Wave Life Sciences (NASDAQ:WVE) Shares Down 5.8% - Should You Sell?

Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report)'s share price traded down 5.8% during mid-day trading on Monday . The stock traded as low as $10.30 and last traded at $10.53. 595,601 shares were traded during trading, a decline of 31% from the average session volume of 860,942 shares. The stock had previously closed at $11.17.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Truist Financial raised their price target on shares of Wave Life Sciences from $17.00 to $36.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Mizuho raised their target price on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock an "outperform" rating in a research report on Thursday, November 21st. StockNews.com cut shares of Wave Life Sciences from a "hold" rating to a "sell" rating in a research report on Wednesday, November 13th. B. Riley raised their target price on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Finally, HC Wainwright reissued a "buy" rating and issued a $22.00 target price on shares of Wave Life Sciences in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.22.

Wave Life Sciences Stock Up 0.9 %

The company's fifty day moving average is $12.55 and its 200 day moving average is $10.68. The stock has a market cap of $1.66 billion, a PE ratio of -9.85 and a beta of -1.09.

Insider Activity

In other news, CEO Paul Bolno sold 50,000 shares of Wave Life Sciences stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $15.00, for a total transaction of $750,000.00. Following the sale, the chief executive officer now owns 217,351 shares in the company, valued at $3,260,265. This trade represents a 18.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 29.10% of the company's stock.

Institutional Trading of Wave Life Sciences

Hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Wave Life Sciences by 209.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 844,617 shares of the company's stock valued at $6,926,000 after purchasing an additional 571,345 shares during the period. FMR LLC grew its position in shares of Wave Life Sciences by 174.5% during the third quarter. FMR LLC now owns 1,540,190 shares of the company's stock worth $12,630,000 after buying an additional 979,110 shares in the last quarter. Maven Securities LTD acquired a new stake in shares of Wave Life Sciences during the third quarter worth approximately $6,970,000. Privium Fund Management B.V. acquired a new stake in shares of Wave Life Sciences during the third quarter worth approximately $400,000. Finally, Moody Aldrich Partners LLC grew its position in shares of Wave Life Sciences by 69.0% during the third quarter. Moody Aldrich Partners LLC now owns 303,062 shares of the company's stock worth $2,485,000 after buying an additional 123,703 shares in the last quarter. Hedge funds and other institutional investors own 89.73% of the company's stock.

Wave Life Sciences Company Profile

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.