Wave Life Sciences (NASDAQ:WVE) Share Price Passes Below 50-Day Moving Average – Should You Sell?

Wave Life Sciences Ltd. (NASDAQ:WVE) shares passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $12.30 and traded as low as $10.75. Wave Life Sciences shares last traded at $11.03, with a volume of 635,314 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WVE shares. Truist Financial upped their price target on shares of Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price objective on shares of Wave Life Sciences in a research note on Wednesday, November 13th. B. Riley upped their price target on Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Mizuho lifted their price objective on Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, StockNews.com lowered shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wave Life Sciences presently has a consensus rating of “Moderate Buy” and an average target price of $22.22.

Wave Life Sciences Stock Up 2.0 %

The business’s 50 day moving average is $12.30 and its 200-day moving average is $10.80.

Insider Activity at Wave Life Sciences

In related news, CEO Paul Bolno sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $15.00, for a total value of $750,000.00. Following the completion of the transaction, the chief executive officer now directly owns 217,351 shares of the company’s stock, valued at $3,260,265. This represents a 18.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 29.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Wave Life Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WVE. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Wave Life Sciences by 23.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock valued at $37,000 after purchasing an additional 856 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Wave Life Sciences in the fourth quarter valued at approximately $40,000. Quarry LP purchased a new position in shares of Wave Life Sciences during the fourth quarter worth approximately $62,000. KBC Group NV acquired a new position in shares of Wave Life Sciences in the 4th quarter valued at $67,000. Finally, Point72 DIFC Ltd purchased a new stake in Wave Life Sciences in the 3rd quarter valued at $98,000. 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.