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

WAVE Life Sciences Ltd. (NASDAQ:WVE) Director Heidi Wagner sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $6.01, for a total value of $42,070.00. Following the completion of the sale, the director directly owned 44,930 shares of the company’s stock, valued at $270,029.30. This represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

WAVE Life Sciences Price Performance

Shares of WVE stock opened at $5.41 on Friday. The business’s fifty day moving average price is $5.88 and its 200 day moving average price is $8.40. WAVE Life Sciences Ltd. has a 1-year low of $5.01 and a 1-year high of $21.73. The firm has a market capitalization of $1.07 billion, a PE ratio of -4.96 and a beta of -1.26.

WAVE Life Sciences (NASDAQ:WVE) last released its quarterly earnings data 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). WAVE Life Sciences had a negative return on equity of 50.36% and a negative net margin of 309.73%.The business had revenue of $2.27 million during the quarter, compared to analysts’ expectations of $7.45 million. Equities research analysts expect 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 several recent analyst reports. Wedbush reduced their price objective on shares of WAVE Life Sciences from $15.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Truist Financial began coverage on shares of WAVE Life Sciences in a research report on Wednesday, April 29th. They set a “buy” rating and a $15.00 target price on the stock. Wells Fargo & Company increased their target price on shares of WAVE Life Sciences from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. New Street Research set a $13.00 price target on shares of WAVE Life Sciences in a research report on Thursday, June 11th. Finally, Canaccord Genuity Group decreased their price target on WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, WAVE Life Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $22.53.

Institutional Investors Weigh In On WAVE Life Sciences

Institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC grew its stake in WAVE Life Sciences by 6,729.0% in the 4th quarter. CWM LLC now owns 2,117 shares of the company’s stock valued at $36,000 after acquiring an additional 2,086 shares during the last quarter. Smartleaf Asset Management LLC raised its position in WAVE Life Sciences by 645.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,243 shares of the company’s stock worth $38,000 after acquiring an additional 1,942 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of WAVE Life Sciences by 1,441.6% in the third quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company’s stock valued at $73,000 after purchasing an additional 9,284 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of WAVE Life Sciences by 44.8% in the second quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company’s stock valued at $76,000 after purchasing an additional 3,609 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new stake in shares of WAVE Life Sciences in the second quarter valued at approximately $80,000. 89.73% of the stock is currently owned by hedge funds and other 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.