Wave Life Sciences (NASDAQ:WVE) Trading Down 5.3% – Time to Sell?

Wave Life Sciences Ltd. (NASDAQ:WVE) was down 5.3% during trading on Tuesday . The company traded as low as $9.53 and last traded at $9.54. Approximately 283,715 shares changed hands during trading, a decline of 74% from the average daily volume of 1,090,348 shares. The stock had previously closed at $10.07.

Analyst Ratings Changes

WVE has been the subject of several research reports. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a research report on Wednesday, March 5th. StockNews.com upgraded Wave Life Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Jefferies Financial Group started coverage on Wave Life Sciences in a research note on Tuesday, February 25th. They issued a “buy” rating and a $26.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.60.

Wave Life Sciences Price Performance

The stock’s fifty day moving average is $10.89 and its 200-day moving average is $11.63. The stock has a market capitalization of $1.45 billion, a PE ratio of -8.50 and a beta of -1.04.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings data on Tuesday, March 4th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.34. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. The firm had revenue of $83.75 million during the quarter, compared to the consensus estimate of $25.60 million. On average, analysts forecast that Wave Life Sciences Ltd. will post -1.14 EPS for the current year.

Insider Activity

In other news, CEO Paul Bolno sold 169,025 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the completion of the transaction, the chief executive officer now directly owns 338,351 shares in the company, valued at approximately $3,238,019.07. This represents a 33.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christian O. Henry sold 10,500 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $9.77, for a total value of $102,585.00. Following the sale, the director now directly owns 16,115 shares of the company’s stock, valued at $157,443.55. The trade was a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Wave Life Sciences

Several institutional investors have recently bought and sold shares of the company. GF Fund Management CO. LTD. acquired a new stake in shares of Wave Life Sciences during the fourth quarter worth about $40,000. Quarry LP acquired a new stake in Wave Life Sciences during the 4th quarter worth approximately $62,000. KBC Group NV purchased a new position in Wave Life Sciences in the 4th quarter valued at approximately $67,000. Point72 DIFC Ltd acquired a new position in shares of Wave Life Sciences in the third quarter worth $98,000. Finally, Summit Investment Advisors Inc. grew its stake in shares of Wave Life Sciences by 31.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company’s stock worth $119,000 after acquiring an additional 2,308 shares in the last quarter. 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.