Shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) were down 4% during trading on Monday . The company traded as low as $12.97 and last traded at $12.97. Approximately 164,371 shares changed hands during trading, a decline of 77% from the average daily volume of 716,913 shares. The stock had previously closed at $13.51.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the stock. HC Wainwright reiterated a "buy" rating and set a $22.00 price target on shares of Wave Life Sciences in a research note on Wednesday, November 13th. JPMorgan Chase & Co. lifted their target price on Wave Life Sciences from $13.00 to $17.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. Leerink Partners boosted their price target on Wave Life Sciences from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. StockNews.com downgraded Wave Life Sciences from a "hold" rating to a "sell" rating in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada boosted their price objective on Wave Life Sciences from $7.00 to $15.00 and gave the company a "sector perform" rating in a research note on Monday, October 21st. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.22.
View Our Latest Report on WVE
Wave Life Sciences Price Performance
The firm's 50-day moving average price is $14.17 and its 200-day moving average price is $9.56. The stock has a market cap of $1.99 billion, a P/E ratio of -11.74 and a beta of -1.07.
Insider Transactions at Wave Life Sciences
In other news, insider Chris Francis sold 208,836 shares of the company's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $13.67, for a total transaction of $2,854,788.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Paul Bolno sold 51,234 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $14.32, for a total transaction of $733,670.88. Following the completion of the transaction, the chief executive officer now directly owns 217,351 shares of the company's stock, valued at approximately $3,112,466.32. The trade was a 19.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 436,544 shares of company stock valued at $6,271,569. 29.10% of the stock is currently owned by insiders.
Institutional Trading of Wave Life Sciences
Institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Wave Life Sciences by 23.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company's stock valued at $37,000 after buying an additional 856 shares during the last quarter. Profund Advisors LLC bought a new position in Wave Life Sciences in the 2nd quarter valued at $53,000. Point72 DIFC Ltd purchased a new stake in Wave Life Sciences in the third quarter worth $98,000. Principal Financial Group Inc. bought a new stake in shares of Wave Life Sciences during the second quarter worth $74,000. Finally, Orion Portfolio Solutions LLC purchased a new stake in shares of Wave Life Sciences during the third quarter valued at $123,000. 89.73% of the stock is currently owned by institutional investors.
Wave Life Sciences Company Profile
(
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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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