Insider Selling: Wave Life Sciences Ltd. (NASDAQ:WVE) Insider Sells 36,000 Shares of Stock

Wave Life Sciences Ltd. (NASDAQ:WVE) insider Chris Francis sold 36,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $16.00, for a total value of $576,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Chris Francis also recently made the following trade(s):

• On Wednesday, October 16th, Chris Francis sold 208,836 shares of Wave Life Sciences stock. The shares were sold at an average price of $13.67, for a total value of $2,854,788.12.

Wave Life Sciences Trading Down 1.3 %

Shares of NASDAQ WVE opened at $15.69 on Thursday. The stock has a 50 day moving average price of $10.40 and a 200 day moving average price of $7.41. Wave Life Sciences Ltd. has a 52-week low of $3.50 and a 52-week high of $16.74.

Wave Life Sciences (NASDAQ:WVE) last posted its earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.19). Wave Life Sciences had a negative return on equity of 694.73% and a negative net margin of 66.50%. The company had revenue of ($7.68) million for the quarter, compared to analysts’ expectations of $15.45 million. Research analysts predict that Wave Life Sciences Ltd. will post -1.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Wave Life Sciences

Several hedge funds have recently made changes to their positions in the company. Emerald Advisers LLC acquired a new stake in Wave Life Sciences during the 2nd quarter worth about $12,441,000. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Wave Life Sciences during the 2nd quarter valued at about $9,086,000. Artal Group S.A. grew its position in shares of Wave Life Sciences by 34.7% during the 1st quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock valued at $24,997,000 after acquiring an additional 1,044,000 shares during the period. FMR LLC grew its position in shares of Wave Life Sciences by 174.5% during the 3rd quarter. FMR LLC now owns 1,540,190 shares of the company’s stock valued at $12,630,000 after acquiring an additional 979,110 shares during the period. Finally, Ikarian Capital LLC acquired a new stake in shares of Wave Life Sciences during the 1st quarter valued at about $3,641,000. 89.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on WVE. StockNews.com lowered Wave Life Sciences from a “hold” rating to a “sell” rating in a research report on Wednesday. B. Riley increased their target price on Wave Life Sciences from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. upped their price target on Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Wells Fargo & Company increased 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. Finally, Raymond James upgraded Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $13.00 to $22.00 in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Wave Life Sciences presently has an average rating of “Moderate Buy” and an average price target of $21.89.

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.