Wave Life Sciences Ltd. (NASDAQ:WVE) Insider Sells $576,000.00 in Stock

Wave Life Sciences Ltd. (NASDAQ:WVE) insider Chris Francis sold 36,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $16.00, for a total value of $576,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Chris Francis also recently made the following trade(s):

• On Wednesday, October 16th, Chris Francis sold 208,836 shares of Wave Life Sciences stock. The stock was sold at an average price of $13.67, for a total value of $2,854,788.12.

Wave Life Sciences Stock Down 4.4 %

Wave Life Sciences stock opened at $15.00 on Friday. Wave Life Sciences Ltd. has a 52-week low of $3.50 and a 52-week high of $16.74. The company has a fifty day simple moving average of $10.40 and a 200-day simple moving average of $7.41.

Wave Life Sciences (NASDAQ:WVE) last posted its earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.19). The business had revenue of ($7.68) million for the quarter, compared to analyst estimates of $15.45 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. Equities analysts anticipate that Wave Life Sciences Ltd. will post -1.06 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the company. HC Wainwright reissued a “buy” rating and set a $22.00 price objective on shares of Wave Life Sciences in a research report on Wednesday. StockNews.com lowered shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a research report on Wednesday. B. Riley lifted their price objective on Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Royal Bank of Canada raised their price target on Wave Life Sciences from $7.00 to $15.00 and gave the company a “sector perform” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company lifted their price target on shares of Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.89.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Maverick Capital Ltd. boosted its holdings 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 valued at $82,390,000 after acquiring an additional 2,378,159 shares during the period. Walleye Capital LLC purchased a new position in Wave Life Sciences in the third quarter worth $4,940,000. Martingale Asset Management L P boosted its holdings in Wave Life Sciences by 25.6% during the third quarter. Martingale Asset Management L P now owns 111,199 shares of the company’s stock worth $912,000 after buying an additional 22,652 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in shares of Wave Life Sciences by 71.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 39,075 shares of the company’s stock worth $320,000 after acquiring an additional 16,235 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Wave Life Sciences by 477.7% in the third quarter. BNP Paribas Financial Markets now owns 41,828 shares of the company’s stock valued at $343,000 after purchasing an additional 34,588 shares during the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.

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.