Ken Takanashi Sells 4,872 Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) Stock

Key Points

• Ken Takanashi, a director at WAVE Life Sciences Ltd., sold 4,872 shares at an average price of $8.75, resulting in a total value of $42,630, while retaining 5,716,303 shares.
• WAVE Life Sciences stock has seen a 4.9% decline recently, trading at $8.13 following an earnings report that missed analyst expectations.
• Institutional investors hold 89.73% of WAVE Life Sciences stock, with prominent firms like Vanguard and Bank of America making significant increases in their stakes.

WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) Director Ken Takanashi sold 4,872 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $8.75, for a total value of $42,630.00. Following the completion of the sale, the director owned 5,716,303 shares of the company's stock, valued at approximately $50,017,651.25. This represents a 0.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

WAVE Life Sciences Stock Down 4.9%

NASDAQ WVE traded down $0.42 on Thursday, reaching $8.13. The stock had a trading volume of 1,195,158 shares, compared to its average volume of 1,805,055. The stock has a fifty day moving average price of $7.42 and a two-hundred day moving average price of $8.24. WAVE Life Sciences Ltd. has a 12-month low of $5.04 and a 12-month high of $16.74. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -9.03 and a beta of -0.95.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.02). The firm had revenue of $8.70 million for the quarter, compared to analyst estimates of $11.52 million. Sell-side analysts forecast that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC acquired a new position in shares of WAVE Life Sciences in the fourth quarter valued at approximately $256,000. Vanguard Group Inc. raised its position in WAVE Life Sciences by 10.2% during the 4th quarter. Vanguard Group Inc. now owns 3,182,512 shares of the company's stock worth $39,368,000 after buying an additional 294,956 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of WAVE Life Sciences by 23.9% during the first quarter. Principal Financial Group Inc. now owns 308,044 shares of the company's stock worth $2,489,000 after acquiring an additional 59,399 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in WAVE Life Sciences by 23.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,392 shares of the company's stock worth $648,000 after purchasing an additional 9,907 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in WAVE Life Sciences by 58.5% in the 4th quarter. Bank of America Corp DE now owns 435,896 shares of the company's stock valued at $5,392,000 after purchasing an additional 160,820 shares in the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Raymond James Financial started coverage on shares of WAVE Life Sciences in a research report on Wednesday, June 11th. They issued an "outperform" rating and a $14.00 price target for the company. Wall Street Zen cut WAVE Life Sciences from a "hold" rating to a "sell" rating in a research report on Friday, May 9th. Citigroup assumed coverage on WAVE Life Sciences in a report on Wednesday, July 16th. They issued a "buy" rating and a $16.00 price target for the company. Cantor Fitzgerald assumed coverage on shares of WAVE Life Sciences in a research report on Tuesday, April 29th. They set an "overweight" rating and a $10.00 price target for the company. Finally, Wells Fargo & Company lowered their target price on shares of WAVE Life Sciences from $24.00 to $21.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, WAVE Life Sciences presently has a consensus rating of "Moderate Buy" and an average price target of $20.27.

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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