Wave Life Sciences (NASDAQ:WVE) Share Price Falls 3.7%

Wave Life Sciences Ltd. (NASDAQ:WVE – Get Free Report ) stock price traded down 3.7% during mid-day trading on Wednesday. The stock traded as high as $5.47 and last traded at $5.50. About 71,766 shares traded hands during mid-day trading, down 91% from the average daily volume of 804,244 shares. Shares previously closed at $5.71.

Analysts on Wall Street are forecasting an increase

Several brokerages recently weighed in on WVE. HC Wainwright restated a “buy” rating and issued a $15.00 target price on shares of Wave Life Sciences in a research note on Wednesday, June 26th. JPMorgan Chase & Co. began coverage on shares of Wave Life Sciences in a research note on Monday, September 9th. They issued an “overweight” rating and a $10.00 price target for the company. Finally, Mizuho restated an “outperform” rating and issued a $19.00 target price on shares of Wave Life Sciences in a research note on Tuesday, June 25th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Moderate Buy” and an average target price of $12.71, based on data from MarketBeat.com.

Get our latest WVE analysis

Wave Life Sciences Price Performance

The stock’s 50-day moving average price is $5.84 and its 200-day moving average price is $5.80.

Wave Life Sciences (NASDAQ:WVE – Get Free Report ) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. The business had revenue of $19.69 million during the quarter, compared to the consensus estimate of $24.80 million. In the same quarter last year, the company posted earnings per share of ($0.20). On average, research analysts anticipate that Wave Life Sciences Ltd. will post -1.04 earnings per share for the current year.

Insider buying and selling

In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total transaction of $279,555.48. Following the transaction, the chief executive officer now owns 359,059 shares of the company’s stock, valued at approximately $2,075,361.02. The transaction was disclosed in a filing with the SEC, which can be accessed via this link. Corporate insiders own 29.10% of the company’s shares.

Hedge funds influence Wave Life Sciences

Several large investors have recently bought and sold shares of the stock. Swiss National Bank acquired a new position in shares of Wave Life Sciences in the fourth quarter valued at about $770,000. Teacher Retirement System of Texas acquired a new position in shares of Wave Life Sciences in the fourth quarter valued at about $86,000. Trexquant Investment LP acquired a new position in shares of Wave Life Sciences in the fourth quarter valued at approximately $162,000. Oxford Asset Management LLP purchased a new stake in shares of Wave Life Sciences during the fourth quarter valued at approximately $51,000. Finally, TD Asset Management Inc boosted its holdings in shares of Wave Life Sciences by 26.5% during the fourth quarter. TD Asset Management Inc now owns 205,746 shares of the company’s stock worth $1,039,000 after buying an additional 43,054 shares during the period. Institutional investors and hedge funds own 89.73% of the company’s shares.

About Wave Life Sciences

(Get a free report)

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops and commercializes ribonucleic acid (RNA) drugs through PRISM, a drug discovery and development platform. The company’s RNA drug platform, PRISM, combines multiple modalities, chemistry innovations and deep insights into human genetics to deliver scientific discoveries that treat both rare and prevalent disorders.

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