Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) CEO Paul Bolno sold 169,025 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $9.57, for a total value of $1,617,569.25. Following the completion of the sale, the chief executive officer now 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Wave Life Sciences Stock Up 10.8 %
Shares of WVE stock traded up $1.01 on Tuesday, hitting $10.40. The company had a trading volume of 1,545,346 shares, compared to its average volume of 1,103,269. Wave Life Sciences Ltd. has a twelve month low of $4.25 and a twelve month high of $16.74. The firm has a market cap of $1.60 billion, a P/E ratio of -9.37 and a beta of -1.04. The company has a 50-day moving average price of $11.38 and a 200-day moving average price of $11.31.
Wave Life Sciences (NASDAQ:WVE - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of ($0.17) by $0.34. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. The company had revenue of $83.75 million during the quarter, compared to analysts' expectations of $25.60 million. Equities research analysts expect that Wave Life Sciences Ltd. will post -1.14 EPS for the current year.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the stock. StockNews.com raised shares of Wave Life Sciences from a "sell" rating to a "hold" rating in a report on Saturday. HC Wainwright restated a "buy" rating and set a $22.00 price objective on shares of Wave Life Sciences in a research note on Wednesday, March 5th. Truist Financial lifted their target price on Wave Life Sciences from $17.00 to $36.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Jefferies Financial Group started coverage on shares of Wave Life Sciences in a research report on Tuesday, February 25th. They set a "buy" rating and a $26.00 price target for the company. Finally, Mizuho boosted their price objective on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock an "outperform" rating in a research note on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Wave Life Sciences presently has a consensus rating of "Moderate Buy" and an average target price of $22.60.
Check Out Our Latest Stock Report on WVE
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of WVE. Charles Schwab Investment Management Inc. grew its stake 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 in the last quarter. FMR LLC increased its holdings 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 purchasing an additional 979,110 shares during the last quarter. Maven Securities LTD purchased a new position in Wave Life Sciences during the third quarter worth about $6,970,000. Privium Fund Management B.V. acquired a new position in Wave Life Sciences in the 3rd quarter valued at about $400,000. Finally, Barclays PLC grew its stake 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 valued at $1,307,000 after buying an additional 100,498 shares during the period. Institutional investors and hedge funds own 89.73% of the company's stock.
About Wave Life Sciences
(
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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