Wave Life Sciences (NASDAQ:WVE) Trading Down 3.4%

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) were down 3.4% during trading on Monday . The company traded as low as $5.98 and last traded at $6.05. Approximately 187,481 shares changed hands during trading, a decline of 77% from the average daily volume of 811,540 shares. The stock had previously closed at $6.26.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WVE. Royal Bank of Canada reaffirmed 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. HC Wainwright increased their price objective 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. StockNews.com lowered Wave Life Sciences from a "buy" rating to a "hold" rating in a research report on Friday, May 10th. Truist Financial reiterated a "buy" rating and issued a $17.00 target price on shares of Wave Life Sciences in a report on Monday, April 1st. Finally, Wells Fargo & Company started coverage on shares of Wave Life Sciences in a research report on Wednesday, May 15th. They set an "overweight" rating and a $11.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $10.25.

Wave Life Sciences Price Performance

The stock has a market capitalization of $781.29 million, a price-to-earnings ratio of -12.27 and a beta of -0.99. The stock's 50 day simple moving average is $5.75 and its 200-day simple moving average is $5.21.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The company had revenue of $12.54 million for the quarter, compared to analyst estimates of $25.67 million. During the same period in the previous year, the firm posted ($0.27) earnings per share. As a group, equities research analysts anticipate that Wave Life Sciences Ltd. will post -0.85 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Kyle Moran sold 15,630 shares of the company's stock in a transaction on Wednesday, April 3rd. The shares were 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 of the company's stock, valued at approximately $209,292.57. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 31.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wave Life Sciences

Several large investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. grew its position in Wave Life Sciences by 50.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company's stock worth $45,000 after purchasing an additional 2,451 shares during the last quarter. James J. Burns & Company LLC increased its stake in Wave Life Sciences by 10.2% during the third quarter. James J. Burns & Company LLC now owns 33,049 shares of the company's stock valued at $190,000 after acquiring an additional 3,049 shares during the period. Swiss National Bank raised its holdings in Wave Life Sciences by 2.7% in the 1st quarter. Swiss National Bank now owns 156,500 shares of the company's stock valued at $966,000 after acquiring an additional 4,100 shares in the last quarter. Capstone Investment Advisors LLC raised its holdings in Wave Life Sciences by 9.0% in the 1st quarter. Capstone Investment Advisors LLC now owns 54,500 shares of the company's stock valued at $336,000 after acquiring an additional 4,500 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Wave Life Sciences by 35.0% in the 1st quarter. ProShare Advisors LLC now owns 21,764 shares of the company's stock worth $134,000 after acquiring an additional 5,648 shares during the period. Institutional investors and hedge funds own 89.73% of the company's stock.

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.