Chandra Vargeese Sells 1,500 Shares of WAVE Life Sciences Ltd. (WVE) Stock
WAVE Life Sciences Ltd. (NASDAQ:WVE) insider Chandra Vargeese sold 1,500 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $35.00, for a total transaction of $52,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
WAVE Life Sciences Ltd. (NASDAQ WVE) traded up $0.65 during midday trading on Friday, hitting $36.10. 120,253 shares of the stock were exchanged, compared to its average volume of 184,295. The company has a quick ratio of 11.50, a current ratio of 11.50 and a debt-to-equity ratio of 0.01. WAVE Life Sciences Ltd. has a 1-year low of $15.15 and a 1-year high of $40.15.
WAVE Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Thursday, November 9th. The company reported ($0.94) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.03. The business had revenue of $0.68 million during the quarter, compared to analyst estimates of $0.77 million. WAVE Life Sciences had a negative net margin of 3,338.68% and a negative return on equity of 59.52%. sell-side analysts predict that WAVE Life Sciences Ltd. will post -3.76 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new stake in shares of WAVE Life Sciences in the third quarter worth approximately $13,679,000. Granite Point Capital Management L.P. acquired a new position in WAVE Life Sciences in the third quarter worth approximately $653,000. Schwab Charles Investment Management Inc. increased its holdings in WAVE Life Sciences by 6.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 56,537 shares of the company’s stock worth $1,230,000 after buying an additional 3,325 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in WAVE Life Sciences in the third quarter worth approximately $2,634,000. Finally, Bank of New York Mellon Corp increased its holdings in WAVE Life Sciences by 5.5% in the third quarter. Bank of New York Mellon Corp now owns 49,693 shares of the company’s stock worth $1,081,000 after buying an additional 2,589 shares during the last quarter. 69.47% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on WVE. Zacks Investment Research upgraded shares of WAVE Life Sciences from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Leerink Swann reaffirmed an “outperform” rating and set a $53.00 price objective (up from $42.00) on shares of WAVE Life Sciences in a research note on Wednesday, November 15th. Mizuho set a $34.00 price objective on shares of WAVE Life Sciences and gave the company a “buy” rating in a research note on Saturday, October 21st. BidaskClub raised shares of WAVE Life Sciences from a “sell” rating to a “hold” rating in a research note on Tuesday, November 14th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $40.00 price objective (down from $42.00) on shares of WAVE Life Sciences in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $41.60.
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About WAVE Life Sciences
WAVE Life Sciences Ltd. is a genetic medicines company. The Company, through its synthetic chemistry drug development platform, designs, develops and commercializes a pipeline of nucleic acid therapeutic candidates for genetically defined diseases. The Company is engaged in developing oligonucleotides that target genetic defects to either reduce the expression of disease-promoting proteins or transform the production of dysfunctional mutant proteins into the production of functional proteins.
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