WAVE Life Sciences (NASDAQ:WVE) Director Adrian Rawcliffe Sells 12,700 Shares

Key Points

• Director Adrian Rawcliffe sold 12,700 WAVE Life Sciences shares at an average price of $5.29, for total proceeds of approximately $67,183.
• WVE shares fell 0.8% to $5.20 and are near their 12-month low of $5.01. The company recently reported a quarterly loss of $0.34 per share and revenue of $2.27 million, both weaker than analyst expectations.
• Analysts maintain a “Moderate Buy” consensus with a $22.53 target price, while institutional investors own 89.73% of the stock.

WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) Director Adrian Rawcliffe sold 12,700 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $5.29, for a total transaction of $67,183.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

WAVE Life Sciences Stock Down 0.8%

Shares of NASDAQ:WVE traded down $0.04 during midday trading on Thursday, hitting $5.20. The stock had a trading volume of 6,048,504 shares, compared to its average volume of 2,757,944. WAVE Life Sciences Ltd. has a 12 month low of $5.01 and a 12 month high of $21.73. The business's 50-day simple moving average is $5.88 and its 200-day simple moving average is $8.42. The company has a market cap of $1.02 billion, a P/E ratio of -4.77 and a beta of -1.26.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.34) earnings per share for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.04). WAVE Life Sciences had a negative net margin of 309.73% and a negative return on equity of 50.36%. The business had revenue of $2.27 million during the quarter, compared to analyst estimates of $7.45 million. As a group, equities analysts predict that WAVE Life Sciences Ltd. will post -1.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WVE. New Street Research set a $13.00 target price on shares of WAVE Life Sciences in a research note on Thursday, June 11th. HC Wainwright reiterated a "buy" rating on shares of WAVE Life Sciences in a research report on Monday, August 3rd. Weiss Ratings restated a "sell (d-)" rating on shares of WAVE Life Sciences in a report on Friday, July 17th. UBS Group set a $13.00 price target on shares of WAVE Life Sciences in a research report on Monday, August 3rd. Finally, Truist Financial began coverage on WAVE Life Sciences in a report on Wednesday, April 29th. They issued a "buy" rating and a $15.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.53.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WVE. GSK plc bought a new stake in shares of WAVE Life Sciences during the fourth quarter valued at approximately $310,177,000. Darwin Global Management Ltd. bought a new position in WAVE Life Sciences in the fourth quarter worth approximately $125,168,000. Price T Rowe Associates Inc. MD increased its holdings in WAVE Life Sciences by 83.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,407,372 shares of the company's stock worth $125,927,000 after purchasing an additional 3,362,880 shares during the period. Adage Capital Partners GP L.L.C. increased its holdings in WAVE Life Sciences by 20.0% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 15,016,500 shares of the company's stock worth $97,607,000 after purchasing an additional 2,500,000 shares during the period. Finally, Primecap Management Co. CA raised its position in WAVE Life Sciences by 115.7% during the 4th quarter. Primecap Management Co. CA now owns 4,095,282 shares of the company's stock valued at $69,620,000 after purchasing an additional 2,196,632 shares in the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

About WAVE Life Sciences

WAVE Life Sciences is a clinical-stage genetic medicines company focused on the discovery and development of stereopure oligonucleotide therapies designed to address serious diseases with high unmet medical need. Leveraging proprietary chemistry and precision synthesis, WAVE engineers drug candidates with defined stereochemistry to optimize potency, safety and manufacturability. This approach aims to enhance target specificity and improve therapeutic profiles compared with traditional oligonucleotide medicines.

The company's pipeline includes programs in neuromuscular disorders such as Duchenne muscular dystrophy and neurodegenerative conditions including Huntington's disease, as well as early-stage cardiovascular and liver indications.

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