Chris Francis Sells 36,000 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) Stock

Wave Life Sciences Ltd. (NASDAQ:WVE) insider Chris Francis sold 36,000 shares of Wave Life Sciences stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $16.00, for a total transaction of $576,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Chris Francis also recently made the following trade(s):

• On Wednesday, October 16th, Chris Francis sold 208,836 shares of Wave Life Sciences stock. The stock was sold at an average price of $13.67, for a total transaction of $2,854,788.12.

Wave Life Sciences Price Performance

NASDAQ:WVE opened at $15.00 on Friday. The stock has a 50 day simple moving average of $10.40 and a 200 day simple moving average of $7.41. Wave Life Sciences Ltd. has a 1-year low of $3.50 and a 1-year high of $16.74.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate 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 business had revenue of ($7.68) million during the quarter, compared to analyst estimates of $15.45 million. On average, research analysts forecast that Wave Life Sciences Ltd. will post -1.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on WVE shares. JPMorgan Chase & Co. upped their price target on Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 target price on shares of Wave Life Sciences in a research note on Wednesday. Wells Fargo & Company boosted their price target on shares of Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Leerink Partners increased their price objective on shares of Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Raymond James raised shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $13.00 to $22.00 in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.89.

Institutional Investors Weigh In On Wave Life Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Swiss National Bank raised its stake in Wave Life Sciences by 2.7% in the first quarter. Swiss National Bank now owns 156,500 shares of the company’s stock valued at $966,000 after purchasing an additional 4,100 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Wave Life Sciences during the 1st quarter worth approximately $405,000. ProShare Advisors LLC increased its stake in Wave Life Sciences by 35.0% in the first quarter. ProShare Advisors LLC now owns 21,764 shares of the company’s stock valued at $134,000 after acquiring an additional 5,648 shares during the last quarter. Vanguard Group Inc. raised its position in Wave Life Sciences by 39.7% during the first quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock valued at $11,316,000 after purchasing an additional 521,665 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its stake in Wave Life Sciences by 50.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after purchasing an additional 2,451 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

About Wave Life Sciences

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.