Wave Life Sciences Ltd. (NASDAQ:WVE) CEO Sells $750,000.00 in Stock

Wave Life Sciences Ltd. (NASDAQ:WVE) CEO Paul Bolno sold 50,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $15.00, for a total value of $750,000.00. Following the transaction, the chief executive officer now directly owns 217,351 shares of the company’s stock, valued at approximately $3,260,265. This represents a 18.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Friday, November 15th, Paul Bolno sold 51,234 shares of Wave Life Sciences stock. The stock was sold at an average price of $14.32, for a total transaction of $733,670.88.
• 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.

Wave Life Sciences Stock Performance

NASDAQ WVE traded up $0.16 on Wednesday, reaching $14.99. The stock had a trading volume of 607,803 shares, compared to its average volume of 1,113,948. The stock has a market cap of $2.29 billion, a P/E ratio of -13.36 and a beta of -1.20. Wave Life Sciences Ltd. has a 12-month low of $3.50 and a 12-month high of $16.74. The business’s 50-day moving average price is $11.93 and its 200 day moving average price is $7.97.

Hedge Funds Weigh In On Wave Life Sciences

Institutional investors have recently modified their holdings of the business. ProShare Advisors LLC grew its holdings in shares of Wave Life Sciences by 35.0% during the first 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 last quarter. Vanguard Group Inc. grew its stake in shares of Wave Life Sciences by 39.7% in the 1st 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 last quarter. American International Group Inc. increased its holdings in shares of Wave Life Sciences by 23.3% in 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. Price T Rowe Associates Inc. MD raised its stake in shares of Wave Life Sciences by 14.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,861,254 shares of the company’s stock worth $11,485,000 after purchasing an additional 233,891 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Wave Life Sciences by 13.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 241,860 shares of the company’s stock worth $1,492,000 after purchasing an additional 29,483 shares during the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $13.00 to $22.00 in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upped their price objective on Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Mizuho raised their target price on Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. B. Riley upped their price target on Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Leerink Partners increased their price target 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.22.

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.