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

WAVE Life Sciences Ltd. (NASDAQ:WVE) Director Adrian Rawcliffe sold 12,700 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $5.29, for a total value of $67,183.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

WAVE Life Sciences Trading Up 4.0%

NASDAQ WVE opened at $5.41 on Friday. 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 moving average price is $5.88 and its 200-day moving average price is $8.40. The stock has a market cap of $1.07 billion, a P/E ratio of -4.96 and a beta of -1.26.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on WVE shares. Wall Street Zen cut shares of WAVE Life Sciences from a “hold” rating to a “strong sell” rating in a report on Saturday, August 1st. B. Riley Financial decreased their price objective on shares of WAVE Life Sciences from $31.00 to $22.00 and set a “buy” rating for the company in a report on Friday, July 31st. Wedbush cut their target price on WAVE Life Sciences from $15.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Citigroup reduced 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. Finally, Mizuho decreased their price target on WAVE Life Sciences from $27.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.53.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in WVE. GSK plc bought a new position in WAVE Life Sciences during the fourth quarter valued at approximately $310,177,000. Adage Capital Partners GP L.L.C. grew its position in WAVE Life Sciences by 20.0% in 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. Price T Rowe Associates Inc. MD raised its stake 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 valued at $125,927,000 after buying an additional 3,362,880 shares during the last quarter. Darwin Global Management Ltd. purchased a new stake in WAVE Life Sciences during the 4th quarter valued at $125,168,000. Finally, Federated Hermes Inc. lifted its holdings in shares of WAVE Life Sciences by 26.5% during the 4th quarter. Federated Hermes Inc. now owns 4,744,520 shares of the company’s stock valued at $80,657,000 after buying an additional 993,827 shares during the period. 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.