Shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) shot up 7.7% on Thursday . The stock traded as high as $13.44 and last traded at $13.32. 456,007 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 1,106,373 shares. The stock had previously closed at $12.37.
Analysts Set New Price Targets
Several equities analysts have recently commented on WVE shares. 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. Leerink Partners boosted their price target on shares of Wave Life Sciences from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Raymond James raised shares of Wave Life Sciences from an "outperform" rating to a "strong-buy" rating and upped their price target for the stock from $13.00 to $22.00 in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price objective on shares of Wave Life Sciences from $13.00 to $17.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Finally, StockNews.com lowered Wave Life Sciences from a "hold" rating to a "sell" rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Wave Life Sciences presently has an average rating of "Moderate Buy" and an average price target of $22.22.
Read Our Latest Research Report on WVE
Wave Life Sciences Stock Performance
The firm has a fifty day moving average price of $14.23 and a 200 day moving average price of $9.40. The stock has a market cap of $2.03 billion, a PE ratio of -11.99 and a beta of -1.21.
Insider Transactions at Wave Life Sciences
In related news, insider Chris Francis sold 208,836 shares of the firm's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $13.67, for a total value of $2,854,788.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul Bolno sold 90,474 shares of the business's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $15.00, for a total value of $1,357,110.00. Following the sale, the chief executive officer now owns 268,585 shares in the company, valued at approximately $4,028,775. The trade was a 25.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 436,544 shares of company stock worth $6,271,569. Insiders own 29.10% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Emerald Advisers LLC purchased a new stake in Wave Life Sciences in the 2nd quarter worth approximately $12,441,000. Maverick Capital Ltd. boosted its holdings 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 worth $82,390,000 after buying an additional 2,378,159 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in Wave Life Sciences during the second quarter valued at $9,086,000. FMR LLC increased its holdings in Wave Life Sciences by 174.5% in the third quarter. FMR LLC now owns 1,540,190 shares of the company's stock valued at $12,630,000 after buying an additional 979,110 shares in the last quarter. Finally, RTW Investments LP purchased a new position in Wave Life Sciences in the third quarter valued at $7,380,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.
Wave Life Sciences Company Profile
(
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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