Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) Director Gregory L. Verdine sold 30,000 shares of the firm's 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 sale, the director now directly owns 282,517 shares in the company, valued at $1,963,493.15. This trade represents a 9.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Wave Life Sciences Stock Down 3.5%
Wave Life Sciences stock traded down $0.25 during trading hours on Friday, reaching $6.95. 672,535 shares of the company's stock were exchanged, compared to its average volume of 1,319,842. The firm's 50 day simple moving average is $6.52 and its 200 day simple moving average is $9.78. 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 capitalization of $1.07 billion, a PE ratio of -6.26 and a beta of -1.04.
Wave Life Sciences (NASDAQ:WVE - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The business 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 business earned ($0.24) EPS. Analysts anticipate that Wave Life Sciences Ltd. will post -1.14 EPS for the current year.
Institutional Trading of Wave Life Sciences
Large investors have recently modified their holdings of the stock. Squarepoint Ops LLC acquired a new stake in Wave Life Sciences in the fourth quarter worth $256,000. Arizona State Retirement System boosted its position in shares of Wave Life Sciences by 34.2% during the 4th quarter. Arizona State Retirement System now owns 30,769 shares of the company's stock worth $381,000 after purchasing an additional 7,846 shares in the last quarter. Corebridge Financial Inc. boosted its position in shares of Wave Life Sciences by 10.7% during the 4th quarter. Corebridge Financial Inc. now owns 45,824 shares of the company's stock worth $567,000 after purchasing an additional 4,423 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Wave Life Sciences by 10.2% in the 4th quarter. Vanguard Group Inc. now owns 3,182,512 shares of the company's stock valued at $39,368,000 after buying an additional 294,956 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Wave Life Sciences by 23.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,392 shares of the company's stock valued at $648,000 after buying an additional 9,907 shares in the last quarter. Institutional investors and hedge funds own 89.73% of the company's stock.
Analyst Ratings Changes
Several equities analysts have commented on WVE shares. Cantor Fitzgerald assumed coverage on Wave Life Sciences in a research report on Tuesday, April 29th. They issued an "overweight" rating and a $10.00 target price for the company. Wedbush started coverage on shares of Wave Life Sciences in a report on Tuesday, April 8th. They issued an "outperform" rating and a $18.00 price objective for the company. Raymond James started coverage on shares of Wave Life Sciences in a research report on Wednesday. They set an "outperform" rating and a $14.00 target price on the stock. Wall Street Zen cut shares of Wave Life Sciences from a "hold" rating to a "sell" rating in a research report on Friday, May 9th. Finally, HC Wainwright reiterated a "buy" rating and set a $22.00 price target on shares of Wave Life Sciences in a report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.50.
Read Our Latest Analysis on Wave Life Sciences
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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