WAVE Life Sciences Ltd. (NASDAQ:WVE) insider Michael A. Panzara sold 7,414 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $16.67, for a total transaction of $123,591.38. Following the sale, the insider now directly owns 15,336 shares in the company, valued at approximately $255,651.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of WAVE Life Sciences Ltd. (NASDAQ WVE) opened at 16.50 on Tuesday. The stock’s 50 day moving average is $20.59 and its 200-day moving average is $25.18. The firm’s market cap is $457.33 million. WAVE Life Sciences Ltd. has a 52 week low of $16.15 and a 52 week high of $40.15.
WAVE Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Wednesday, May 10th. The company reported ($0.89) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.77) by $0.12. WAVE Life Sciences had a negative return on equity of 48.16% and a negative net margin of 3,172.14%. The business had revenue of $0.68 million for the quarter, compared to analyst estimates of $0.80 million. On average, equities analysts predict that WAVE Life Sciences Ltd. will post ($3.25) EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in WVE. Renaissance Technologies LLC acquired a new position in shares of WAVE Life Sciences during the fourth quarter worth $403,000. FMR LLC raised its position in shares of WAVE Life Sciences by 1.7% in the fourth quarter. FMR LLC now owns 1,893,756 shares of the company’s stock worth $49,522,000 after buying an additional 31,907 shares in the last quarter. Teachers Advisors LLC raised its position in shares of WAVE Life Sciences by 10.0% in the fourth quarter. Teachers Advisors LLC now owns 13,088 shares of the company’s stock worth $342,000 after buying an additional 1,190 shares in the last quarter. Emory University raised its position in shares of WAVE Life Sciences by 31.2% in the first quarter. Emory University now owns 73,543 shares of the company’s stock worth $2,022,000 after buying an additional 17,469 shares in the last quarter. Finally, Strs Ohio raised its position in shares of WAVE Life Sciences by 86.7% in the first quarter. Strs Ohio now owns 11,200 shares of the company’s stock worth $308,000 after buying an additional 5,200 shares in the last quarter. 56.80% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on the stock. Jefferies Group LLC set a $42.00 price objective on shares of WAVE Life Sciences and gave the stock a “buy” rating in a research note on Thursday, June 8th. JMP Securities reaffirmed an “outperform” rating and set a $40.00 price objective on shares of WAVE Life Sciences in a research note on Friday, June 9th. ValuEngine cut shares of WAVE Life Sciences from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of WAVE Life Sciences in a research note on Monday, March 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $42.00.
About WAVE Life Sciences
WAVE Life Sciences Ltd. is a genetic medicines company. The Company, through its synthetic chemistry drug development platform, designs, develops and commercializes a pipeline of nucleic acid therapeutic candidates for genetically defined diseases. The Company is engaged in developing oligonucleotides that target genetic defects to either reduce the expression of disease-promoting proteins or transform the production of dysfunctional mutant proteins into the production of functional proteins.
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