Insider Selling: WAVE Life Sciences (NASDAQ:WVE) Insider Sells 3,228 Shares of Stock

WAVE Life Sciences Ltd. (NASDAQ:WVE) insider Chandra Vargeese sold 3,228 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $13.45, for a total value of $43,416.60. Following the completion of the transaction, the insider directly owned 408,246 shares of the company’s stock, valued at approximately $5,490,908.70. This trade represents a 0.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

WAVE Life Sciences Stock Performance

Shares of WAVE Life Sciences stock traded down $0.32 on Wednesday, reaching $13.27. 2,543,164 shares of the stock were exchanged, compared to its average volume of 3,266,049. The firm’s 50 day moving average is $14.99 and its 200-day moving average is $10.38. WAVE Life Sciences Ltd. has a one year low of $5.28 and a one year high of $21.73. The firm has a market cap of $2.22 billion, a PE ratio of -17.69 and a beta of -1.78.

WAVE Life Sciences (NASDAQ:WVE) last issued its earnings results on Monday, November 10th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). WAVE Life Sciences had a negative net margin of 111.64% and a negative return on equity of 75.61%. The business had revenue of $7.61 million during the quarter, compared to analyst estimates of $9.85 million. On average, equities research analysts expect that WAVE Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Royal Bank Of Canada upgraded WAVE Life Sciences from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $9.00 to $27.00 in a research report on Monday, December 8th. Wedbush upped their price objective on shares of WAVE Life Sciences from $20.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. UBS Group set a $32.00 price objective on shares of WAVE Life Sciences in a research note on Tuesday, December 16th. Wells Fargo & Company boosted their target price on shares of WAVE Life Sciences from $16.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. Finally, Citigroup upped their price target on shares of WAVE Life Sciences from $16.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Fourteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, WAVE Life Sciences has an average rating of “Moderate Buy” and a consensus target price of $32.69.

Institutional Investors Weigh In On WAVE Life Sciences

A number of institutional investors have recently added to or reduced their stakes in WVE. Virtus Investment Advisers LLC raised its position in shares of WAVE Life Sciences by 10.2% during the second quarter. Virtus Investment Advisers LLC now owns 13,060 shares of the company’s stock worth $85,000 after purchasing an additional 1,210 shares during the period. Deutsche Bank AG increased its stake in WAVE Life Sciences by 1.5% during the 4th quarter. Deutsche Bank AG now owns 95,706 shares of the company’s stock valued at $1,627,000 after purchasing an additional 1,441 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in WAVE Life Sciences by 18.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company’s stock valued at $74,000 after purchasing an additional 1,802 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in WAVE Life Sciences by 32.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,124 shares of the company’s stock worth $138,000 after buying an additional 1,972 shares during the last quarter. Finally, Velan Capital Investment Management LP lifted its stake in shares of WAVE Life Sciences by 15.4% in the second quarter. Velan Capital Investment Management LP now owns 15,000 shares of the company’s stock valued at $98,000 after buying an additional 2,000 shares in the last quarter. 89.73% of the stock is owned by institutional investors.

WAVE Life Sciences Company Profile

WAVE Life Sciences is a clinical-stage genetic medicines company focused on the discovery and development of stereopure oligonucleotide therapies designed to address serious diseases with high unmet medical need. Leveraging proprietary chemistry and precision synthesis, WAVE engineers drug candidates with defined stereochemistry to optimize potency, safety and manufacturability. This approach aims to enhance target specificity and improve therapeutic profiles compared with traditional oligonucleotide medicines.

The company’s pipeline includes programs in neuromuscular disorders such as Duchenne muscular dystrophy and neurodegenerative conditions including Huntington’s disease, as well as early-stage cardiovascular and liver indications.