WAVE Life Sciences Ltd. (NASDAQ:WVE) Director Sells $85,192.70 in Stock

Key Points

• Director Sale: Christian O. Henry, a director of WAVE Life Sciences, sold 9,670 shares at an average price of $8.81, totaling $85,192.70, decreasing his holdings by 24.60% to 29,645 shares.
• Stock Performance: WAVE Life Sciences shares experienced a 3.7% increase, trading at $8.76, with a 12-month price range between $5.04 and $16.74.
• Earnings Report: The company reported a loss of ($0.31) per share for the last quarter, missing analyst forecasts, with revenue at $8.70 million against expectations of $11.52 million.

WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) Director Christian O. Henry sold 9,670 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $8.81, for a total transaction of $85,192.70. Following the sale, the director owned 29,645 shares of the company's stock, valued at $261,172.45. The trade was a 24.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

WAVE Life Sciences Trading Up 3.7%

Shares of WAVE Life Sciences stock traded up $0.31 during midday trading on Wednesday, hitting $8.76. 1,583,893 shares of the company traded hands, compared to its average volume of 1,747,442. The firm's fifty day moving average price is $7.57 and its 200-day moving average price is $8.15. WAVE Life Sciences Ltd. has a 12 month low of $5.04 and a 12 month high of $16.74.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported ($0.31) earnings per share for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.02). The business had revenue of $8.70 million for the quarter, compared to analysts' expectations of $11.52 million. Equities research analysts forecast that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Virtus Investment Advisers LLC raised its stake in shares of WAVE Life Sciences by 10.2% during the second quarter. Virtus Investment Advisers LLC now owns 13,060 shares of the company's stock valued at $85,000 after acquiring an additional 1,210 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in WAVE Life Sciences by 9.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,673 shares of the company's stock worth $151,000 after buying an additional 1,564 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in WAVE Life Sciences by 18.7% during the second quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company's stock worth $74,000 after buying an additional 1,802 shares during the last quarter. Teacher Retirement System of Texas increased its stake in WAVE Life Sciences by 8.2% in the second quarter. Teacher Retirement System of Texas now owns 28,955 shares of the company's stock valued at $188,000 after purchasing an additional 2,206 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in WAVE Life Sciences by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 247,251 shares of the company's stock valued at $1,998,000 after purchasing an additional 2,278 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on WVE shares. Canaccord Genuity Group assumed coverage on WAVE Life Sciences in a research note on Monday, August 4th. They set a "buy" rating and a $19.00 price objective for the company. Citigroup started coverage on shares of WAVE Life Sciences in a research note on Wednesday, July 16th. They issued a "buy" rating and a $16.00 target price for the company. 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. Wedbush reissued an "outperform" rating and set a $18.00 price target on shares of WAVE Life Sciences in a research report on Monday, June 23rd. Finally, Wells Fargo & Company dropped 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 report on Thursday, July 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, WAVE Life Sciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.27.

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.

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