WAVE Life Sciences (NASDAQ:WVE) Director Heidi Wagner Sells 7,000 Shares of Stock

WAVE Life Sciences Ltd. (NASDAQ:WVE) Director Heidi Wagner sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $6.01, for a total transaction of $42,070.00. Following the transaction, the director directly owned 44,930 shares of the company’s stock, valued at $270,029.30. The trade was a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

WAVE Life Sciences Stock Performance

Shares of WAVE Life Sciences stock opened at $5.20 on Friday. The firm has a market cap of $1.02 billion, a P/E ratio of -4.77 and a beta of -1.26. The firm’s 50-day simple moving average is $5.88 and its 200-day simple moving average is $8.42. WAVE Life Sciences Ltd. has a twelve month low of $5.01 and a twelve month high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.04). The business had revenue of $2.27 million during the quarter, compared to analyst estimates of $7.45 million. WAVE Life Sciences had a negative return on equity of 50.36% and a negative net margin of 309.73%. On average, equities analysts forecast that WAVE Life Sciences Ltd. will post -1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WVE has been the subject of a number of recent research reports. Canaccord Genuity Group dropped their target price on WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, April 30th. HC Wainwright reissued a “buy” rating on shares of WAVE Life Sciences in a report on Monday, August 3rd. UBS Group set a $13.00 target price on shares of WAVE Life Sciences in a research note on Monday, August 3rd. Wells Fargo & Company boosted their target price on shares of WAVE Life Sciences from $13.00 to $14.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Finally, B. Riley Financial lowered their target price on shares of WAVE Life Sciences from $31.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, WAVE Life Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $22.53.

Hedge Funds Weigh In On WAVE Life Sciences

Large investors have recently made changes to their positions in the company. GSK plc bought a new position in WAVE Life Sciences in the fourth quarter valued at approximately $310,177,000. Darwin Global Management Ltd. bought a new position in shares of WAVE Life Sciences in the 4th quarter worth $125,168,000. Price T Rowe Associates Inc. MD grew its stake in shares of WAVE Life Sciences by 83.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,407,372 shares of the company’s stock worth $125,927,000 after purchasing an additional 3,362,880 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in shares of WAVE Life Sciences by 20.0% during the second quarter. Adage Capital Partners GP L.L.C. now owns 15,016,500 shares of the company’s stock worth $97,607,000 after purchasing an additional 2,500,000 shares during the period. Finally, Primecap Management Co. CA increased its holdings in WAVE Life Sciences by 115.7% in the fourth quarter. Primecap Management Co. CA now owns 4,095,282 shares of the company’s stock valued at $69,620,000 after purchasing an additional 2,196,632 shares during the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

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.