WAVE Life Sciences Ltd. (NASDAQ:WVE) insider Michael A. Panzara sold 7,414 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $16.67, for a total value of $123,591.38. Following the completion of the transaction, the insider now directly owns 15,336 shares in the company, valued at approximately $255,651.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of WAVE Life Sciences Ltd. (NASDAQ WVE) traded down 2.49% on Friday, hitting $17.65. 32,855 shares of the stock traded hands. The stock has a 50-day moving average price of $18.84 and a 200 day moving average price of $23.24. WAVE Life Sciences Ltd. has a 52 week low of $15.15 and a 52 week high of $40.15. The firm’s market cap is $489.45 million.
WAVE Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Wednesday, August 9th. The company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.78) by $0.14. WAVE Life Sciences had a negative net margin of 3,375.12% and a negative return on equity of 60.79%. The firm had revenue of $0.68 million during the quarter, compared to analysts’ expectations of $0.73 million. Equities research analysts predict that WAVE Life Sciences Ltd. will post ($3.70) EPS for the current fiscal year.
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Several equities research analysts recently issued reports on WVE shares. Zacks Investment Research cut WAVE Life Sciences from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. ValuEngine cut WAVE Life Sciences from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. Jefferies Group LLC restated a “buy” rating and set a $42.00 target price on shares of WAVE Life Sciences in a research note on Wednesday, April 26th. Finally, JMP Securities restated an “outperform” rating and set a $40.00 target price on shares of WAVE Life Sciences in a research note on Friday, June 9th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $41.50.
Several institutional investors have recently added to or reduced their stakes in the stock. Redmile Group LLC boosted its position in shares of WAVE Life Sciences by 33.6% in the first quarter. Redmile Group LLC now owns 1,271,097 shares of the company’s stock valued at $34,955,000 after buying an additional 319,385 shares in the last quarter. Clough Capital Partners L P boosted its stake in shares of WAVE Life Sciences by 93.3% in the first quarter. Clough Capital Partners L P now owns 408,006 shares of the company’s stock worth $10,935,000 after buying an additional 196,903 shares during the period. Northern Trust Corp boosted its stake in shares of WAVE Life Sciences by 66.3% in the second quarter. Northern Trust Corp now owns 165,794 shares of the company’s stock worth $3,085,000 after buying an additional 66,120 shares during the period. Vanguard Group Inc. boosted its stake in shares of WAVE Life Sciences by 40.3% in the second quarter. Vanguard Group Inc. now owns 215,691 shares of the company’s stock worth $4,012,000 after buying an additional 61,910 shares during the period. Finally, Eventide Asset Management LLC boosted its stake in shares of WAVE Life Sciences by 13.0% in the first quarter. Eventide Asset Management LLC now owns 433,500 shares of the company’s stock worth $11,921,000 after buying an additional 49,870 shares during the period. Hedge funds and other institutional investors own 56.81% of the company’s stock.
WAVE Life Sciences Company Profile
WAVE Life Sciences Ltd. is a genetic medicines company. The Company, through its synthetic chemistry drug development platform, designs, develops and commercializes a pipeline of nucleic acid therapeutic candidates for genetically defined diseases. The Company is engaged in developing oligonucleotides that target genetic defects to either reduce the expression of disease-promoting proteins or transform the production of dysfunctional mutant proteins into the production of functional proteins.
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