Wave Life Sciences (NASDAQ:WVE) Stock Price Up 7.3%

Wave Life Sciences Ltd. (NASDAQ:WVE) shares rose 7.3% during mid-day trading on Thursday . The stock traded as high as $4.75 and last traded at $4.70. Approximately 282,061 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 851,864 shares. The stock had previously closed at $4.38.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Wells Fargo & Company assumed coverage on Wave Life Sciences in a research note on Wednesday, May 15th. They issued an “overweight” rating and a $11.00 target price on the stock. StockNews.com cut Wave Life Sciences from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. 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. Royal Bank of Canada restated a “sector perform” rating and issued a $5.00 target price on shares of Wave Life Sciences in a research note on Thursday, March 7th. Finally, Mizuho reiterated an “outperform” rating and set a $19.00 price objective on shares of Wave Life Sciences in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.29.

Wave Life Sciences Stock Performance

The business has a fifty day moving average of $5.72 and a two-hundred day moving average of $5.31.

Wave Life Sciences (NASDAQ:WVE) last posted its earnings results on Thursday, May 9th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The company had revenue of $12.54 million during the quarter, compared to analyst estimates of $25.67 million. During the same quarter in the previous year, the firm earned ($0.27) earnings per share. Analysts anticipate that Wave Life Sciences Ltd. will post -0.85 earnings per share 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 company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $6.17, for a total value of $96,437.10. Following the transaction, the chief financial officer now directly owns 33,921 shares of the company’s stock, valued at approximately $209,292.57. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 31.10% of the company’s stock.

Institutional Trading of Wave Life Sciences

Large investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. lifted its position in shares of Wave Life Sciences by 50.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after buying an additional 2,451 shares during the last quarter. Oxford Asset Management LLP bought a new stake in shares of Wave Life Sciences during the 4th quarter worth $51,000. Tower Research Capital LLC TRC lifted its position in shares of Wave Life Sciences by 461.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,335 shares of the company’s stock worth $57,000 after buying an additional 9,316 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Wave Life Sciences by 351.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,456 shares of the company’s stock worth $58,000 after buying an additional 8,920 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Wave Life Sciences during the 4th quarter worth $64,000. 89.73% of the stock is owned by institutional investors and hedge funds.

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.