Wave Life Sciences Ltd. (NASDAQ:WVE) Director Christian O. Henry Sells 10,500 Shares

Wave Life Sciences Ltd. (NASDAQ:WVE) Director Christian O. Henry sold 10,500 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $9.77, for a total value of $102,585.00. Following the sale, the director now directly owns 16,115 shares in the company, valued at $157,443.55. This trade represents a 39.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wave Life Sciences Price Performance

Shares of NASDAQ:WVE traded down $0.08 during mid-day trading on Friday, reaching $9.59. 1,619,845 shares of the company traded hands, compared to its average volume of 1,088,778. The company’s 50 day moving average price is $10.95 and its 200-day moving average price is $11.48. The firm has a market cap of $1.47 billion, a PE ratio of -8.64 and a beta of -1.04. Wave Life Sciences Ltd. has a 52 week low of $4.25 and a 52 week high of $16.74.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.34. The business had revenue of $83.75 million during the quarter, compared to analyst estimates of $25.60 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. On average, research analysts predict that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wave Life Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Maverick Capital Ltd. boosted its stake in shares of Wave Life Sciences by 31.0% in the third quarter. Maverick Capital Ltd. now owns 10,047,520 shares of the company’s stock worth $82,390,000 after acquiring an additional 2,378,159 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Wave Life Sciences by 63.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,098,866 shares of the company’s stock valued at $63,074,000 after purchasing an additional 1,972,262 shares during the period. Loomis Sayles & Co. L P purchased a new position in Wave Life Sciences in the 4th quarter worth approximately $20,545,000. Polar Capital Holdings Plc purchased a new position in Wave Life Sciences in the 4th quarter worth approximately $12,370,000. Finally, FMR LLC boosted its stake in Wave Life Sciences by 174.5% in the 3rd quarter. FMR LLC now owns 1,540,190 shares of the company’s stock worth $12,630,000 after purchasing an additional 979,110 shares during the period. 89.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WVE has been the topic of a number of recent analyst reports. StockNews.com raised shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. HC Wainwright restated a “buy” rating and issued a $22.00 target price on shares of Wave Life Sciences in a report on Wednesday, March 5th. Jefferies Financial Group started coverage on Wave Life Sciences in a report on Tuesday, February 25th. They set a “buy” rating and a $26.00 price target on the stock. Finally, Mizuho lifted their price objective on Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.60.

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.