Wave Life Sciences Ltd. (NASDAQ:WVE) CEO Sells $733,670.88 in Stock

Wave Life Sciences Ltd. (NASDAQ:WVE) CEO Paul Bolno sold 51,234 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $14.32, for a total transaction of $733,670.88. Following the sale, the chief executive officer now directly owns 217,351 shares of the company’s stock, valued at approximately $3,112,466.32. This trade represents a 19.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Paul Bolno also recently made the following trade(s):

• On Wednesday, October 16th, Paul Bolno sold 90,474 shares of Wave Life Sciences stock. The shares were sold at an average price of $15.00, for a total transaction of $1,357,110.00.
• On Wednesday, August 21st, Paul Bolno sold 48,366 shares of Wave Life Sciences stock. The shares were sold at an average price of $5.78, for a total transaction of $279,555.48.

Wave Life Sciences Stock Performance

Shares of Wave Life Sciences stock traded down $1.33 during midday trading on Friday, reaching $13.67. 1,432,809 shares of the company’s stock traded hands, compared to its average volume of 1,114,433. Wave Life Sciences Ltd. has a 52 week low of $3.50 and a 52 week high of $16.74. The company’s 50 day simple moving average is $10.76 and its 200 day simple moving average is $7.52. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -12.32 and a beta of -1.20.

Wave Life Sciences (NASDAQ:WVE) last posted its earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of ($7.68) million during the quarter, compared to analyst estimates of $15.45 million. As a group, equities research analysts predict that Wave Life Sciences Ltd. will post -1.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WVE. B. Riley upped their target price on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Leerink Partners upped their target price on shares of Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Truist Financial upped their target price on shares of Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday. Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $13.00 to $22.00 in a research note on Wednesday, October 16th. Finally, HC Wainwright reiterated a “buy” rating and set a $22.00 price objective on shares of Wave Life Sciences in a research note on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $21.89.

Institutional Trading of Wave Life Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Swiss National Bank lifted its holdings in Wave Life Sciences by 2.7% during the 1st 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 during the last quarter. ProShare Advisors LLC grew its position in shares of Wave Life Sciences by 35.0% during the 1st quarter. ProShare Advisors LLC now owns 21,764 shares of the company’s stock worth $134,000 after buying an additional 5,648 shares during the period. Vanguard Group Inc. grew its holdings 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 during the period. Ameritas Investment Partners Inc. grew its holdings 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 valued at $45,000 after purchasing an additional 2,451 shares during the period. Finally, American International Group Inc. grew its holdings in Wave Life Sciences by 23.3% during the first quarter. American International Group Inc. now owns 36,241 shares of the company’s stock valued at $224,000 after purchasing an additional 6,851 shares during the period. 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.