Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) shares passed below its fifty day moving average during trading on Tuesday . The stock has a fifty 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 Analysts Forecast Growth
A number of analysts recently commented on WVE shares. StockNews.com lowered Wave Life Sciences from a "hold" rating to a "sell" rating in a research report on Wednesday, November 13th. Mizuho boosted their price target on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock an "outperform" rating in a research note on Thursday, November 21st. HC Wainwright reaffirmed a "buy" rating and issued a $22.00 price objective on shares of Wave Life Sciences in a research note on Wednesday, November 13th. B. Riley upped their target price on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Finally, Truist Financial raised their price target on Wave Life Sciences from $17.00 to $36.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Wave Life Sciences presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.22.
Get Our Latest Research Report on Wave Life Sciences
Wave Life Sciences Stock Down 1.8 %
The company has a fifty day simple moving average of $12.09 and a two-hundred day simple moving average of $10.84. The stock has a market capitalization of $1.70 billion, a P/E ratio of -10.03 and a beta of -1.09.
Insider Activity at Wave Life Sciences
In related news, CEO Paul Bolno sold 50,000 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $15.00, for a total value of $750,000.00. Following the sale, the chief executive officer now directly owns 217,351 shares of the company's stock, valued at approximately $3,260,265. The trade was a 18.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 29.10% of the stock is owned by insiders.
Institutional Trading of Wave Life Sciences
Several hedge funds and other institutional investors have recently modified their holdings of WVE. GF Fund Management CO. LTD. bought a new stake in shares of Wave Life Sciences in the fourth quarter worth $40,000. Mirae Asset Global Investments Co. Ltd. grew 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 acquiring an additional 856 shares in the last quarter. Quarry LP acquired a new stake in shares of Wave Life Sciences in the fourth quarter valued at about $62,000. KBC Group NV bought a new stake in Wave Life Sciences during the fourth quarter worth about $67,000. Finally, Summit Investment Advisors Inc. boosted its position in Wave Life Sciences by 31.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company's stock valued at $119,000 after purchasing an additional 2,308 shares during the last quarter. Institutional investors and hedge funds own 89.73% of the company's stock.
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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