Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 6,820,000 shares, a growth of 39.5% from the October 15th total of 4,890,000 shares. Based on an average daily volume of 1,690,000 shares, the short-interest ratio is currently 4.0 days.
Insider Activity
In related news, major shareholder Plc Gsk acquired 2,791,930 shares of the stock in a transaction dated Friday, September 27th. The stock was bought at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the transaction, the insider now directly owns 16,775,691 shares of the company's stock, valued at approximately $134,205,528. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Plc Gsk bought 2,791,930 shares of the company's stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the transaction, the insider now owns 16,775,691 shares in the company, valued at $134,205,528. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kyle Moran sold 17,146 shares of the company's stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total value of $154,314.00. Following the transaction, the chief financial officer now directly owns 19,777 shares of the company's stock, valued at approximately $177,993. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 400,822 shares of company stock worth $5,221,768 in the last 90 days. Corporate insiders own 29.10% of the company's stock.
Hedge Funds Weigh In On Wave Life Sciences
Several institutional investors and hedge funds have recently made changes to their positions in WVE. Artal Group S.A. increased its holdings in Wave Life Sciences by 34.7% in the 1st quarter. Artal Group S.A. now owns 4,051,400 shares of the company's stock valued at $24,997,000 after buying an additional 1,044,000 shares during the period. Emerald Advisers LLC raised its position in shares of Wave Life Sciences by 15.6% during the third quarter. Emerald Advisers LLC now owns 2,881,510 shares of the company's stock worth $23,628,000 after acquiring an additional 388,280 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in Wave Life Sciences by 16.6% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 2,123,466 shares of the company's stock valued at $17,412,000 after acquiring an additional 302,528 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Wave Life Sciences by 14.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,861,254 shares of the company's stock worth $11,485,000 after purchasing an additional 233,891 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Wave Life Sciences by 39.7% during the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company's stock valued at $11,316,000 after acquiring an additional 521,665 shares during the period. Institutional investors and hedge funds own 89.73% of the company's stock.
Wave Life Sciences Price Performance
NASDAQ WVE traded down $0.41 during trading on Thursday, reaching $15.28. 395,120 shares of the company's stock were exchanged, compared to its average volume of 1,110,795. The business has a 50 day moving average price of $10.40 and a 200-day moving average price of $7.41. Wave Life Sciences has a fifty-two week low of $3.50 and a fifty-two week high of $16.74.
Wave Life Sciences (NASDAQ:WVE - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.19). The business had revenue of ($7.68) million for the quarter, compared to analyst estimates of $15.45 million. Wave Life Sciences had a negative return on equity of 694.73% and a negative net margin of 66.50%. On average, analysts predict that Wave Life Sciences will post -1.01 EPS for the current year.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Leerink Partners boosted their price target on shares of Wave Life Sciences from $20.00 to $22.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. HC Wainwright reiterated a "buy" rating and set a $22.00 target price on shares of Wave Life Sciences in a report on Wednesday. B. Riley raised their price target on Wave Life Sciences from $19.00 to $22.00 and gave the company a "buy" rating in a research note on Monday, November 4th. StockNews.com cut Wave Life Sciences from a "hold" rating to a "sell" rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised their target price on shares of Wave Life Sciences from $13.00 to $17.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $21.89.
Check Out Our Latest Stock Report on Wave Life Sciences
About Wave Life Sciences
(
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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.
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