Wave Life Sciences (NASDAQ:WVE) Stock Price Crosses Below Fifty Day Moving Average of $5.72

Wave Life Sciences Ltd. (NASDAQ:WVE)’s share price passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $5.72 and traded as low as $5.63. Wave Life Sciences shares last traded at $5.74, with a volume of 377,974 shares.

Analyst Ratings Changes

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

Wave Life Sciences Stock Performance

The firm has a market cap of $716.01 million, a P/E ratio of -11.04 and a beta of -1.12. The company’s 50 day moving average is $5.72 and its 200 day moving average is $5.68.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The firm had revenue of $19.69 million during the quarter, compared to the consensus estimate of $24.80 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. During the same quarter in the previous year, the company posted ($0.20) earnings per share. On average, equities research analysts anticipate that Wave Life Sciences Ltd. will post -1.05 EPS for the current year.

Insider Transactions at Wave Life Sciences

In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total transaction of $279,555.48. Following the sale, the chief executive officer now directly owns 359,059 shares of the company’s stock, valued at approximately $2,075,361.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 29.10% of the company’s stock.

Institutional Trading of Wave Life Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. boosted 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 during the last quarter. Oxford Asset Management LLP acquired a new position in Wave Life Sciences in the fourth quarter valued at $51,000. Profund Advisors LLC bought a new stake in Wave Life Sciences during the second quarter valued at $53,000. Principal Financial Group Inc. acquired a new stake in Wave Life Sciences during the 2nd quarter worth about $74,000. Finally, Mackenzie Financial Corp raised its position in shares of Wave Life Sciences by 13.6% in the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after acquiring an additional 1,905 shares in the last quarter. Institutional investors and hedge funds 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.