Wave Life Sciences Ltd. (NASDAQ:WVE) Director Gregory L. Verdine Sells 30,000 Shares

Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) Director Gregory L. Verdine sold 30,000 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $6.95, for a total value of $208,500.00. Following the completion of the transaction, the director now directly owns 282,517 shares in the company, valued at $1,963,493.15. The trade was a 9.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Wave Life Sciences Trading Down 1.4%

Shares of WVE stock traded down $0.10 on Monday, hitting $6.85. 560,839 shares of the stock were exchanged, compared to its average volume of 1,320,607. The firm has a market capitalization of $1.06 billion, a P/E ratio of -6.17 and a beta of -1.04. The business has a 50-day moving average of $6.55 and a 200 day moving average of $9.65. Wave Life Sciences Ltd. has a fifty-two week low of $4.25 and a fifty-two week high of $16.74.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The firm had revenue of $9.18 million for the quarter, compared to analyst estimates of $11.65 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. During the same period in the prior year, the company earned ($0.24) earnings per share. As a group, research analysts forecast that Wave Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WVE. GF Fund Management CO. LTD. acquired a new position in Wave Life Sciences during the fourth quarter valued at approximately $40,000. Quarry LP acquired a new position in Wave Life Sciences during the fourth quarter valued at approximately $62,000. Knott David M Jr acquired a new position in Wave Life Sciences during the first quarter valued at approximately $81,000. Ascent Group LLC acquired a new position in Wave Life Sciences during the first quarter valued at approximately $83,000. Finally, Chicago Partners Investment Group LLC acquired a new position in Wave Life Sciences during the first quarter valued at approximately $103,000. 89.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on WVE shares. HC Wainwright restated a "buy" rating and issued a $22.00 price target on shares of Wave Life Sciences in a report on Wednesday, March 26th. Jefferies Financial Group started coverage on Wave Life Sciences in a report on Tuesday, February 25th. They issued a "buy" rating and a $26.00 price target for the company. Cantor Fitzgerald started coverage on Wave Life Sciences in a report on Tuesday, April 29th. They issued an "overweight" rating and a $10.00 price target for the company. Raymond James started coverage on Wave Life Sciences in a report on Wednesday, June 11th. They issued an "outperform" rating and a $14.00 price target for the company. Finally, Wedbush started coverage on Wave Life Sciences in a report on Tuesday, April 8th. They issued an "outperform" rating and a $18.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Wave Life Sciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.50.

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.