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 Wave Life Sciences stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $15.00, for a total value of $750,000.00. Following the completion of the transaction, the chief executive officer now owns 217,351 shares in the company, valued at $3,260,265. This trade represents a 18.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 transaction 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 transaction of $1,357,110.00.

Wave Life Sciences Trading Up 1.1 %

WVE stock opened at $14.99 on Thursday. The business’s 50-day moving average is $12.12 and its 200 day moving average is $8.02. Wave Life Sciences Ltd. has a 12-month low of $3.50 and a 12-month high of $16.74. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of -13.50 and a beta of -1.20.

Institutional Trading of Wave Life Sciences

Several large investors have recently made changes to their positions in WVE. ProShare Advisors LLC grew its holdings in shares of Wave Life Sciences by 35.0% during the first quarter. ProShare Advisors LLC now owns 21,764 shares of the company’s stock worth $134,000 after buying an additional 5,648 shares in the last quarter. Vanguard Group Inc. lifted its stake in Wave Life Sciences by 39.7% in the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock worth $11,316,000 after purchasing an additional 521,665 shares in the last quarter. American International Group Inc. boosted its holdings in shares of Wave Life Sciences by 23.3% during the 1st quarter. American International Group Inc. now owns 36,241 shares of the company’s stock worth $224,000 after purchasing an additional 6,851 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Wave Life Sciences by 14.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,861,254 shares of the company’s stock valued at $11,485,000 after purchasing an additional 233,891 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Wave Life Sciences by 13.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 241,860 shares of the company’s stock valued at $1,492,000 after purchasing an additional 29,483 shares during the last quarter. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wells Fargo & Company upped their target price on Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Royal Bank of Canada upped their price objective on shares of Wave Life Sciences from $7.00 to $15.00 and gave the company a “sector perform” rating in a report on Monday, October 21st. Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $13.00 to $22.00 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 company a “buy” rating in a research report on Tuesday, November 12th. Finally, StockNews.com lowered Wave Life Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.22.

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.