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

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) were down 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 changed hands during mid-day 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

WVE has been the topic of several recent research reports. Truist Financial reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Wave Life Sciences in a research note on Monday, April 1st. HC Wainwright boosted their price target on Wave Life Sciences from $8.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $5.00 price objective on shares of Wave Life Sciences in a report on Thursday, March 7th. Finally, StockNews.com lowered Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 18th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $10.14.

Wave Life Sciences Trading Up 1.0 %

The company’s fifty day simple moving average is $5.73 and its 200 day simple moving average is $5.19. The stock has a market capitalization of $715.57 million, a P/E ratio of -10.64 and a beta of -0.99.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Wednesday, March 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.04. The business had revenue of $29.06 million during the quarter, compared to the consensus estimate of $23.30 million. During the same quarter in the previous year, the business earned ($0.47) earnings per share. Equities research analysts predict that Wave Life Sciences Ltd. will post -0.94 earnings per share for the current year.

Insider Activity

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

Hedge Funds Weigh In On Wave Life Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of WVE. Oxford Asset Management LLP acquired a new position in Wave Life Sciences during the fourth quarter worth $51,000. Tower Research Capital LLC TRC raised its holdings in Wave Life Sciences by 461.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,335 shares of the company’s stock worth $57,000 after purchasing an additional 9,316 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Wave Life Sciences by 351.7% in the 4th 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 period. Public Employees Retirement System of Ohio purchased a new position in Wave Life Sciences during the 4th quarter worth $64,000. Finally, Teacher Retirement System of Texas acquired a new position in Wave Life Sciences in the 4th quarter valued at $86,000. Institutional investors and hedge funds 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.