WAVE Life Sciences Ltd. (NASDAQ:WVE – Get Free Report)’s share price shot up 8.1% on Tuesday. The company traded as high as $3.42 and last traded at $3.4280. Approximately 360,497 shares changed hands during trading, a decline of 90% from the average session volume of 3,724,721 shares. The stock had previously closed at $3.17.
Analysts Set New Price Targets
A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. initiated coverage on WAVE Life Sciences in a research report on Wednesday, September 23rd. They issued a “neutral” rating on the stock. HC Wainwright restated a “buy” rating on shares of WAVE Life Sciences in a report on Friday, October 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WAVE Life Sciences in a research note on Thursday. B. Riley Financial decreased their price objective on WAVE Life Sciences from $31.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Finally, Zacks Research downgraded WAVE Life Sciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, WAVE Life Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $21.53.
View Our Latest Stock Report on WVE
WAVE Life Sciences Trading Up 6.5%
The firm has a 50 day moving average price of $4.38 and a 200-day moving average price of $5.69. The firm has a market capitalization of $665.65 million, a P/E ratio of -3.10 and a beta of -1.43.
WAVE Life Sciences (NASDAQ:WVE – Get Free Report) last released its earnings results on Thursday, July 30th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.04). WAVE Life Sciences had a negative return on equity of 50.36% and a negative net margin of 309.73%. The firm had revenue of $2.27 million during the quarter, compared to the consensus estimate of $7.45 million. Research analysts anticipate that WAVE Life Sciences Ltd. will post -1.12 earnings per share for the current year.
Insider Activity
In other WAVE Life Sciences news, Director Heidi Wagner sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $6.01, for a total transaction of $42,070.00. Following the completion of the transaction, the director owned 44,930 shares in the company, valued at $270,029.30. The trade was a 13.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Adrian Rawcliffe sold 12,700 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $5.29, for a total value of $67,183.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 23,564 shares of company stock valued at $132,476. 24.34% of the stock is owned by insiders.
Institutional Trading of WAVE Life Sciences
Several institutional investors and hedge funds have recently made changes to their positions in the business. AlphaCentric Advisors LLC increased its holdings in shares of WAVE Life Sciences by 5.7% during the 1st quarter. AlphaCentric Advisors LLC now owns 29,175 shares of the company’s stock valued at $212,000 after purchasing an additional 1,585 shares in the last quarter. First Trust Advisors LP increased its holdings in WAVE Life Sciences by 15.7% in the first quarter. First Trust Advisors LP now owns 13,518 shares of the company’s stock valued at $98,000 after buying an additional 1,830 shares in the last quarter. Arizona State Retirement System raised its position in shares of WAVE Life Sciences by 17.1% in the second quarter. Arizona State Retirement System now owns 35,826 shares of the company’s stock worth $208,000 after acquiring an additional 5,228 shares during the period. Quantinno Capital Management LP raised its position in shares of WAVE Life Sciences by 23.0% in the first quarter. Quantinno Capital Management LP now owns 47,885 shares of the company’s stock worth $347,000 after acquiring an additional 8,960 shares during the period. Finally, James J. Burns & Company LLC boosted its stake in shares of WAVE Life Sciences by 8.5% during the 1st quarter. James J. Burns & Company LLC now owns 114,800 shares of the company’s stock worth $832,000 after acquiring an additional 8,998 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors.
WAVE Life Sciences Company Profile
WAVE Life Sciences Ltd. is a clinical-stage biotechnology company developing RNA medicines for genetic and other serious diseases. The company uses its proprietary oligonucleotide and RNA-editing technologies to target disease-causing genetic instructions, with the goal of selectively correcting, reducing, or modifying RNA activity.
Its development programs have included investigational therapies for conditions such as alpha-1 antitrypsin deficiency, Duchenne muscular dystrophy, and Huntington’s disease.
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