WAVE Life Sciences (NASDAQ:WVE) CEO Paul Bolno Sells 217,351 Shares

WAVE Life Sciences Ltd. (NASDAQ:WVE) CEO Paul Bolno sold 217,351 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $10.10, for a total transaction of $2,195,245.10. Following the sale, the chief executive officer directly owned 121,000 shares in the company, valued at $1,222,100. This trade represents a 64.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

WAVE Life Sciences Price Performance

Shares of WVE opened at $9.97 on Wednesday. The firm has a market capitalization of $1.59 billion, a PE ratio of -11.08 and a beta of -0.95. WAVE Life Sciences Ltd. has a 1-year low of $5.04 and a 1-year high of $16.74. The company’s fifty day moving average price is $8.06 and its 200-day moving average price is $7.99.

WAVE Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Wednesday, July 30th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.02). The firm had revenue of $8.70 million for the quarter, compared to analysts’ expectations of $11.52 million. As a group, research analysts anticipate that WAVE Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. GF Fund Management CO. LTD. acquired a new position in shares of WAVE Life Sciences in the fourth quarter worth about $40,000. Quarry LP acquired a new position in shares of WAVE Life Sciences during the 4th quarter worth about $62,000. Knott David M Jr acquired a new position in shares of WAVE Life Sciences during the 1st quarter worth about $81,000. Ascent Group LLC acquired a new position in shares of WAVE Life Sciences during the 1st quarter worth about $83,000. Finally, Ameriprise Financial Inc. acquired a new position in shares of WAVE Life Sciences during the 4th quarter worth about $129,000. Institutional investors and hedge funds own 89.73% of the company’s stock.

Wall Street Analyst Weigh In

WVE has been the topic of several recent research reports. Oppenheimer initiated coverage on shares of WAVE Life Sciences in a report on Monday, July 28th. They issued an “outperform” rating and a $24.00 price target on the stock. Wall Street Zen lowered shares of WAVE Life Sciences from a “hold” rating to a “sell” rating in a report on Friday, May 9th. Wedbush reaffirmed an “outperform” rating and issued a $18.00 price target on shares of WAVE Life Sciences in a report on Monday, June 23rd. Canaccord Genuity Group initiated coverage on shares of WAVE Life Sciences in a report on Monday, August 4th. They issued a “buy” rating and a $19.00 price target on the stock. Finally, Wells Fargo & Company lowered their price target on shares of WAVE Life Sciences from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. Fourteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, WAVE Life Sciences currently has an average rating of “Moderate Buy” and an average target price of $20.27.

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.