Paul Bolno Sells 51,234 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) Stock

Wave Life Sciences Ltd. (NASDAQ:WVE) CEO Paul Bolno sold 51,234 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $14.32, for a total transaction of $733,670.88. Following the completion of the sale, the chief executive officer now directly owns 217,351 shares in the company, valued at approximately $3,112,466.32. This represents a 19.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 transaction of $1,357,110.00.
• On Wednesday, August 21st, Paul Bolno sold 48,366 shares of Wave Life Sciences stock. The shares were sold at an average price of $5.78, for a total transaction of $279,555.48.

Wave Life Sciences Trading Down 8.9 %

NASDAQ WVE traded down $1.33 during trading hours on Friday, hitting $13.67. 1,432,809 shares of the company’s stock were exchanged, compared to its average volume of 1,114,433. The stock has a 50-day simple moving average of $10.76 and a 200 day simple moving average of $7.52. Wave Life Sciences Ltd. has a 1-year low of $3.50 and a 1-year high of $16.74. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -12.32 and a beta of -1.20.

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

Institutional Investors Weigh In On Wave Life Sciences

A number of hedge funds have recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in Wave Life Sciences by 171.1% during the third quarter. Barclays PLC now owns 159,241 shares of the company’s stock worth $1,307,000 after acquiring an additional 100,498 shares during the period. Orion Portfolio Solutions LLC purchased a new position in shares of Wave Life Sciences in the third quarter valued at $123,000. XTX Topco Ltd purchased a new position in shares of Wave Life Sciences in the third quarter valued at $126,000. Jane Street Group LLC grew its position in shares of Wave Life Sciences by 33.3% in the third quarter. Jane Street Group LLC now owns 142,014 shares of the company’s stock valued at $1,165,000 after purchasing an additional 35,472 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new position in Wave Life Sciences during the third quarter worth about $164,000. Institutional investors and hedge funds own 89.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WVE. StockNews.com downgraded Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Wednesday. Truist Financial lifted their price target on Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday. Royal Bank of Canada upped their price objective on Wave Life Sciences from $7.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Monday, October 21st. HC Wainwright reiterated a “buy” rating and issued a $22.00 target price on shares of Wave Life Sciences in a research report on Wednesday. Finally, Raymond James upgraded Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $13.00 to $22.00 in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Wave Life Sciences presently has an average rating of “Moderate Buy” and an average price target of $21.89.

Wave Life Sciences Company Profile

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.