Insider Selling: Wave Life Sciences Ltd. (NASDAQ:WVE) CFO Sells $154,314.00 in Stock

Wave Life Sciences Ltd. (NASDAQ:WVE) CFO Kyle Moran sold 17,146 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total transaction of $154,314.00. Following the transaction, the chief financial officer now directly owns 19,777 shares of the company’s stock, valued at $177,993. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Wave Life Sciences Stock Up 3.4 %

Shares of WVE stock opened at $8.29 on Monday. Wave Life Sciences Ltd. has a 1 year low of $3.50 and a 1 year high of $9.92. The stock has a fifty day moving average price of $6.03 and a 200 day moving average price of $5.85.

Wave Life Sciences (NASDAQ:WVE) last issued its earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The business had revenue of $19.69 million during the quarter, compared to analysts’ expectations of $24.80 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. During the same period in the prior year, the business posted ($0.20) EPS. As a group, equities analysts forecast that Wave Life Sciences Ltd. will post -1.04 earnings per share for the current year.

Institutional Trading of Wave Life Sciences

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Driehaus Capital Management LLC raised its stake in Wave Life Sciences by 62.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 908,096 shares of the company’s stock valued at $4,531,000 after acquiring an additional 348,300 shares in the last quarter. Mackenzie Financial Corp grew its stake in Wave Life Sciences by 13.6% during the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after acquiring an additional 1,905 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Wave Life Sciences by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 139,790 shares of the company’s stock worth $698,000 after purchasing an additional 4,914 shares during the last quarter. Millennium Management LLC raised its stake in shares of Wave Life Sciences by 1.8% during the 2nd quarter. Millennium Management LLC now owns 1,664,300 shares of the company’s stock worth $8,305,000 after purchasing an additional 28,690 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Wave Life Sciences by 26.3% in the second quarter. AQR Capital Management LLC now owns 33,529 shares of the company’s stock valued at $167,000 after acquiring an additional 6,973 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WVE has been the subject of a number of analyst reports. B. Riley initiated coverage on shares of Wave Life Sciences in a research report on Thursday, September 19th. They issued a “buy” rating and a $11.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on Wave Life Sciences in a research report on Friday. They issued an “overweight” rating and a $13.00 target price on the stock. HC Wainwright boosted their price target on shares of Wave Life Sciences from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, Mizuho restated an “outperform” rating and set a $19.00 price objective on shares of Wave Life Sciences in a research report on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.75.

About Wave Life Sciences

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.