Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $9.44, but opened at $10.73. Wave Life Sciences shares last traded at $9.90, with a volume of 1,111,359 shares traded.
Wall Street Analyst Weigh In
A number of brokerages have commented on WVE. HC Wainwright restated a "buy" rating and set a $22.00 price target on shares of Wave Life Sciences in a research note on Wednesday. StockNews.com upgraded shares of Wave Life Sciences from a "sell" rating to a "hold" rating in a research note on Saturday, March 8th. Finally, Jefferies Financial Group initiated coverage on shares of Wave Life Sciences in a research note on Tuesday, February 25th. They set a "buy" rating and a $26.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $22.60.
View Our Latest Report on Wave Life Sciences
Wave Life Sciences Trading Down 4.3 %
The company has a market cap of $1.32 billion, a P/E ratio of -7.77 and a beta of -1.04. The business's 50 day simple moving average is $10.73 and its 200 day simple moving average is $11.68.
Wave Life Sciences (NASDAQ:WVE - Get Free Report) last issued its earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.34. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. The firm had revenue of $83.75 million during the quarter, compared to analyst estimates of $25.60 million. Sell-side analysts anticipate that Wave Life Sciences Ltd. will post -1.14 EPS for the current year.
Insider Transactions at Wave Life Sciences
In other Wave Life Sciences news, CEO Paul Bolno sold 169,025 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the transaction, the chief executive officer now directly owns 338,351 shares in the company, valued at $3,238,019.07. This trade represents a 33.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Christian O. Henry sold 10,500 shares of the company's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $9.77, for a total transaction of $102,585.00. Following the completion of the sale, the director now directly owns 16,115 shares of the company's stock, valued at approximately $157,443.55. This trade represents a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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 added to or reduced their stakes in the stock. Maverick Capital Ltd. lifted its position in Wave Life Sciences by 31.0% during the third quarter. Maverick Capital Ltd. now owns 10,047,520 shares of the company's stock valued at $82,390,000 after acquiring an additional 2,378,159 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Wave Life Sciences by 63.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,098,866 shares of the company's stock valued at $63,074,000 after buying an additional 1,972,262 shares in the last quarter. Loomis Sayles & Co. L P purchased a new stake in Wave Life Sciences in the fourth quarter valued at about $20,545,000. Polar Capital Holdings Plc acquired a new stake in Wave Life Sciences in the fourth quarter worth about $12,370,000. Finally, FMR LLC grew its stake in shares of Wave Life Sciences by 174.5% during the third quarter. FMR LLC now owns 1,540,190 shares of the company's stock worth $12,630,000 after acquiring an additional 979,110 shares during the last quarter. Hedge funds and other institutional investors own 89.73% of the company's stock.
About Wave Life Sciences
(
Get Free Report)
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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