Wave Life Sciences Ltd. (NASDAQ:WVE) CFO Sells $154,314.00 in Stock

Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) CFO Kyle Moran sold 17,146 shares of the business's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total transaction of $154,314.00. Following the sale, the chief financial officer now owns 19,777 shares in the company, valued at $177,993. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Wave Life Sciences Trading Up 3.4 %

Shares of WVE stock traded up $0.27 during mid-day trading on Friday, reaching $8.29. The stock had a trading volume of 4,065,464 shares, compared to its average volume of 986,573. Wave Life Sciences Ltd. has a 12-month low of $3.50 and a 12-month high of $9.92. The company has a market cap of $1.02 billion, a P/E ratio of -15.94 and a beta of -1.13. The business has a 50-day simple moving average of $6.03 and a 200 day simple moving average of $5.85.

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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. HC Wainwright upped their target price on shares of Wave Life Sciences from $15.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday. Mizuho reaffirmed an "outperform" rating and issued a $19.00 price target on shares of Wave Life Sciences in a report on Tuesday, June 25th. B. Riley initiated coverage on Wave Life Sciences in a 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 Wave Life Sciences in a report on Friday. They set an "overweight" rating and a $13.00 price target for the company. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $13.75.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. increased its position in Wave Life Sciences by 50.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company's stock worth $45,000 after purchasing an additional 2,451 shares in the last quarter. Profund Advisors LLC purchased a new stake in Wave Life Sciences during the 2nd quarter worth about $53,000. Principal Financial Group Inc. purchased a new stake in Wave Life Sciences during the 2nd quarter worth about $74,000. Mackenzie Financial Corp increased its position in Wave Life Sciences by 13.6% during the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company's stock worth $79,000 after purchasing an additional 1,905 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in Wave Life Sciences during the 4th quarter worth about $86,000. Hedge funds and other institutional investors own 89.73% of the company's stock.

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.

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