Wave Life Sciences (NASDAQ:WVE) Shares Down 4%

Wave Life Sciences Ltd. (NASDAQ:WVE)’s stock price fell 4% during mid-day trading on Friday . The company traded as low as $4.78 and last traded at $4.79. 148,555 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 860,821 shares. The stock had previously closed at $4.99.

Analysts Set New Price Targets

A number of research firms have issued reports on WVE. StockNews.com lowered shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $5.00 price objective on shares of Wave Life Sciences in a report on Thursday, March 7th. Wells Fargo & Company initiated coverage on shares of Wave Life Sciences in a report on Wednesday, May 15th. They set an “overweight” rating and a $11.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $15.00 price objective on shares of Wave Life Sciences in a report on Wednesday. Finally, Mizuho reiterated an “outperform” rating and set a $19.00 price objective on shares of Wave Life Sciences in a report on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.29.

Wave Life Sciences Price Performance

The company’s fifty day moving average is $5.72 and its 200 day moving average is $5.31.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The business had revenue of $12.54 million for the quarter, compared to the consensus estimate of $25.67 million. During the same period last year, the business earned ($0.27) earnings per share. As a group, equities analysts expect that Wave Life Sciences Ltd. will post -0.85 EPS for the current fiscal year.

Insider Buying and Selling at Wave Life Sciences

In other Wave Life Sciences news, CFO Kyle Moran sold 15,630 shares of the 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 sale, the chief financial officer now owns 33,921 shares of the company’s stock, valued at $209,292.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 31.10% of the stock is owned by corporate insiders.

Institutional Trading of Wave Life Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in WVE. Laurion Capital Management LP increased its stake in shares of Wave Life Sciences by 5.1% in the third quarter. Laurion Capital Management LP now owns 871,500 shares of the company’s stock worth $5,011,000 after buying an additional 42,662 shares during the last quarter. Wellington Management Group LLP increased its stake in Wave Life Sciences by 4.3% during the third quarter. Wellington Management Group LLP now owns 264,885 shares of the company’s stock valued at $1,523,000 after purchasing an additional 10,830 shares during the last quarter. Kraematon Investment Advisors Inc. bought a new stake in Wave Life Sciences during the fourth quarter valued at $237,000. SG Americas Securities LLC increased its stake in Wave Life Sciences by 33.6% during the fourth quarter. SG Americas Securities LLC now owns 34,562 shares of the company’s stock valued at $175,000 after purchasing an additional 8,694 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake 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 during the last quarter. 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.