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 WAVE Life Sciences stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $8.81, for a total transaction of $85,192.70. Following the transaction, the director directly owned 29,645 shares in the company, valued at approximately $261,172.45. This represents a 24.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

WAVE Life Sciences Price Performance

WVE stock traded down $0.02 during midday trading on Monday, reaching $9.74. The company had a trading volume of 520,590 shares, compared to its average volume of 1,319,992. The firm has a 50-day moving average price of $7.67 and a 200-day moving average price of $8.06. The company has a market capitalization of $1.55 billion, a P/E ratio of -10.81 and a beta of -0.95. WAVE Life Sciences Ltd. has a 1 year low of $5.04 and a 1 year high of $16.74.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported ($0.31) EPS for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.02). The company had revenue of $8.70 million during the quarter, compared to analyst estimates of $11.52 million. On average, equities analysts predict that WAVE Life Sciences Ltd. will post -1.14 EPS for the current year.

Hedge Funds Weigh In On WAVE Life Sciences

Institutional investors have recently modified their holdings of the company. GF Fund Management CO. LTD. bought a new stake in WAVE Life Sciences in the 4th quarter worth approximately $40,000. Quarry LP purchased a new position in shares of WAVE Life Sciences during the fourth quarter worth approximately $62,000. Ameritas Investment Partners Inc. lifted its holdings in shares of WAVE Life Sciences by 18.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company's stock worth $74,000 after acquiring an additional 1,802 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of WAVE Life Sciences by 44.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company's stock worth $76,000 after acquiring an additional 3,609 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in shares of WAVE Life Sciences in the 2nd quarter valued at $80,000. 89.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on WVE shares. Wells Fargo & Company cut their price target 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. Wedbush reiterated an "outperform" rating and issued a $18.00 target price on shares of WAVE Life Sciences in a research note on Monday, June 23rd. Citigroup assumed coverage on shares of WAVE Life Sciences in a research note on Wednesday, July 16th. They set a "buy" rating and a $16.00 price target for the company. Raymond James Financial initiated coverage on WAVE Life Sciences in a research report on Wednesday, June 11th. They set an "outperform" rating and a $14.00 price target on the stock. Finally, Cantor Fitzgerald assumed coverage on WAVE Life Sciences in a report on Tuesday, April 29th. They issued an "overweight" rating and a $10.00 price objective for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.