Key Points
- Director Heidi Wagner sold 14,000 shares of WAVE Life Sciences at an average price of $13.50 on Dec. 8 for $189,000, cutting her stake by 23.76% to 44,930 shares (about $606,555).
- Recent financials show weakness: the company missed quarterly estimates (EPS -$0.32 vs. -$0.30; revenue $7.61M vs. $9.85M), reports negative margins and ROE, and the stock has a one-year range of $5.28–$21.73 with a ~$3.31B market cap.
- Analyst outlook is broadly positive: twelve analysts rate WVE a Buy and one a Sell, with an average target of $27.46 and several firms raising targets (up to $40 from Canaccord).
WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) Director Heidi Wagner sold 14,000 shares of the company's stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $13.50, for a total transaction of $189,000.00. Following the transaction, the director directly owned 44,930 shares of the company's stock, valued at approximately $606,555. This trade represents a 23.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.
WAVE Life Sciences Price Performance
NASDAQ WVE opened at $19.79 on Thursday. WAVE Life Sciences Ltd. has a 1 year low of $5.28 and a 1 year high of $21.73. The stock has a market capitalization of $3.31 billion, a PE ratio of -26.43 and a beta of -1.72. The business's 50-day moving average is $8.27 and its 200 day moving average is $7.90.
WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last released 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 analysts' expectations of $9.85 million. WAVE Life Sciences had a negative return on equity of 75.61% and a negative net margin of 111.64%. As a group, equities research analysts anticipate that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current year.
Analyst Upgrades and Downgrades
WVE has been the topic of several recent analyst reports. Morgan Stanley set a $28.00 price target on shares of WAVE Life Sciences in a report on Monday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of WAVE Life Sciences in a research note on Wednesday, October 8th. Wells Fargo & Company boosted their price target on shares of WAVE Life Sciences from $16.00 to $29.00 and gave the company an "overweight" rating in a research report on Tuesday. Canaccord Genuity Group raised their price objective on shares of WAVE Life Sciences from $19.00 to $40.00 and gave the stock a "buy" rating in a report on Monday. Finally, Wedbush upped their target price on WAVE Life Sciences from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Tuesday, November 11th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $27.46.
Get Our Latest Analysis on WAVE Life Sciences
Institutional Investors Weigh In On WAVE Life Sciences
Several hedge funds have recently bought and sold shares of the business. CIBC Bancorp USA Inc. purchased a new stake in WAVE Life Sciences in the third quarter worth about $87,000. Polar Capital Holdings Plc boosted its position in shares of WAVE Life Sciences by 5.9% in the 3rd quarter. Polar Capital Holdings Plc now owns 1,062,276 shares of the company's stock worth $7,776,000 after purchasing an additional 58,776 shares in the last quarter. HighVista Strategies LLC grew its stake in shares of WAVE Life Sciences by 64.8% in the 3rd quarter. HighVista Strategies LLC now owns 59,261 shares of the company's stock worth $434,000 after buying an additional 23,303 shares during the last quarter. Bank of America Corp DE grew its stake in shares of WAVE Life Sciences by 3.0% in the 3rd quarter. Bank of America Corp DE now owns 665,150 shares of the company's stock worth $4,869,000 after buying an additional 19,590 shares during the last quarter. Finally, Ameriprise Financial Inc. bought a new position in WAVE Life Sciences during the 3rd quarter valued at approximately $790,000. Institutional investors own 89.73% of the company's stock.
About WAVE Life Sciences
(
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.
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