Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) rose 4.2% during mid-day trading on Friday . The stock traded as high as $5.00 and last traded at $5.00. Approximately 28,265 shares were traded during trading, a decline of 97% from the average daily volume of 855,461 shares. The stock had previously closed at $4.80.
Analysts Set New Price Targets
WVE has been the topic of several research analyst reports. 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 note on Thursday, March 7th. Truist Financial reissued a "buy" rating and set a $17.00 price target on shares of Wave Life Sciences in a research note on Monday, April 1st. Royal Bank of Canada reissued a "sector perform" rating and set a $5.00 price target on shares of Wave Life Sciences in a research note on Thursday, March 7th. Finally, StockNews.com lowered Wave Life Sciences from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 18th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $10.14.
Get Our Latest Stock Analysis on Wave Life Sciences
Wave Life Sciences Price Performance
The firm has a 50-day simple moving average of $5.42 and a 200 day simple moving average of $5.23. The company has a market capitalization of $595.50 million, a PE ratio of -8.80 and a beta of -1.12.
Wave Life Sciences (NASDAQ:WVE - Get Free Report) last released its quarterly earnings data on Wednesday, March 6th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.04. The company had revenue of $29.06 million during the quarter, compared to analysts' expectations of $23.30 million. During the same period last year, the business earned ($0.47) earnings per share. Equities research analysts expect that Wave Life Sciences Ltd. will post -0.94 EPS for the current fiscal year.
Insider Activity
In other news, CFO Kyle Moran sold 15,630 shares of the firm's stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $6.17, for a total transaction of $96,437.10. Following the completion of the sale, the chief financial officer now directly owns 33,921 shares in the company, valued at $209,292.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 31.10% of the company's stock.
Hedge Funds Weigh In On Wave Life Sciences
A number of hedge funds have recently bought and sold shares of WVE. China Universal Asset Management Co. Ltd. raised its holdings in shares of Wave Life Sciences by 351.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,456 shares of the company's stock valued at $58,000 after buying an additional 8,920 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Wave Life Sciences by 33.6% during the fourth quarter. SG Americas Securities LLC now owns 34,562 shares of the company's stock valued at $175,000 after buying an additional 8,694 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Wave Life Sciences by 4.3% during the third quarter. Wellington Management Group LLP now owns 264,885 shares of the company's stock valued at $1,523,000 after buying an additional 10,830 shares during the last quarter. Newtyn Management LLC raised its holdings in shares of Wave Life Sciences by 2.0% during the third quarter. Newtyn Management LLC now owns 510,000 shares of the company's stock valued at $2,932,000 after buying an additional 10,000 shares during the last quarter. Finally, Kraematon Investment Advisors Inc. bought a new stake in shares of Wave Life Sciences during the fourth quarter valued at approximately $237,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.
Wave Life Sciences Company Profile
(
Get Free Report)
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.
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