Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Wave Life Sciences Ltd. shares valued at $96,421 were sold by Moran Kyle on Apr 03 ’24. At $6.17 per share, Moran Kyle sold 15,630 shares. The insider’s holdings dropped to 33,921 shares worth approximately $0.16 million following the completion of this transaction.
Also, RA CAPITAL MANAGEMENT, L.P. purchased 1,000,000 shares, netting a total of over 5,000,000 in proceeds. Following the buying of shares at $5.00 each, the insider now holds 19,202,009 shares.
Before that, GSK plc had added 3,300,000 shares to its account. In a trade valued at $16,500,000, the 10% Owner bought Wave Life Sciences Ltd. shares for $5.00 each. Upon closing the transaction, the insider’s holdings increased to 3,300,000 shares, worth approximately $66.98 million.
As published in a research note from Leerink Partners on December 19, 2023, Wave Life Sciences Ltd. [WVE] has been rated up from a Market perform to an Outperform and the price target has been revised to $12 from $5. Analysts at Raymond James started covering the stock with ‘”an Outperform”‘ outlook in a report released in early July. As of May 24, 2023, Jefferies has decreased its “Buy” rating to a “Hold” for WVE.
Analyzing WVE Stock Performance
During the last five days, there has been a drop of approximately -20.70%. Over the course of the year, Wave Life Sciences Ltd. shares have dropped approximately -5.15%. Shares of the company reached a 52-week high of $7.67 on 03/07/24 and a 52-week low of $3.50 on 02/14/24. A 50-day SMA is recorded $5.36, while a 200-day SMA reached $5.03. Nevertheless, trading volume fell to 0.63 million shares from 0.53 million shares the previous day.
Support And Resistance Levels for Wave Life Sciences Ltd. (WVE)
According to the 24-hour chart, there is a support level at 4.61, which, if violated, would cause prices to drop to 4.43. In the upper region, resistance lies at 5.14. The next price resistance is at 5.49. RSI (Relative Strength Index) is 33.54 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.57, which suggests the price will decrease in the coming days. Percent R is at 99.35%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
