Insider Selling: WAVE Life Sciences (NASDAQ:WVE) Director Sells 16,115 Shares of Stock

WAVE Life Sciences Ltd. (NASDAQ:WVE) Director Adrian Rawcliffe sold 16,115 shares of WAVE Life Sciences stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $6.79, for a total value of $109,420.85. Following the completion of the transaction, the director owned 12,700 shares in the company, valued at $86,233. This trade represents a 55.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

WAVE Life Sciences Trading Up 6.1%

Shares of NASDAQ:WVE traded up $0.41 during trading on Friday, reaching $7.08. The stock had a trading volume of 2,323,389 shares, compared to its average volume of 1,709,603. The firm’s 50-day simple moving average is $7.41 and its 200 day simple moving average is $7.55. WAVE Life Sciences Ltd. has a one year low of $5.28 and a one year high of $16.38. The company has a market capitalization of $1.13 billion, a P/E ratio of -7.87 and a beta of -1.44.

WAVE Life Sciences (NASDAQ:WVE) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The company had revenue of $7.61 million for the quarter, compared to analysts’ expectations of $9.85 million. Equities research analysts forecast that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On WAVE Life Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. lifted its stake in shares of WAVE Life Sciences by 1,156.3% in the 3rd quarter. Bessemer Group Inc. now owns 9,925 shares of the company’s stock valued at $72,000 after purchasing an additional 9,135 shares during the period. Russell Investments Group Ltd. increased its holdings in WAVE Life Sciences by 1,441.6% in the third quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company’s stock valued at $73,000 after buying an additional 9,284 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in WAVE Life Sciences by 18.7% in the second quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company’s stock valued at $74,000 after buying an additional 1,802 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of WAVE Life Sciences by 44.8% in the second quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company’s stock worth $76,000 after acquiring an additional 3,609 shares during the period. Finally, Prudential Financial Inc. purchased a new stake in shares of WAVE Life Sciences during the 2nd quarter worth about $80,000. Institutional investors and hedge funds own 89.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. B. Riley reiterated a “buy” rating on shares of WAVE Life Sciences in a report on Thursday, September 4th. HC Wainwright restated a “buy” rating and issued a $22.00 target price on shares of WAVE Life Sciences in a research note on Wednesday, September 3rd. Leerink Partners set a $26.00 price target on WAVE Life Sciences in a research report on Wednesday, September 3rd. Wedbush increased their price objective on WAVE Life Sciences from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WAVE Life Sciences in a report on Wednesday, October 8th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, WAVE Life Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $19.73.

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.