Wave Life Sciences (NASDAQ:WVE) Trading Down 5.5%

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) were down 5.5% during trading on Thursday . The stock traded as low as $5.41 and last traded at $5.65. Approximately 159,615 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 856,798 shares. The stock had previously closed at $5.98.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WVE. Mizuho reaffirmed an “outperform” rating and issued a $19.00 target price on shares of Wave Life Sciences in a report on Tuesday, June 25th. HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Wave Life Sciences in a report on Wednesday, June 26th. Wells Fargo & Company assumed coverage on Wave Life Sciences in a research note on Wednesday, May 15th. They set an “overweight” rating and a $11.00 price target for the company. Finally, StockNews.com cut shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Wave Life Sciences presently has a consensus rating of “Moderate Buy” and an average target price of $13.17.

Wave Life Sciences Trading Down 5.7 %

The stock has a market capitalization of $662.56 million, a PE ratio of -10.40 and a beta of -1.12. The company’s 50 day simple moving average is $5.82 and its 200 day simple moving average is $5.50.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The firm had revenue of $12.54 million for the quarter, compared to the consensus estimate of $25.67 million. During the same period in the prior year, the company posted ($0.27) earnings per share. As a group, analysts predict that Wave Life Sciences Ltd. will post -0.85 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. grew its stake in Wave Life Sciences by 50.2% during the first 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 period. Oxford Asset Management LLP purchased a new stake in Wave Life Sciences during the 4th quarter worth $51,000. Tower Research Capital LLC TRC increased its holdings in 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. Public Employees Retirement System of Ohio purchased a new position in Wave Life Sciences in the fourth quarter valued at about $64,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Wave Life Sciences during the second quarter worth about $74,000. 89.73% of the stock is owned by hedge funds and other institutional investors.

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.