Insider Selling: Wave Life Sciences Ltd. (NASDAQ:WVE) CEO Sells 51,234 Shares of Stock

Wave Life Sciences Ltd. (NASDAQ:WVE) CEO Paul Bolno sold 51,234 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $14.32, for a total transaction of $733,670.88. Following the completion of the sale, the chief executive officer now owns 217,351 shares in the company, valued at approximately $3,112,466.32. This trade represents a 19.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Paul Bolno also recently made the following trade(s):

• On Wednesday, October 16th, Paul Bolno sold 90,474 shares of Wave Life Sciences stock. The shares were sold at an average price of $15.00, for a total value of $1,357,110.00.
• On Wednesday, August 21st, Paul Bolno sold 48,366 shares of Wave Life Sciences stock. The stock was sold at an average price of $5.78, for a total value of $279,555.48.

Wave Life Sciences Stock Performance

WVE opened at $13.67 on Monday. The company has a market capitalization of $2.08 billion, a PE ratio of -12.32 and a beta of -1.20. The stock’s fifty day moving average is $10.76 and its 200-day moving average is $7.54. Wave Life Sciences Ltd. has a one year low of $3.50 and a one year high of $16.74.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on WVE shares. JPMorgan Chase & Co. lifted their price objective on shares of Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Royal Bank of Canada increased their price objective on shares of Wave Life Sciences from $7.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Monday, October 21st. Wells Fargo & Company lifted their target price on Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Leerink Partners increased their price target on Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $22.00 target price on shares of Wave Life Sciences in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.89.

Institutional Investors Weigh In On Wave Life Sciences

Institutional investors and hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Wave Life Sciences by 23.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock worth $37,000 after purchasing an additional 856 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Wave Life Sciences by 13.6% during the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after acquiring an additional 1,905 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Wave Life Sciences by 50.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after acquiring an additional 2,451 shares during the last quarter. Rhumbline Advisers raised its position in shares of Wave Life Sciences by 3.4% during the second quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock worth $628,000 after purchasing an additional 4,092 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of Wave Life Sciences by 2.7% during the first quarter. Swiss National Bank now owns 156,500 shares of the company’s stock valued at $966,000 after purchasing an additional 4,100 shares during the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.

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.