WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) shares crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $6.57 and traded as low as $6.50. WAVE Life Sciences shares last traded at $6.90, with a volume of 876,371 shares trading hands.
Analyst Ratings Changes
WVE has been the subject of a number of analyst reports. Raymond James Financial began coverage on WAVE Life Sciences in a report on Wednesday, June 11th. They issued an "outperform" rating and a $14.00 price target for the company. Wedbush began coverage on WAVE Life Sciences in a research note on Tuesday, April 8th. They set an "outperform" rating and a $18.00 target price for the company. Cantor Fitzgerald began coverage on shares of WAVE Life Sciences in a research note on Tuesday, April 29th. They set an "overweight" rating and a $10.00 price objective on the stock. HC Wainwright reiterated a "buy" rating and set a $22.00 price objective on shares of WAVE Life Sciences in a research note on Wednesday, March 26th. Finally, Jefferies Financial Group assumed coverage on shares of WAVE Life Sciences in a research note on Tuesday, February 25th. They set a "buy" rating and a $26.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.50.
Get Our Latest Analysis on WVE
WAVE Life Sciences Trading Down 4.8%
The stock's 50-day moving average price is $6.62 and its 200-day moving average price is $9.47. The company has a market capitalization of $1.01 billion, a P/E ratio of -7.82 and a beta of -1.04.
WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.02). The business had revenue of $9.18 million for the quarter, compared to analysts' expectations of $11.65 million. During the same quarter in the prior year, the company earned ($0.24) earnings per share. Sell-side analysts expect that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.
Insider Buying and Selling
In other WAVE Life Sciences news, Director Gregory L. Verdine sold 30,000 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $6.95, for a total value of $208,500.00. Following the sale, the director now directly owns 282,517 shares in the company, valued at approximately $1,963,493.15. This trade represents a 9.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 29.10% of the company's stock.
Institutional Trading of WAVE Life Sciences
Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers raised its holdings in shares of WAVE Life Sciences by 6.3% during the first quarter. Rhumbline Advisers now owns 132,700 shares of the company's stock valued at $1,072,000 after buying an additional 7,860 shares during the last quarter. Strs Ohio bought a new stake in WAVE Life Sciences during the 1st quarter valued at $406,000. Ascent Group LLC bought a new stake in WAVE Life Sciences during the 1st quarter valued at $83,000. Goldman Sachs Group Inc. raised its stake in shares of WAVE Life Sciences by 3.8% during the first quarter. Goldman Sachs Group Inc. now owns 557,644 shares of the company's stock valued at $4,506,000 after purchasing an additional 20,624 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of WAVE Life Sciences by 9.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,349 shares of the company's stock valued at $463,000 after purchasing an additional 4,957 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors.
About WAVE Life Sciences
(
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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