Michael A. Panzara Sells 3,058 Shares of Wave Life Sciences Ltd (NASDAQ:WVE) Stock

Wave Life Sciences Ltd (NASDAQ:WVE) insider Michael A. Panzara sold 3,058 shares of Wave Life Sciences stock in a transaction on Friday, July 5th. The stock was sold at an average price of $26.94, for a total value of $82,382.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

WVE stock opened at $26.26 on Thursday. The stock has a market cap of $899.80 million, a P/E ratio of -5.19 and a beta of 0.83. Wave Life Sciences Ltd has a 1 year low of $22.25 and a 1 year high of $56.00. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average price of $25.38.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Friday, May 10th. The company reported ($1.36) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.19) by ($0.17). The firm had revenue of $3.03 million during the quarter, compared to analysts’ expectations of $9.66 million. Wave Life Sciences had a negative return on equity of 120.60% and a negative net margin of 971.48%. Sell-side analysts expect that Wave Life Sciences Ltd will post -4.23 earnings per share for the current year.

A number of analysts have commented on WVE shares. SunTrust Banks lifted their target price on Perrigo to $51.00 and gave the stock a “hold” rating in a report on Monday, May 20th. Stifel Nicolaus raised QUALCOMM from a “hold” rating to a “buy” rating and lifted their target price for the stock from $57.00 to $100.00 in a report on Tuesday, April 16th. Mizuho set a $65.00 target price on Wave Life Sciences and gave the stock a “buy” rating in a report on Saturday, June 29th. BidaskClub lowered Zynga from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Finally, HC Wainwright lowered Hydrogenics from a “buy” rating to a “neutral” rating in a report on Friday, June 28th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $50.80.

Hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. boosted its stake in shares of Wave Life Sciences by 189.4% in the 4th quarter. Citigroup Inc. now owns 2,807 shares of the company’s stock worth $118,000 after buying an additional 1,837 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Wave Life Sciences by 17.9% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,045 shares of the company’s stock worth $118,000 after buying an additional 462 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Wave Life Sciences by 45.0% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,900 shares of the company’s stock worth $122,000 after buying an additional 900 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Wave Life Sciences by 17.9% in the 4th quarter. Legal & General Group Plc now owns 3,094 shares of the company’s stock worth $130,000 after buying an additional 469 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Wave Life Sciences in the 1st quarter worth $140,000. Hedge funds and other institutional investors own 85.62% of the company’s stock.

About Wave Life Sciences

Wave Life Sciences Ltd., a clinical stage genetic medicine company, designs, optimizes, and produces of novel stereopure oligonucleotides through PRISM, a discovery and drug developing platform. The company is primarily 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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