Wave Life Sciences Ltd. (NASDAQ:WVE) Director Sells $102,585.00 in Stock

Wave Life Sciences Ltd. (NASDAQ:WVE) Director Christian O. Henry sold 10,500 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $9.77, for a total value of $102,585.00. Following the sale, the director now directly owns 16,115 shares in the company, valued at $157,443.55. This trade represents a 39.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Wave Life Sciences Trading Down 0.8 %

Shares of WVE stock opened at $9.59 on Friday. The business’s 50 day moving average is $10.92 and its two-hundred day moving average is $11.55. Wave Life Sciences Ltd. has a twelve month low of $4.25 and a twelve month high of $16.74. The company has a market capitalization of $1.47 billion, a P/E ratio of -8.64 and a beta of -1.04.

Wave Life Sciences (NASDAQ:WVE) last announced its earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.34. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. The company had revenue of $83.75 million for the quarter, compared to the consensus estimate of $25.60 million. As a group, equities analysts predict that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Intech Investment Management LLC purchased a new stake in shares of Wave Life Sciences in the third quarter valued at approximately $194,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Wave Life Sciences by 209.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 844,617 shares of the company’s stock valued at $6,926,000 after buying an additional 571,345 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Wave Life Sciences by 20.3% in the third quarter. The Manufacturers Life Insurance Company now owns 168,141 shares of the company’s stock valued at $1,379,000 after buying an additional 28,351 shares in the last quarter. FMR LLC boosted its stake in shares of Wave Life Sciences by 174.5% in the third quarter. FMR LLC now owns 1,540,190 shares of the company’s stock valued at $12,630,000 after buying an additional 979,110 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Wave Life Sciences by 477.7% in the third quarter. BNP Paribas Financial Markets now owns 41,828 shares of the company’s stock valued at $343,000 after buying an additional 34,588 shares in the last quarter. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on WVE. HC Wainwright reissued a “buy” rating and set a $22.00 target price on shares of Wave Life Sciences in a research report on Wednesday, March 5th. StockNews.com upgraded Wave Life Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Jefferies Financial Group initiated coverage on Wave Life Sciences in a research note on Tuesday, February 25th. They set a “buy” rating and a $26.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.60.

About Wave Life Sciences

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.