WAVE Life Sciences (NASDAQ:WVE) Director Heidi Wagner Sells 7,000 Shares

WAVE Life Sciences Ltd. (NASDAQ:WVE) Director Heidi Wagner sold 7,000 shares of WAVE Life Sciences stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $6.01, for a total transaction of $42,070.00. Following the completion of the sale, the director directly owned 44,930 shares in the company, valued at $270,029.30. This trade represents a 13.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

WAVE Life Sciences Trading Down 0.8%

Shares of WVE stock traded down $0.04 during trading hours on Thursday, reaching $5.20. The stock had a trading volume of 6,048,504 shares, compared to its average volume of 2,757,944. The firm has a market capitalization of $1.02 billion, a PE ratio of -4.77 and a beta of -1.26. WAVE Life Sciences Ltd. has a 12 month low of $5.01 and a 12 month high of $21.73. The stock’s fifty day simple moving average is $5.88 and its 200 day simple moving average is $8.42.

WAVE Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). The business had revenue of $2.27 million for the quarter, compared to the consensus estimate of $7.45 million. WAVE Life Sciences had a negative net margin of 309.73% and a negative return on equity of 50.36%. As a group, equities research analysts anticipate that WAVE Life Sciences Ltd. will post -1.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of WAVE Life Sciences in a research note on Friday, July 17th. UBS Group set a $13.00 price objective on shares of WAVE Life Sciences in a research report on Monday, August 3rd. Wells Fargo & Company lifted their target price on WAVE Life Sciences from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Truist Financial assumed coverage on WAVE Life Sciences in a research note on Wednesday, April 29th. They set a “buy” rating and a $15.00 price target on the stock. Finally, Citigroup lowered their target price on WAVE Life Sciences from $24.00 to $19.00 and set a “buy” rating for the company in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.53.

Hedge Funds Weigh In On WAVE Life Sciences

Several large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of WAVE Life Sciences by 9.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,349 shares of the company’s stock worth $463,000 after purchasing an additional 4,957 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of WAVE Life Sciences by 3.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 557,644 shares of the company’s stock worth $4,506,000 after buying an additional 20,624 shares during the last quarter. Rhumbline Advisers raised its position in WAVE Life Sciences by 22.5% in the second quarter. Rhumbline Advisers now owns 162,599 shares of the company’s stock valued at $1,057,000 after purchasing an additional 29,899 shares during the period. Prudential Financial Inc. purchased a new position in shares of WAVE Life Sciences during the 2nd quarter worth approximately $80,000. Finally, Norges Bank purchased a new stake in WAVE Life Sciences during the second quarter worth about $650,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.

WAVE Life Sciences Company Profile

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.