Wave Life Sciences (NASDAQ:WVE) Trading Up 7.5%

Wave Life Sciences Ltd. (NASDAQ:WVE)’s stock price traded up 7.5% during trading on Thursday . The company traded as high as $5.89 and last traded at $5.88. 73,059 shares changed hands during trading, a decline of 91% from the average session volume of 802,285 shares. The stock had previously closed at $5.47.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on WVE shares. HC Wainwright reissued a “buy” rating and set a $15.00 target price on shares of Wave Life Sciences in a research note on Wednesday, June 26th. B. Riley initiated coverage on shares of Wave Life Sciences in a research note on Thursday. They set a “buy” rating and a $11.00 target price for the company. JPMorgan Chase & Co. assumed coverage on shares of Wave Life Sciences in a report on Monday, September 9th. They set an “overweight” rating and a $10.00 price objective for the company. Finally, Mizuho reaffirmed an “outperform” rating and issued a $19.00 target price 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 eight have issued a buy rating to the stock. According to MarketBeat.com, Wave Life Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $12.50.

Wave Life Sciences Trading Down 4.4 %

The stock has a market cap of $708.52 million, a P/E ratio of -10.92 and a beta of -1.13. The company has a 50-day moving average price of $5.84 and a two-hundred day moving average price of $5.80.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The firm had revenue of $19.69 million for the quarter, compared to analysts’ expectations of $24.80 million. Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. During the same period in the prior year, the firm posted ($0.20) earnings per share. As a group, equities analysts forecast that Wave Life Sciences Ltd. will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 29.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wave Life Sciences

A number of hedge funds have recently added to or reduced their stakes in the stock. M28 Capital Management LP grew its stake in Wave Life Sciences by 4.7% in the fourth quarter. M28 Capital Management LP now owns 7,373,413 shares of the company’s stock worth $37,236,000 after purchasing an additional 328,913 shares in the last quarter. Artal Group S.A. increased its stake in shares of Wave Life Sciences by 34.7% during the first quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock valued at $24,997,000 after buying an additional 1,044,000 shares during the period. Emerald Advisers LLC bought a new stake in shares of Wave Life Sciences in the second quarter valued at about $12,441,000. Price T Rowe Associates Inc. MD lifted its stake in Wave Life Sciences by 14.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,861,254 shares of the company’s stock worth $11,485,000 after acquiring an additional 233,891 shares during the period. Finally, Vanguard Group Inc. increased its position in Wave Life Sciences by 39.7% during the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock valued at $11,316,000 after purchasing an additional 521,665 shares during the period. 89.73% of the stock is currently owned by institutional investors.

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.