Wave Life Sciences (NASDAQ:WVE) Trading Up 4.2%

Wave Life Sciences Ltd. (NASDAQ:WVE)’s share price was up 4.2% during mid-day trading on Friday . The stock traded as high as $5.00 and last traded at $5.00. Approximately 28,265 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 855,461 shares. The stock had previously closed at $4.80.

Analyst Ratings Changes

A number of analysts have weighed in on WVE shares. StockNews.com downgraded shares of Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 18th. Truist Financial reiterated 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 increased their target price on shares of Wave Life Sciences from $8.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $5.00 price target on shares of Wave Life Sciences in a research note on Thursday, March 7th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.14.

Wave Life Sciences Trading Up 0.8 %

The company has a market capitalization of $591.84 million, a P/E ratio of -8.84 and a beta of -1.12. The business’s fifty day moving average price is $5.42 and its 200-day moving average price is $5.23.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Wednesday, March 6th. The company reported ($0.15) earnings per share 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 period in the prior year, the firm earned ($0.47) earnings per share. As a group, equities research analysts forecast that Wave Life Sciences Ltd. will post -0.94 EPS for the current year.

Insider Activity

In other news, CFO Kyle Moran sold 15,630 shares of the company’s stock in a transaction dated 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 transaction, 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 SEC, which is accessible through this hyperlink. 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 modified their holdings of WVE. BlackRock Inc. increased its position in shares of Wave Life Sciences by 1.5% during the first quarter. BlackRock Inc. now owns 2,937,786 shares of the company’s stock valued at $5,876,000 after buying an additional 43,423 shares during the period. Renaissance Technologies LLC increased its position in shares of Wave Life Sciences by 450.1% during the first quarter. Renaissance Technologies LLC now owns 205,194 shares of the company’s stock valued at $410,000 after buying an additional 167,894 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Wave Life Sciences by 274.8% during the first quarter. Goldman Sachs Group Inc. now owns 421,412 shares of the company’s stock valued at $843,000 after buying an additional 308,966 shares during the period. Mirabella Financial Services LLP purchased a new stake in Wave Life Sciences in the first quarter worth about $44,000. Finally, BNP Paribas Arbitrage SA grew its holdings in Wave Life Sciences by 457.0% in the second quarter. BNP Paribas Arbitrage SA now owns 20,777 shares of the company’s stock worth $68,000 after purchasing an additional 17,047 shares during the period. Hedge funds and other institutional investors 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.