Wave Life Sciences (NASDAQ:WVE) Shares Gap Down to $4.77

Wave Life Sciences Ltd. (NASDAQ:WVE) gapped down prior to trading on Wednesday . The stock had previously closed at $4.77, but opened at $4.63. Wave Life Sciences shares last traded at $4.55, with a volume of 294,396 shares trading hands.

Analysts Set New Price Targets

Several brokerages recently issued reports on WVE. Royal Bank of Canada reiterated a “sector perform” rating and set a $5.00 price target on shares of Wave Life Sciences in a report on Thursday, March 7th. Truist Financial restated a “buy” rating and issued a $17.00 target price on shares of Wave Life Sciences in a research note on Monday, April 1st. Mizuho reiterated an “outperform” rating and set a $19.00 price target on shares of Wave Life Sciences in a report on Tuesday. StockNews.com downgraded Wave Life Sciences from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Finally, HC Wainwright restated a “buy” rating and set a $15.00 price objective on shares of Wave Life Sciences in a report on Wednesday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $12.29.

Wave Life Sciences Stock Up 14.1 %

The company’s fifty day moving average is $5.72 and its 200 day moving average is $5.30.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The firm had revenue of $12.54 million during the quarter, compared to the consensus estimate of $25.67 million. During the same period in the previous year, the business posted ($0.27) EPS. On average, analysts predict that Wave Life Sciences Ltd. will post -0.85 earnings per share for the current year.

Insider Buying and Selling 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 shares were sold at an average price of $6.17, for a total value of $96,437.10. Following the transaction, 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 legal filing with the SEC, which is available at the SEC website. Insiders own 31.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Laurion Capital Management LP lifted its position in Wave Life Sciences by 5.1% during the third quarter. Laurion Capital Management LP now owns 871,500 shares of the company’s stock valued at $5,011,000 after purchasing an additional 42,662 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Wave Life Sciences by 4.3% during the 3rd quarter. Wellington Management Group LLP now owns 264,885 shares of the company’s stock worth $1,523,000 after acquiring an additional 10,830 shares during the last quarter. Kraematon Investment Advisors Inc. purchased a new position in Wave Life Sciences in the fourth quarter worth $237,000. SG Americas Securities LLC increased its stake in Wave Life Sciences by 33.6% in the fourth quarter. SG Americas Securities LLC now owns 34,562 shares of the company’s stock valued at $175,000 after acquiring an additional 8,694 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in Wave Life Sciences by 351.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,456 shares of the company’s stock valued at $58,000 after purchasing an additional 8,920 shares in the last quarter. Hedge funds and other 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.