Wave Life Sciences (NASDAQ:WVE) Trading Up 4.2%

Wave Life Sciences Ltd. (NASDAQ:WVE) shares were up 4.2% during trading on Friday . The stock traded as high as $5.00 and last traded at $5.00. Approximately 28,265 shares changed hands during trading, a decline of 97% from the average daily volume of 855,461 shares. The stock had previously closed at $4.80.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on WVE shares. HC Wainwright raised 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. StockNews.com lowered Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 18th. Truist Financial restated a “buy” rating and set a $17.00 price target on shares of Wave Life Sciences in a research report on Monday, April 1st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $5.00 price objective on shares of Wave Life Sciences in a research note on Thursday, March 7th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.14.

Wave Life Sciences Trading Up 0.8 %

The stock has a fifty day simple moving average of $5.42 and a two-hundred day simple moving average of $5.23. The company has a market cap of $591.84 million, a PE ratio of -8.84 and a beta of -1.12.

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

Insider Transactions at Wave Life Sciences

In other news, CFO Kyle Moran sold 15,630 shares of the business’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 transaction of $96,437.10. Following the sale, the chief financial officer now owns 33,921 shares of the company’s stock, valued at approximately $209,292.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 31.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Wave Life Sciences by 11.0% in the 4th quarter. Vanguard Group Inc. now owns 1,312,425 shares of the company’s stock valued at $6,628,000 after acquiring an additional 129,823 shares during the last quarter. Wellington Management Group LLP raised its holdings in Wave Life Sciences by 3.5% in the 4th quarter. Wellington Management Group LLP now owns 274,093 shares of the company’s stock valued at $1,384,000 after acquiring an additional 9,208 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Wave Life Sciences by 14.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 391,132 shares of the company’s stock valued at $1,975,000 after acquiring an additional 49,338 shares during the last quarter. Virtu Financial LLC acquired a new position in Wave Life Sciences in the 4th quarter valued at $174,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Wave Life Sciences by 28.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,627,363 shares of the company’s stock valued at $8,219,000 after acquiring an additional 358,201 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

About Wave Life Sciences

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.