Wave Life Sciences (NASDAQ:WVE) Stock Price Down 4%

Wave Life Sciences Ltd. (NASDAQ:WVE) fell 4% on Friday . The stock traded as low as $4.78 and last traded at $4.79. 148,555 shares changed hands during trading, a decline of 83% from the average session volume of 860,821 shares. The stock had previously closed at $4.99.

Analysts Set New Price Targets

Several brokerages recently weighed in on WVE. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Wave Life Sciences in a report on Wednesday. Mizuho reaffirmed an “outperform” rating and set a $19.00 price target on shares of Wave Life Sciences in a report on Tuesday. StockNews.com downgraded Wave Life Sciences from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $5.00 price target on shares of Wave Life Sciences in a report on Thursday, March 7th. Finally, Wells Fargo & Company assumed coverage on Wave Life Sciences in a report on Wednesday, May 15th. They set an “overweight” rating and a $11.00 price target for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Wave Life Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $12.29.

Wave Life Sciences Price Performance

The firm has a market cap of $611.13 million, a PE ratio of -9.21 and a beta of -1.03. The business has a 50-day moving average price of $5.72 and a two-hundred day moving average price of $5.30.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly 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 firm had revenue of $12.54 million during the quarter, compared to analyst estimates of $25.67 million. During the same period in the prior year, the company posted ($0.27) EPS. Equities analysts expect that Wave Life Sciences Ltd. will post -0.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Wave Life Sciences news, CFO Kyle Moran sold 15,630 shares of Wave Life Sciences stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $6.17, for a total value of $96,437.10. Following the completion of the sale, the chief financial officer now owns 33,921 shares in the company, valued at approximately $209,292.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 31.10% of the stock is currently owned by company insiders.

Institutional Trading of Wave Life Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WVE. Ameritas Investment Partners Inc. lifted its stake in shares of Wave Life Sciences by 50.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after purchasing an additional 2,451 shares in the last quarter. Oxford Asset Management LLP acquired a new position in shares of Wave Life Sciences in the 4th quarter valued at about $51,000. Tower Research Capital LLC TRC lifted its stake in shares of Wave Life Sciences by 461.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,335 shares of the company’s stock valued at $57,000 after purchasing an additional 9,316 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake 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 in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Wave Life Sciences in the 4th quarter valued at about $64,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

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.