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

Wave Life Sciences Ltd. (NASDAQ:WVE)’s share 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 traded hands during trading, a decline of 35% from the average daily volume of 831,470 shares. The stock had previously closed at $6.14.

Analysts Set New Price Targets

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

Wave Life Sciences Trading Up 1.0 %

The firm’s fifty day moving average price is $5.73 and its two-hundred day moving average price is $5.19. The stock has a market capitalization of $715.57 million, a PE ratio of -10.64 and a beta of -0.99.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Wednesday, March 6th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.04. The company had revenue of $29.06 million for the quarter, compared to analyst estimates of $23.30 million. During the same quarter last year, the company earned ($0.47) EPS. As a group, sell-side analysts anticipate that Wave Life Sciences Ltd. will post -0.94 earnings per share for the current fiscal year.

Insider Activity at Wave Life Sciences

In other news, CFO Kyle Moran sold 15,630 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $6.17, for a total transaction of $96,437.10. Following the sale, the chief financial officer now owns 33,921 shares of the company’s stock, valued at $209,292.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 31.10% of the stock is currently owned by company insiders.

Institutional Trading of Wave Life Sciences

Several institutional investors have recently modified their holdings of WVE. ProShare Advisors LLC boosted its position in shares of Wave Life Sciences by 35.0% in the 1st quarter. ProShare Advisors LLC now owns 21,764 shares of the company’s stock valued at $134,000 after purchasing an additional 5,648 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Wave Life Sciences in the first quarter valued at approximately $405,000. Swiss National Bank grew its position in shares of Wave Life Sciences by 2.7% during the first quarter. Swiss National Bank now owns 156,500 shares of the company’s stock worth $966,000 after acquiring an additional 4,100 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Wave Life Sciences in the 1st quarter valued at $586,000. Finally, Capstone Investment Advisors LLC grew 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 worth $336,000 after purchasing an additional 4,500 shares during the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

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.