Wave Life Sciences Ltd. (NASDAQ:WVE) Short Interest Update

Wave Life Sciences Ltd. (NASDAQ:WVE) was the recipient of a significant increase in short interest during 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 daily volume of 1,690,000 shares, the days-to-cover ratio is presently 4.0 days.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Truist Financial lifted 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. B. Riley boosted their target price on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $13.00 to $22.00 in a research note on Wednesday, October 16th. StockNews.com downgraded Wave Life Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Leerink Partners raised their target price on Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $21.89.

Insider Transactions at Wave Life Sciences

In other Wave Life Sciences news, CFO Kyle Moran sold 17,146 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the completion of the sale, the chief financial officer now owns 19,777 shares in the company, valued at approximately $177,993. This trade represents a 46.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 359,059 shares in the company, valued at $2,075,361.02. The trade was a 11.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 452,056 shares of company stock valued at $5,955,438 over the last ninety days. 29.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wave Life Sciences

Several hedge funds have recently bought and sold shares of WVE. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 valued at $37,000 after buying an additional 856 shares in the last quarter. Ameritas Investment Partners Inc. increased its position 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 acquiring an additional 2,451 shares during the period. Profund Advisors LLC bought a new position in Wave Life Sciences during the 2nd quarter valued at approximately $53,000. Point72 DIFC Ltd bought a new position in shares of Wave Life Sciences during the third quarter valued at approximately $98,000. Finally, Principal Financial Group Inc. bought a new position in Wave Life Sciences in the 2nd quarter worth $74,000. 89.73% of the stock is currently owned by institutional investors.

Wave Life Sciences Stock Performance

Shares of WVE opened at $13.67 on Friday. Wave Life Sciences has a 52-week low of $3.50 and a 52-week high of $16.74. The stock’s 50-day simple moving average is $10.76 and its 200 day simple moving average is $7.52. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -12.32 and a beta of -1.20.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.19). The firm had revenue of ($7.68) million during the quarter, compared to the consensus estimate of $15.45 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. On average, research analysts forecast that Wave Life Sciences will post -1.06 earnings per share for the current fiscal year.

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.