Wave Life Sciences (NASDAQ:WVE) Trading Up 7.5%

Wave Life Sciences Ltd. (NASDAQ:WVE) shares traded up 7.5% during trading on Thursday . The stock traded as high as $5.89 and last traded at $5.88. 73,059 shares traded hands during trading, a decline of 91% from the average session volume of 802,285 shares. The stock had previously closed at $5.47.

Wall Street Analysts Forecast Growth

WVE has been the topic of several recent research reports. Mizuho reiterated an “outperform” rating and issued a $19.00 price target on shares of Wave Life Sciences in a research note on Tuesday, June 25th. JPMorgan Chase & Co. initiated coverage on Wave Life Sciences in a research report on Monday, September 9th. They issued an “overweight” rating and a $10.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $15.00 price target on shares of Wave Life Sciences in a research report on Wednesday, June 26th. Finally, B. Riley initiated coverage on Wave Life Sciences in a research report on Thursday. They set a “buy” rating and a $11.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Wave Life Sciences presently has a consensus rating of “Moderate Buy” and an average target price of $12.50.

Wave Life Sciences Price Performance

The stock’s 50-day moving average price is $5.84 and its 200-day moving average price is $5.79. The company has a market cap of $744.70 million, a P/E ratio of -11.15 and a beta of -1.13.

Wave Life Sciences (NASDAQ:WVE) last announced its 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 for the quarter, compared to analyst estimates of $24.80 million. During the same quarter in the previous year, the company earned ($0.20) EPS. As a group, analysts expect that Wave Life Sciences Ltd. will post -1.04 EPS for the current fiscal year.

Insider Transactions at Wave Life Sciences

In related news, CEO Paul Bolno sold 48,366 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total transaction of $279,555.48. Following the sale, the chief executive officer now owns 359,059 shares in the company, valued at approximately $2,075,361.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 29.10% of the stock is currently owned by insiders.

Institutional Trading of Wave Life Sciences

Hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank bought a new position in Wave Life Sciences in the 4th quarter valued at approximately $770,000. Teacher Retirement System of Texas bought a new position in shares of Wave Life Sciences during the fourth quarter valued at $86,000. Trexquant Investment LP acquired a new position in shares of Wave Life Sciences during the fourth quarter worth $162,000. Oxford Asset Management LLP acquired a new position in shares of Wave Life Sciences during the fourth quarter worth $51,000. Finally, TD Asset Management Inc grew its stake in shares of Wave Life Sciences by 26.5% in the fourth quarter. TD Asset Management Inc now owns 205,746 shares of the company’s stock worth $1,039,000 after purchasing an additional 43,054 shares during the last quarter. Institutional investors and hedge funds 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.