Wave Life Sciences (NASDAQ:WVE) Trading Down 4.9%

Wave Life Sciences Ltd. (NASDAQ:WVE) traded down 4.9% during trading on Tuesday . The company traded as low as $5.45 and last traded at $5.46. 194,685 shares were traded during mid-day trading, a decline of 78% from the average session volume of 869,616 shares. The stock had previously closed at $5.74.

Analyst Ratings Changes

A number of research analysts have commented on the company. StockNews.com downgraded Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 18th. Leerink Partnrs raised Wave Life Sciences from a “market perform” rating to an “outperform” rating in a research report on Tuesday, December 19th. HC Wainwright boosted their price target on Wave Life Sciences from $8.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Truist Financial reaffirmed a “buy” rating and issued a $17.00 price target on shares of Wave Life Sciences in a research report on Monday, April 1st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $5.00 price target on shares of Wave Life Sciences in a research report on Thursday, March 7th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $10.14.

Wave Life Sciences Trading Down 8.4 %

The firm has a market cap of $643.19 million, a price-to-earnings ratio of -9.56 and a beta of -1.13. The firm has a 50-day moving average of $5.36 and a two-hundred day moving average of $5.24.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Wednesday, March 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.04. The firm had revenue of $29.06 million for the quarter, compared to the consensus estimate of $23.30 million. During the same quarter in the prior year, the firm earned ($0.47) earnings per share. As a group, equities analysts anticipate that Wave Life Sciences Ltd. will post -0.94 EPS for the current year.

Insider Activity

In other news, CFO Kyle Moran sold 15,630 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $6.17, for a total value of $96,437.10. Following the sale, the chief financial officer now directly owns 33,921 shares in the company, valued at approximately $209,292.57. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 31.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

Large investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its holdings in Wave Life Sciences by 257.9% during the 2nd quarter. Royal Bank of Canada now owns 8,787 shares of the company’s stock worth $32,000 after buying an additional 6,332 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Wave Life Sciences by 256.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 9,217 shares of the company’s stock worth $34,000 after buying an additional 6,630 shares in the last quarter. Prudential Financial Inc. acquired a new position in Wave Life Sciences during the 2nd quarter worth $41,000. Mirabella Financial Services LLP acquired a new position in Wave Life Sciences during the 1st quarter worth $44,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Wave Life Sciences during the 1st quarter worth $48,000. 89.73% of the stock is currently owned by institutional investors.

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.