Wave Life Sciences Ltd. (NASDAQ:WVE) CEO Paul Bolno Sells 90,474 Shares

Wave Life Sciences Ltd. (NASDAQ:WVE) CEO Paul Bolno sold 90,474 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $15.00, for a total transaction of $1,357,110.00. Following the completion of the transaction, the chief executive officer now owns 268,585 shares of the company’s stock, valued at approximately $4,028,775. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• 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 value of $279,555.48.

Wave Life Sciences Price Performance

NASDAQ WVE traded up $0.70 during trading hours on Friday, hitting $15.31. 2,030,381 shares of the company’s stock traded hands, compared to its average volume of 1,089,892. The firm’s 50-day moving average is $6.90 and its 200-day moving average is $6.16. Wave Life Sciences Ltd. has a 52-week low of $3.50 and a 52-week high of $15.92. The company has a market capitalization of $1.88 billion, a PE ratio of -28.10 and a beta of -1.10.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The company had revenue of $19.69 million during the quarter, compared to analyst estimates of $24.80 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. During the same period in the prior year, the business posted ($0.20) EPS. Equities research analysts predict that Wave Life Sciences Ltd. will post -1.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on WVE shares. HC Wainwright reiterated a “buy” rating and set a $22.00 price target on shares of Wave Life Sciences in a research report on Thursday. Wells Fargo & Company lifted their price target on shares of Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday. Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $13.00 to $22.00 in a research report on Wednesday. Finally, Royal Bank of Canada upped their price target on shares of Wave Life Sciences from $5.00 to $7.00 and gave the stock a “sector perform” rating in a research report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.56.

Institutional Trading of Wave Life Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of WVE. Ameritas Investment Partners Inc. increased its stake in Wave Life Sciences by 50.2% in 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 last quarter. Profund Advisors LLC acquired a new stake in shares of Wave Life Sciences in the 2nd quarter worth $53,000. Principal Financial Group Inc. purchased a new stake in shares of Wave Life Sciences in the second quarter valued at approximately $74,000. Mackenzie Financial Corp lifted its stake in shares of Wave Life Sciences by 13.6% in the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after purchasing an additional 1,905 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in Wave Life Sciences during the second quarter worth $104,000. 89.73% of the stock is 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.