Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) CEO Paul Bolno sold 169,025 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the sale, the chief executive officer now directly owns 338,351 shares of the company's stock, valued at $3,238,019.07. This represents a 33.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Wave Life Sciences Trading Down 7.7 %
Shares of Wave Life Sciences stock opened at $9.40 on Friday. The stock has a fifty day simple moving average of $11.44 and a 200 day simple moving average of $11.21. Wave Life Sciences Ltd. has a 12-month low of $4.25 and a 12-month high of $16.74. The company has a market capitalization of $1.43 billion, a P/E ratio of -8.47 and a beta of -1.09.
Wave Life Sciences (NASDAQ:WVE - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of ($0.17) by $0.34. The firm had revenue of $83.75 million for the quarter, compared to analysts' expectations of $25.60 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. On average, analysts predict that Wave Life Sciences Ltd. will post -1.14 EPS for the current year.
Hedge Funds Weigh In On Wave Life Sciences
Several institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in Wave Life Sciences by 209.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,617 shares of the company's stock valued at $6,926,000 after acquiring an additional 571,345 shares during the period. FMR LLC increased its position in Wave Life Sciences by 174.5% during the 3rd 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. Maven Securities LTD bought a new position in Wave Life Sciences during the 3rd quarter valued at approximately $6,970,000. Privium Fund Management B.V. bought a new stake in shares of Wave Life Sciences in the 3rd quarter worth $400,000. Finally, Barclays PLC increased its holdings in shares of Wave Life Sciences by 171.1% in the 3rd quarter. Barclays PLC now owns 159,241 shares of the company's stock worth $1,307,000 after purchasing an additional 100,498 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have commented on the company. Jefferies Financial Group assumed coverage on Wave Life Sciences in a report on Tuesday, February 25th. They set a "buy" rating and a $26.00 price target on the stock. StockNews.com raised Wave Life Sciences from a "sell" rating to a "hold" rating in a report on Saturday. Truist Financial lifted their price target on Wave Life Sciences from $17.00 to $36.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Mizuho lifted their price target on Wave Life Sciences from $19.00 to $22.00 and gave the company an "outperform" rating in a report on Thursday, November 21st. Finally, HC Wainwright reiterated a "buy" rating and issued a $22.00 price objective on shares of Wave Life Sciences in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Wave Life Sciences has a consensus rating of "Moderate Buy" and a consensus price target of $22.60.
View Our Latest Stock Report on Wave Life Sciences
Wave Life Sciences Company Profile
(
Get Free Report)
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.
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