Key Points
- Director Adrian Rawcliffe sold 16,115 shares on Nov. 13 at an average price of $6.79 for proceeds of $109,420.85, reducing his stake by 55.93% to 12,700 shares; the trade was disclosed in an SEC filing.
- WAVE shares traded at about $7.08 mid-day with volume of 2.32M (vs. avg. 1.71M) and a market cap of $1.18B; the company reported quarterly EPS of -$0.32 (missed consensus) and revenue of $7.61M vs. $9.85M expected.
- Institutional investors have substantially increased positions (notably Federated Hermes and Adage), with hedge funds owning ~89.7% of the stock, and analysts mostly bullish (11 Buys, 1 Sell) for an average price target of $19.73.
WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) Director Adrian Rawcliffe sold 16,115 shares of WAVE Life Sciences stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $6.79, for a total value of $109,420.85. Following the transaction, the director owned 12,700 shares of the company's stock, valued at $86,233. This trade represents a 55.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
WAVE Life Sciences Stock Performance
Shares of WAVE Life Sciences stock traded up $0.41 during mid-day trading on Friday, hitting $7.08. 2,323,389 shares of the stock were exchanged, compared to its average volume of 1,709,603. WAVE Life Sciences Ltd. has a 12 month low of $5.28 and a 12 month high of $16.38. The company has a 50-day simple moving average of $7.41 and a 200 day simple moving average of $7.55. The company has a market capitalization of $1.18 billion, a P/E ratio of -7.87 and a beta of -1.44.
WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The business had revenue of $7.61 million during the quarter, compared to analyst estimates of $9.85 million. Analysts predict that WAVE Life Sciences Ltd. will post -1.14 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. increased its holdings in shares of WAVE Life Sciences by 678,144.7% in the 3rd quarter. Federated Hermes Inc. now owns 3,750,693 shares of the company's stock worth $27,455,000 after buying an additional 3,750,140 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in WAVE Life Sciences by 30.1% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 12,516,500 shares of the company's stock worth $101,133,000 after acquiring an additional 2,894,396 shares in the last quarter. Loomis Sayles & Co. L P increased its holdings in WAVE Life Sciences by 35.3% during the second quarter. Loomis Sayles & Co. L P now owns 3,295,700 shares of the company's stock valued at $21,422,000 after buying an additional 859,160 shares during the period. Stempoint Capital LP raised its holdings in WAVE Life Sciences by 902.2% in the second quarter. Stempoint Capital LP now owns 900,338 shares of the company's stock worth $5,852,000 after purchasing an additional 810,505 shares in the last quarter. Finally, Kennedy Capital Management LLC boosted its stake in WAVE Life Sciences by 1,489.5% in the third quarter. Kennedy Capital Management LLC now owns 540,437 shares of the company's stock valued at $3,956,000 after acquiring an additional 506,437 shares in the last quarter. Hedge funds and other institutional investors own 89.73% of the company's stock.
Wall Street Analyst Weigh In
WVE has been the subject of several research analyst reports. Wedbush lifted their target price on shares of WAVE Life Sciences from $18.00 to $20.00 and gave the company an "outperform" rating in a research report on Tuesday. Canaccord Genuity Group began coverage on shares of WAVE Life Sciences in a research note on Monday, August 4th. They issued a "buy" rating and a $19.00 price target for the company. Wells Fargo & Company dropped their target price on WAVE Life Sciences from $18.00 to $16.00 and set an "overweight" rating for the company in a report on Tuesday. Oppenheimer initiated coverage on shares of WAVE Life Sciences in a research note on Monday, July 28th. They set an "outperform" rating and a $24.00 price objective for the company. Finally, B. Riley restated a "buy" rating on shares of WAVE Life Sciences in a report on Thursday, September 4th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, WAVE Life Sciences presently has an average rating of "Moderate Buy" and an average target price of $19.73.
Check Out Our Latest Stock Analysis on WVE
WAVE Life Sciences Company Profile
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
