Kyle Moran Sells 17,146 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) Stock

Wave Life Sciences Ltd. (NASDAQ:WVE) CFO Kyle Moran sold 17,146 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total transaction of $154,314.00. Following the transaction, the chief financial officer now directly owns 19,777 shares of the company’s stock, valued at approximately $177,993. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Wave Life Sciences Price Performance

Wave Life Sciences stock opened at $8.29 on Friday. Wave Life Sciences Ltd. has a one year low of $3.50 and a one year high of $9.92. The business’s fifty day moving average is $6.03 and its 200 day moving average is $5.85. The stock has a market capitalization of $1.02 billion, a PE ratio of -15.94 and a beta of -1.13.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. The company had revenue of $19.69 million during the quarter, compared to the consensus estimate of $24.80 million. During the same quarter in the prior year, the firm earned ($0.20) earnings per share. As a group, sell-side analysts expect that Wave Life Sciences Ltd. will post -1.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on WVE shares. Mizuho restated an “outperform” rating and issued a $19.00 price target on shares of Wave Life Sciences in a research note on Tuesday, June 25th. HC Wainwright increased their target price on Wave Life Sciences from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday. B. Riley began coverage on Wave Life Sciences in a research report on Thursday, September 19th. They issued a “buy” rating and a $11.00 price target for the company. Finally, JPMorgan Chase & Co. initiated coverage on shares of Wave Life Sciences in a research report on Friday. They set an “overweight” rating and a $13.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Wave Life Sciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.75.

Hedge Funds Weigh In On Wave Life Sciences

A number of institutional investors and hedge funds have recently modified their holdings of the company. Artal Group S.A. increased its position in Wave Life Sciences by 34.7% during the first quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock valued at $24,997,000 after acquiring an additional 1,044,000 shares during the last quarter. Emerald Advisers LLC purchased a new stake in shares of Wave Life Sciences during the 2nd quarter valued at about $12,441,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Wave Life Sciences by 14.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,861,254 shares of the company’s stock worth $11,485,000 after purchasing an additional 233,891 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Wave Life Sciences by 39.7% in the first quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock worth $11,316,000 after buying an additional 521,665 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in shares of Wave Life Sciences in the second quarter worth approximately $9,086,000. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

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.