Insider Selling: WAVE Life Sciences (NASDAQ:WVE) Director Sells $42,070.00 in Stock

WAVE Life Sciences Ltd. (NASDAQ:WVE) Director Heidi Wagner sold 7,000 shares of WAVE Life Sciences stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $6.01, for a total transaction of $42,070.00. Following the transaction, the director directly owned 44,930 shares in the company, valued at approximately $270,029.30. This represents a 13.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

WAVE Life Sciences Stock Up 4.0%

Shares of NASDAQ WVE opened at $5.41 on Friday. The company has a market capitalization of $1.07 billion, a PE ratio of -4.96 and a beta of -1.26. The stock’s 50 day moving average price is $5.88 and its 200-day moving average price is $8.40. WAVE Life Sciences Ltd. has a twelve month low of $5.01 and a twelve month high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). The business had revenue of $2.27 million for the quarter, compared to analysts’ expectations of $7.45 million. WAVE Life Sciences had a negative net margin of 309.73% and a negative return on equity of 50.36%. As a group, research analysts expect that WAVE Life Sciences Ltd. will post -1.11 EPS for the current fiscal year.

Institutional Trading of WAVE Life Sciences

A number of large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of WAVE Life Sciences by 9.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,349 shares of the company’s stock valued at $463,000 after buying an additional 4,957 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of WAVE Life Sciences by 3.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 557,644 shares of the company’s stock worth $4,506,000 after acquiring an additional 20,624 shares during the period. Rhumbline Advisers grew its stake in shares of WAVE Life Sciences by 22.5% during the 2nd quarter. Rhumbline Advisers now owns 162,599 shares of the company’s stock worth $1,057,000 after acquiring an additional 29,899 shares during the period. Prudential Financial Inc. purchased a new stake in WAVE Life Sciences in the 2nd quarter worth about $80,000. Finally, Norges Bank purchased a new stake in WAVE Life Sciences in the 2nd quarter worth about $650,000. 89.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WVE. Citigroup decreased their target price on WAVE Life Sciences from $24.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Wall Street Zen downgraded shares of WAVE Life Sciences from a “hold” rating to a “strong sell” rating in a report on Saturday, August 1st. UBS Group set a $13.00 price target on shares of WAVE Life Sciences in a research report on Monday, August 3rd. Truist Financial assumed coverage on shares of WAVE Life Sciences in a report on Wednesday, April 29th. They set a “buy” rating and a $15.00 price objective for the company. Finally, Mizuho lowered their price objective on shares of WAVE Life Sciences from $27.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 4th. 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 has an average rating of “Moderate Buy” and an average target price 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.