WAVE Life Sciences (NASDAQ:WVE) Director Adrian Rawcliffe Sells 42,000 Shares

WAVE Life Sciences Ltd. (NASDAQ:WVE) Director Adrian Rawcliffe sold 42,000 shares of WAVE Life Sciences stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $15.00, for a total value of $630,000.00. Following the completion of the transaction, the director owned 12,700 shares of the company’s stock, valued at approximately $190,500. This trade represents a 76.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Adrian Rawcliffe also recently made the following trade(s):

• On Thursday, November 13th, Adrian Rawcliffe sold 16,115 shares of WAVE Life Sciences stock. The shares were sold at an average price of $6.79, for a total value of $109,420.85.

WAVE Life Sciences Stock Performance

NASDAQ WVE traded down $1.08 on Wednesday, hitting $20.23. 17,639,147 shares of the stock were exchanged, compared to its average volume of 11,192,010. WAVE Life Sciences Ltd. has a 52-week low of $5.28 and a 52-week high of $21.73. The firm has a market capitalization of $3.38 billion, a P/E ratio of -26.97 and a beta of -1.72. The stock has a fifty day moving average price of $8.27 and a two-hundred day moving average price of $7.90.

WAVE Life Sciences (NASDAQ:WVE) last announced its earnings results 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). The firm had revenue of $7.61 million during the quarter, compared to analysts’ expectations of $9.85 million. WAVE Life Sciences had a negative net margin of 111.64% and a negative return on equity of 75.61%. Sell-side analysts expect that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WVE. Federated Hermes Inc. increased 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 purchasing an additional 3,750,140 shares during the period. Adage Capital Partners GP L.L.C. lifted its holdings in shares of WAVE Life Sciences by 30.1% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 12,516,500 shares of the company’s stock worth $101,133,000 after buying an additional 2,894,396 shares during the period. Loomis Sayles & Co. L P grew its position in shares of 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 in the last quarter. Stempoint Capital LP increased its stake in shares of WAVE Life Sciences by 902.2% during the second quarter. Stempoint Capital LP now owns 900,338 shares of the company’s stock valued at $5,852,000 after buying an additional 810,505 shares during the period. Finally, Kennedy Capital Management LLC raised its holdings in shares of WAVE Life Sciences by 1,489.5% in the third quarter. Kennedy Capital Management LLC now owns 540,437 shares of the company’s stock valued at $3,956,000 after acquiring an additional 506,437 shares in the last quarter. Institutional investors own 89.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WVE. HC Wainwright reissued a “buy” rating and issued a $22.00 price objective on shares of WAVE Life Sciences in a research report on Wednesday, September 3rd. Royal Bank Of Canada upgraded WAVE Life Sciences from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $9.00 to $27.00 in a report on Monday. B. Riley restated a “buy” rating on shares of WAVE Life Sciences in a report on Thursday, September 4th. Canaccord Genuity Group upped their price objective on WAVE Life Sciences from $19.00 to $40.00 and gave the company a “buy” rating in a research report on Monday. Finally, Raymond James Financial reiterated an “outperform” rating and set a $21.00 target price on shares of WAVE Life Sciences in a research report on Monday. Twelve research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.46.

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.