Shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) were down 2.8% on Wednesday . The company traded as low as $7.52 and last traded at $7.52. Approximately 835,114 shares were traded during trading, a decline of 26% from the average daily volume of 1,135,855 shares. The stock had previously closed at $7.74.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on WVE. StockNews.com upgraded Wave Life Sciences from a "sell" rating to a "hold" rating in a research report on Saturday, March 8th. HC Wainwright reaffirmed a "buy" rating and issued a $22.00 target price on shares of Wave Life Sciences in a research note on Wednesday, March 26th. Finally, Jefferies Financial Group initiated coverage on shares of Wave Life Sciences in a research report on Tuesday, February 25th. They set a "buy" rating and a $26.00 price target for the company. Two investment 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 company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $22.60.
View Our Latest Research Report on WVE
Wave Life Sciences Stock Down 3.8 %
The firm has a market capitalization of $890.22 million, a price-to-earnings ratio of -5.23 and a beta of -0.93. The business's fifty day moving average is $10.30 and its 200 day moving average is $11.78.
Wave Life Sciences (NASDAQ:WVE - Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.34. The firm had revenue of $83.75 million for the quarter, compared to the consensus estimate of $25.60 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. Equities research analysts expect that Wave Life Sciences Ltd. will post -1.14 EPS for the current year.
Insiders Place Their Bets
In other Wave Life Sciences news, CEO Paul Bolno sold 169,025 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $9.57, for a total value of $1,617,569.25. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christian O. Henry sold 10,500 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $9.77, for a total value of $102,585.00. Following the transaction, the director now directly owns 16,115 shares in the company, valued at $157,443.55. This trade represents a 39.45 % decrease in their position. 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
Institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in shares of Wave Life Sciences by 63.1% in 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 acquiring an additional 1,972,262 shares during the period. Loomis Sayles & Co. L P acquired a new stake in Wave Life Sciences in the 4th quarter valued at about $20,545,000. Polar Capital Holdings Plc acquired a new position in Wave Life Sciences during the fourth quarter worth approximately $12,370,000. FMR LLC raised its stake 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 during the period. Finally, MPM Bioimpact LLC lifted its position in shares of Wave Life Sciences by 138.5% in the fourth quarter. MPM Bioimpact LLC now owns 1,489,237 shares of the company's stock valued at $18,422,000 after buying an additional 864,766 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.
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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