Wave Life Sciences (NASDAQ:WVE) Trading Down 4.9%

Wave Life Sciences Ltd. (NASDAQ:WVE) traded down 4.9% during trading on Tuesday . The stock traded as low as $5.45 and last traded at $5.46. 194,685 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 869,616 shares. The stock had previously closed at $5.74.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WVE. StockNews.com downgraded shares of Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $5.00 price objective on shares of Wave Life Sciences in a research report on Thursday, March 7th. Truist Financial reissued a “buy” rating and set a $17.00 target price on shares of Wave Life Sciences in a report on Monday, April 1st. Finally, HC Wainwright raised their price target on Wave Life Sciences from $8.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.14.

Wave Life Sciences Stock Up 0.2 %

The stock has a market cap of $586.94 million, a P/E ratio of -8.73 and a beta of -1.12. The company’s 50 day moving average price is $5.40 and its 200-day moving average price is $5.23.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Wednesday, March 6th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.04. The company had revenue of $29.06 million during the quarter, compared to the consensus estimate of $23.30 million. During the same quarter last year, the firm posted ($0.47) EPS. Equities research analysts anticipate that Wave Life Sciences Ltd. will post -0.94 earnings per share for the current year.

Insider Transactions at Wave Life Sciences

In related news, CFO Kyle Moran sold 15,630 shares of Wave Life Sciences stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $6.17, for a total value of $96,437.10. Following the completion of the transaction, the chief financial officer now directly owns 33,921 shares in the company, valued at approximately $209,292.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 31.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wave Life Sciences

A number of hedge funds have recently made changes to their positions in the business. James J. Burns & Company LLC lifted its position in Wave Life Sciences by 10.2% in the third quarter. James J. Burns & Company LLC now owns 33,049 shares of the company’s stock valued at $190,000 after purchasing an additional 3,049 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Wave Life Sciences by 1.6% in the first quarter. Wellington Management Group LLP now owns 244,998 shares of the company’s stock worth $1,061,000 after buying an additional 3,857 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Wave Life Sciences by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 169,693 shares of the company’s stock valued at $976,000 after buying an additional 4,555 shares during the last quarter. Rhumbline Advisers boosted its position in Wave Life Sciences by 5.7% during the 3rd quarter. Rhumbline Advisers now owns 111,511 shares of the company’s stock valued at $641,000 after buying an additional 6,026 shares during the period. Finally, Royal Bank of Canada boosted its position in Wave Life Sciences by 257.9% during the 2nd quarter. Royal Bank of Canada now owns 8,787 shares of the company’s stock valued at $32,000 after buying an additional 6,332 shares during the period. 89.73% of the stock is currently owned by institutional investors.

Wave Life Sciences Company Profile

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.