Paul Bolno Sells 90,474 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) Stock

Wave Life Sciences Ltd. (NASDAQ:WVE) CEO Paul Bolno sold 90,474 shares of Wave Life Sciences stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $15.00, for a total transaction of $1,357,110.00. Following the completion of the sale, the chief executive officer now directly owns 268,585 shares of the company’s stock, valued at $4,028,775. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• 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 transaction of $279,555.48.

Wave Life Sciences Price Performance

Shares of WVE traded up $0.70 during trading hours on Friday, reaching $15.31. 2,030,381 shares of the company’s stock traded hands, compared to its average volume of 1,089,892. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -28.10 and a beta of -1.10. The business’s fifty day simple moving average is $6.90 and its two-hundred day simple moving average is $6.16. Wave Life Sciences Ltd. has a twelve month low of $3.50 and a twelve month high of $15.92.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.09). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. The firm had revenue of $19.69 million during the quarter, compared to analyst estimates of $24.80 million. During the same quarter last year, the company earned ($0.20) EPS. On average, equities research analysts expect that Wave Life Sciences Ltd. will post -1.02 EPS for the current year.

Analysts Set New Price Targets

WVE has been the subject of a number of research reports. Leerink Partners boosted their price target on Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday. Raymond James upgraded Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $13.00 to $22.00 in a report on Wednesday. Mizuho reissued an “outperform” rating and set a $19.00 target price on shares of Wave Life Sciences in a research report on Tuesday, June 25th. Royal Bank of Canada raised their target price on Wave Life Sciences from $5.00 to $7.00 and gave the company a “sector perform” rating in a research note on Friday, October 4th. Finally, HC Wainwright reiterated a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Wave Life Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $18.56.

Institutional Investors Weigh In On Wave Life Sciences

Several hedge funds have recently modified their holdings of WVE. Ameritas Investment Partners Inc. raised its holdings in shares of Wave Life Sciences by 50.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after acquiring an additional 2,451 shares during the period. Profund Advisors LLC acquired a new stake in shares of Wave Life Sciences in the second quarter worth $53,000. Principal Financial Group Inc. acquired a new position in Wave Life Sciences during the second quarter valued at $74,000. Mackenzie Financial Corp increased its holdings in shares of Wave Life Sciences by 13.6% in the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after purchasing an additional 1,905 shares during the period. Finally, Hsbc Holdings PLC purchased a new stake in shares of Wave Life Sciences in the second quarter worth approximately $104,000. 89.73% of the stock is owned by hedge funds and other institutional investors.

Wave Life Sciences Company Profile

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.