Kyle Moran Sells 210,000 Shares of WAVE Life Sciences (NASDAQ:WVE) Stock

WAVE Life Sciences Ltd. (NASDAQ:WVE) CFO Kyle Moran sold 210,000 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $14.77, for a total value of $3,101,700.00. Following the sale, the chief financial officer owned 89,218 shares of the company’s stock, valued at approximately $1,317,749.86. The trade was a 70.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Kyle Moran also recently made the following trade(s):

• On Tuesday, December 9th, Kyle Moran sold 50,036 shares of WAVE Life Sciences stock. The shares were sold at an average price of $20.03, for a total value of $1,002,221.08.

WAVE Life Sciences Price Performance

WVE stock traded down $1.08 during trading on Wednesday, reaching $20.23. 17,639,147 shares of the stock traded hands, compared to its average volume of 11,192,010. The firm has a market capitalization of $3.38 billion, a PE ratio of -26.97 and a beta of -1.72. The business’s 50 day moving average price is $8.27 and its 200-day moving average price is $7.90. WAVE Life Sciences Ltd. has a 52-week low of $5.28 and a 52-week high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). WAVE Life Sciences had a negative net margin of 111.64% and a negative return on equity of 75.61%. The firm had revenue of $7.61 million during the quarter, compared to analyst estimates of $9.85 million. On average, equities research analysts predict that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. grew its stake in WAVE Life Sciences by 20.0% in the second 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 in the last quarter. 683 Capital Management LLC raised its stake in WAVE Life Sciences by 4.5% during the second quarter. 683 Capital Management LLC now owns 4,100,000 shares of the company’s stock valued at $26,650,000 after buying an additional 175,000 shares in the last quarter. Federated Hermes Inc. lifted its holdings in WAVE Life Sciences by 678,144.7% during the 3rd quarter. Federated Hermes Inc. now owns 3,750,693 shares of the company’s stock worth $27,455,000 after buying an additional 3,750,140 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in WAVE Life Sciences by 35.3% during the 2nd quarter. Loomis Sayles & Co. L P now owns 3,295,700 shares of the company’s stock worth $21,422,000 after buying an additional 859,160 shares during the last quarter. Finally, Emerald Advisers LLC grew its position in shares of WAVE Life Sciences by 3.9% in the 2nd quarter. Emerald Advisers LLC now owns 3,257,119 shares of the company’s stock worth $21,171,000 after acquiring an additional 123,561 shares in the last quarter. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WVE shares. Morgan Stanley set a $28.00 price target on shares of WAVE Life Sciences in a research report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of WAVE Life Sciences in a research note on Wednesday, October 8th. B. Riley reaffirmed a “buy” rating on shares of WAVE Life Sciences in a research report on Thursday, September 4th. UBS Group set a $30.00 price target on WAVE Life Sciences in a report on Tuesday. Finally, Raymond James Financial reissued an “outperform” rating and issued a $21.00 price objective on shares of WAVE Life Sciences in a research report on Monday. Twelve analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, WAVE Life Sciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.46.

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.