Key Points
- Major shareholder Plc Gsk bought 1,470,000 WAVE shares at $19.00 each (about $27.93M), increasing its holding to 18,245,691 shares — an approximate 8.76% rise in ownership.
- Research firms have raised targets (Canaccord to $40, B. Riley to $37) and the consensus from analysts is a Moderate Buy with an average price target of $30.47.
- WAVE recently missed quarterly EPS and revenue estimates, reports negative margins and ROE, and is trading around $16.11 with a 12‑month range of $5.28–$21.73 and a market cap of $2.69B.
WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) major shareholder Plc Gsk bought 1,470,000 shares of the stock in a transaction on Thursday, December 11th. The stock was purchased at an average cost of $19.00 per share, with a total value of $27,930,000.00. Following the acquisition, the insider owned 18,245,691 shares in the company, valued at approximately $346,668,129. This represents a 8.76% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.
WAVE Life Sciences Trading Down 2.7%
Shares of WVE stock opened at $16.11 on Tuesday. The business's 50-day moving average price is $8.84 and its 200-day moving average price is $8.13. WAVE Life Sciences Ltd. has a 12 month low of $5.28 and a 12 month high of $21.73. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of -21.48 and a beta of -1.72.
WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last posted its earnings results on Monday, November 10th. The company reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.02). The business had revenue of $7.61 million for the quarter, compared to the consensus estimate of $9.85 million. WAVE Life Sciences had a negative return on equity of 75.61% and a negative net margin of 111.64%. On average, sell-side analysts predict that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of research firms have commented on WVE. Canaccord Genuity Group upped their price target on WAVE Life Sciences from $19.00 to $40.00 and gave the company a "buy" rating in a research report on Monday, December 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of WAVE Life Sciences in a report on Wednesday, October 8th. B. Riley raised their price target on shares of WAVE Life Sciences from $19.00 to $37.00 and gave the stock a "buy" rating in a report on Friday. Leerink Partners restated an "outperform" rating on shares of WAVE Life Sciences in a research report on Monday, December 8th. Finally, Morgan Stanley set a $28.00 price objective on shares of WAVE Life Sciences in a research report on Monday, December 8th. Thirteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $30.47.
Read Our Latest Analysis on WVE
Institutional Trading of WAVE Life Sciences
Several hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. increased its stake in WAVE Life Sciences by 1,156.3% in the third quarter. Bessemer Group Inc. now owns 9,925 shares of the company's stock valued at $72,000 after purchasing an additional 9,135 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of WAVE Life Sciences by 1,441.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company's stock valued at $73,000 after buying an additional 9,284 shares during the period. Ameritas Investment Partners Inc. increased its position in WAVE Life Sciences by 18.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company's stock valued at $74,000 after buying an additional 1,802 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in WAVE Life Sciences by 44.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company's stock worth $76,000 after buying an additional 3,609 shares during the period. Finally, Prudential Financial Inc. bought a new position in WAVE Life Sciences in the second quarter worth approximately $80,000. 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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