Wave Life Sciences Ltd. (NASDAQ:WVE) CEO Paul Bolno Sells 50,000 Shares

Wave Life Sciences Ltd. (NASDAQ:WVE) CEO Paul Bolno sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $15.00, for a total transaction of $750,000.00. Following the completion of the sale, the chief executive officer now owns 217,351 shares in the company, valued at $3,260,265. This represents a 18.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, November 15th, Paul Bolno sold 51,234 shares of Wave Life Sciences stock. The shares were sold at an average price of $14.32, for a total value of $733,670.88.
• On Wednesday, October 16th, Paul Bolno sold 90,474 shares of Wave Life Sciences stock. The stock was sold at an average price of $15.00, for a total value of $1,357,110.00.

Wave Life Sciences Trading Up 0.7 %

Shares of Wave Life Sciences stock opened at $15.10 on Friday. The business has a 50-day moving average price of $12.49 and a two-hundred day moving average price of $8.13. Wave Life Sciences Ltd. has a 1-year low of $3.50 and a 1-year high of $16.74. The company has a market cap of $2.30 billion, a P/E ratio of -13.60 and a beta of -1.20.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Leerink Partners lifted their price target on Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Truist Financial boosted their target price on shares of Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. B. Riley raised their price target on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company boosted their price objective on shares of Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Raymond James raised Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $13.00 to $22.00 in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.22.

Institutional Investors Weigh In On Wave Life Sciences

A number of hedge funds have recently added to or reduced their stakes in WVE. Mirae Asset Global Investments Co. Ltd. increased 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 valued at $37,000 after acquiring an additional 856 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Wave Life Sciences by 13.6% in the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after purchasing an additional 1,905 shares during the period. Rhumbline Advisers increased its stake in Wave Life Sciences by 3.4% in the second quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock valued at $628,000 after purchasing an additional 4,092 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Wave Life Sciences by 3.6% during the second quarter. The Manufacturers Life Insurance Company now owns 139,790 shares of the company’s stock valued at $698,000 after purchasing an additional 4,914 shares during the period. Finally, ProShare Advisors LLC boosted its position in shares of Wave Life Sciences by 35.0% during the 1st quarter. ProShare Advisors LLC now owns 21,764 shares of the company’s stock worth $134,000 after purchasing an additional 5,648 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors.

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.