capital Management LLC now owns 3,925,000 shares of the company’s stock worth $31,714,000 after acquiring an additional 140,000 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Wave Life Sciences by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 3,206,403 shares of the company’s stock worth $25,908,000 after purchasing an additional 23,891 shares during the period. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on WVE shares. Raymond James assumed coverage on Wave Life Sciences in a report on Wednesday, June 11th. They issued an “outperform” rating and a $14.00 price objective for the company. Jefferies Financial Group started coverage on Wave Life Sciences in a report on Tuesday, February 25th. They set a “buy” rating and a $26.00 price objective on the stock. Wedbush started coverage on Wave Life Sciences in a research note on Tuesday, April 8th. They set an “outperform” rating and a $18.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $22.00 target price on shares of Wave Life Sciences in a report on Wednesday, March 26th. Finally, Cantor Fitzgerald initiated coverage on Wave Life Sciences in a research note on Tuesday, April 29th. They set an “overweight” rating and a $10.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Wave Life Sciences Company Profile

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.