Wave Life Sciences Ltd. (NASDAQ:WVE) Short Interest Up 39.5% in October

Wave Life Sciences Ltd. (NASDAQ:WVE) was the target of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 6,820,000 shares, an increase of 39.5% from the October 15th total of 4,890,000 shares. Based on an average trading volume of 1,690,000 shares, the short-interest ratio is presently 4.0 days.

Insider Buying and Selling at Wave Life Sciences

In related news, CFO Kyle Moran sold 17,146 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total transaction of $154,314.00. Following the completion of the transaction, the chief financial officer now owns 19,777 shares of the company’s stock, valued at $177,993. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Kyle Moran sold 17,146 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total transaction of $154,314.00. Following the sale, the chief financial officer now directly owns 19,777 shares of the company’s stock, valued at $177,993. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Paul Bolno sold 48,366 shares of Wave Life Sciences stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total value of $279,555.48. Following the transaction, the chief executive officer now owns 359,059 shares of the company’s stock, valued at approximately $2,075,361.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 400,822 shares of company stock worth $5,221,768. Company insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Wave Life Sciences by 23.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock worth $37,000 after purchasing an additional 856 shares during the period. Ameritas Investment Partners Inc. grew its stake in shares of Wave Life Sciences by 50.2% in the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after buying an additional 2,451 shares in the last quarter. Profund Advisors LLC purchased a new stake in shares of Wave Life Sciences in the 2nd quarter valued at $53,000. Principal Financial Group Inc. acquired a new position in Wave Life Sciences during the 2nd quarter worth about $74,000. Finally, Mackenzie Financial Corp boosted its holdings in Wave Life Sciences by 13.6% during the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after acquiring an additional 1,905 shares during the period. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Wave Life Sciences Trading Down 1.3 %

Shares of WVE opened at $15.69 on Thursday. The firm has a 50-day moving average price of $10.40 and a 200 day moving average price of $7.41. Wave Life Sciences has a 12-month low of $3.50 and a 12-month high of $16.74. The firm has a market capitalization of $1.96 billion, a P/E ratio of -14.14 and a beta of -1.20.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.19). The firm had revenue of ($7.68) million for the quarter, compared to analyst estimates of $15.45 million. Wave Life Sciences had a negative return on equity of 694.73% and a negative net margin of 66.50%. Equities research analysts predict that Wave Life Sciences will post -1.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

WVE has been the subject of a number of recent analyst reports. StockNews.com cut shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Raymond James raised Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $13.00 to $22.00 in a report on Wednesday, October 16th. Truist Financial upped their target price on Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Wells Fargo & Company boosted their price objective on Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Wave Life Sciences currently has an average rating of “Moderate Buy” and an average price target of $21.89.

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.