Wave Life Sciences Ltd (NASDAQ:WVE) Insider Sells $82,382.52 in Stock

Wave Life Sciences Ltd (NASDAQ:WVE) insider Michael A. Panzara sold 3,058 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $26.94, for a total transaction of $82,382.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of WVE opened at $26.04 on Friday. The company has a 50 day moving average of $25.40. The stock has a market capitalization of $899.80 million, a P/E ratio of -5.15 and a beta of 0.83. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.39 and a quick ratio of 2.39. Wave Life Sciences Ltd has a 1-year low of $22.25 and a 1-year high of $56.00.

Wave Life Sciences (NASDAQ:WVE) last announced its earnings results on Friday, May 10th. The company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.17). The company had revenue of $3.03 million during the quarter, compared to analysts’ expectations of $9.66 million. Wave Life Sciences had a negative net margin of 971.48% and a negative return on equity of 120.60%. As a group, research analysts anticipate that Wave Life Sciences Ltd will post -4.23 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Citigroup Inc. raised its stake in Wave Life Sciences by 189.4% in the fourth quarter. Citigroup Inc. now owns 2,807 shares of the company’s stock valued at $118,000 after purchasing an additional 1,837 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in Wave Life Sciences by 45.0% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,900 shares of the company’s stock valued at $122,000 after purchasing an additional 900 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Wave Life Sciences by 17.9% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,045 shares of the company’s stock valued at $118,000 after purchasing an additional 462 shares in the last quarter. Legal & General Group Plc raised its stake in Wave Life Sciences by 17.9% in the fourth quarter. Legal & General Group Plc now owns 3,094 shares of the company’s stock valued at $130,000 after purchasing an additional 469 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Wave Life Sciences during the first quarter valued at approximately $140,000. 85.62% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have recently issued reports on WVE shares. HC Wainwright downgraded shares of Hydrogenics from a “buy” rating to a “neutral” rating in a report on Friday, June 28th. ValuEngine downgraded shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. SunTrust Banks raised their target price on shares of Perrigo to $51.00 and gave the company a “hold” rating in a research note on Monday, May 20th. Mizuho set a $65.00 target price on shares of Wave Life Sciences and gave the company a “buy” rating in a research note on Saturday, June 29th. Finally, Stifel Nicolaus raised shares of QUALCOMM from a “hold” rating to a “buy” rating and raised their target price for the company from $57.00 to $100.00 in a research note on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $50.80.

About Wave Life Sciences

Wave Life Sciences Ltd., a clinical stage genetic medicine company, designs, optimizes, and produces of novel stereopure oligonucleotides through PRISM, a discovery and drug developing platform. The company is primarily 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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