Wave Life Sciences (NASDAQ:WVE) Shares Down 6.2%

Wave Life Sciences Ltd. (NASDAQ:WVE)’s stock price dropped 6.2% during mid-day trading on Monday . The company traded as low as $5.75 and last traded at $5.76. Approximately 539,734 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 831,470 shares. The stock had previously closed at $6.14.

Analyst Upgrades and Downgrades

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

Wave Life Sciences Stock Down 6.4 %

The company has a market capitalization of $703.34 million, a PE ratio of -10.45 and a beta of -0.99. The firm’s 50-day moving average is $5.68 and its 200-day moving average is $5.18.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings data on Wednesday, March 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.04. The firm had revenue of $29.06 million during the quarter, compared to analysts’ expectations of $23.30 million. During the same quarter in the previous year, the company posted ($0.47) earnings per share. As a group, equities research analysts predict that Wave Life Sciences Ltd. will post -0.94 EPS for the current year.

Insider Buying and Selling at Wave Life Sciences

In other Wave Life Sciences news, CFO Kyle Moran sold 15,630 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 33,921 shares of the company’s stock, valued at $209,292.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 31.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

A number of large investors have recently added to or reduced their stakes in WVE. GSA Capital Partners LLP purchased a new stake in shares of Wave Life Sciences in the 1st quarter worth about $586,000. Capstone Investment Advisors LLC lifted its position in Wave Life Sciences by 9.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 54,500 shares of the company’s stock valued at $336,000 after acquiring an additional 4,500 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Wave Life Sciences by 104.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 23,473 shares of the company’s stock valued at $145,000 after purchasing an additional 12,017 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Wave Life Sciences by 3.5% in the 4th quarter. Wellington Management Group LLP now owns 274,093 shares of the company’s stock worth $1,384,000 after purchasing an additional 9,208 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Wave Life Sciences in the 4th quarter worth approximately $174,000. Institutional investors own 89.73% of the company’s stock.

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.