Insider Selling: Wave Life Sciences Ltd. (NASDAQ:WVE) CEO Sells 50,000 Shares of Stock

Wave Life Sciences Ltd. (NASDAQ:WVE) CEO Paul Bolno sold 50,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $15.00, for a total value of $750,000.00. Following the completion of the transaction, the chief executive officer now owns 217,351 shares in the company, valued at $3,260,265. The trade was a 18.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Paul Bolno also recently made the following trade(s):

• On Friday, November 15th, Paul Bolno sold 51,234 shares of Wave Life Sciences stock. The shares were sold at an average price of $14.32, for a total transaction of $733,670.88.
• On Wednesday, October 16th, Paul Bolno sold 90,474 shares of Wave Life Sciences stock. The stock was sold at an average price of $15.00, for a total value of $1,357,110.00.

Wave Life Sciences Price Performance

Shares of WVE stock traded up $0.16 during trading hours on Wednesday, hitting $14.99. The company had a trading volume of 607,803 shares, compared to its average volume of 1,113,948. Wave Life Sciences Ltd. has a fifty-two week low of $3.50 and a fifty-two week high of $16.74. The company’s fifty day moving average is $11.93 and its 200 day moving average is $7.97. The stock has a market capitalization of $2.29 billion, a PE ratio of -13.36 and a beta of -1.20.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WVE. Truist Financial upped their target price on Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. raised their price objective on shares of Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. HC Wainwright reaffirmed a “buy” rating and set a $22.00 target price on shares of Wave Life Sciences in a research note on Wednesday, November 13th. Leerink Partners increased their price target on shares of Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, StockNews.com lowered shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Wave Life Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $22.22.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of WVE. Privium Fund Management B.V. purchased a new position in shares of Wave Life Sciences in the third quarter valued at approximately $400,000. Moody Aldrich Partners LLC boosted its position in Wave Life Sciences by 69.0% in the 3rd quarter. Moody Aldrich Partners LLC now owns 303,062 shares of the company’s stock valued at $2,485,000 after buying an additional 123,703 shares during the period. SG Americas Securities LLC purchased a new position in Wave Life Sciences in the 2nd quarter valued at approximately $668,000. Vanguard Group Inc. grew its stake in shares of Wave Life Sciences by 39.7% in the first quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock worth $11,316,000 after acquiring an additional 521,665 shares in the last quarter. Finally, Driehaus Capital Management LLC increased its position in shares of Wave Life Sciences by 62.2% during the second quarter. Driehaus Capital Management LLC now owns 908,096 shares of the company’s stock worth $4,531,000 after acquiring an additional 348,300 shares during the period. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

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.