Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) shares dropped 6.1% during mid-day trading on Wednesday . The stock traded as low as $10.85 and last traded at $10.54. Approximately 303,913 shares were traded during trading, a decline of 66% from the average daily volume of 886,507 shares. The stock had previously closed at $11.23.
Wall Street Analyst Weigh In
WVE has been the subject of a number of analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $22.00 price target on shares of Wave Life Sciences in a research note on Wednesday, March 5th. StockNews.com raised shares of Wave Life Sciences from a "sell" rating to a "hold" rating in a report on Saturday. Jefferies Financial Group initiated coverage on shares of Wave Life Sciences in a report on Tuesday, February 25th. They set a "buy" rating and a $26.00 price target for the company. Mizuho lifted their price objective on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company an "outperform" rating in a research note on Thursday, November 21st. Finally, Truist Financial lifted their price target on Wave Life Sciences from $17.00 to $36.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Wave Life Sciences has a consensus rating of "Moderate Buy" and a consensus price target of $22.60.
Check Out Our Latest Report on Wave Life Sciences
Wave Life Sciences Stock Performance
The business has a fifty day simple moving average of $11.38 and a 200-day simple moving average of $11.31. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -8.79 and a beta of -1.04.
Wave Life Sciences (NASDAQ:WVE - Get Free Report) last issued its quarterly earnings data on Tuesday, March 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating 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 business had revenue of $83.75 million during the quarter, compared to analyst estimates of $25.60 million. On average, equities analysts anticipate that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current year.
Insider Transactions at Wave Life Sciences
In other news, CEO Paul Bolno sold 169,025 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $9.57, for a total value of $1,617,569.25. Following the sale, the chief executive officer now directly owns 338,351 shares of the company's stock, valued at approximately $3,238,019.07. This 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. 29.10% of the stock is owned by company insiders.
Hedge Funds Weigh In On Wave Life Sciences
Several hedge funds and other institutional investors have recently bought and sold shares of the company. GF Fund Management CO. LTD. acquired a new position in shares of Wave Life Sciences in the 4th quarter valued at about $40,000. Quarry LP bought a new stake in Wave Life Sciences in the fourth quarter worth approximately $62,000. KBC Group NV acquired a new position in Wave Life Sciences in the fourth quarter valued at approximately $67,000. Point72 DIFC Ltd bought a new position in shares of Wave Life Sciences during the 3rd quarter worth approximately $98,000. Finally, Summit Investment Advisors Inc. grew its position in shares of Wave Life Sciences by 31.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company's stock worth $119,000 after buying an additional 2,308 shares during the period. Institutional investors and hedge funds own 89.73% of the company's stock.
Wave Life Sciences Company Profile
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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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