Wave Life Sciences (NASDAQ:WVE) Stock Price Down 4.6% - Should You Sell?

Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) shares traded down 4.6% during trading on Monday . The stock traded as low as $7.05 and last traded at $6.89. 50,134 shares changed hands during trading, a decline of 96% from the average session volume of 1,310,484 shares. The stock had previously closed at $7.22.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wedbush assumed coverage on Wave Life Sciences in a report on Tuesday, April 8th. They set an "outperform" rating and a $18.00 price objective for the company. Jefferies Financial Group assumed coverage on Wave Life Sciences in a report on Tuesday, February 25th. They set a "buy" rating and a $26.00 price objective for the company. Raymond James assumed coverage on Wave Life Sciences in a report on Wednesday. They set an "outperform" rating and a $14.00 price objective for the company. HC Wainwright reiterated a "buy" rating and set a $22.00 price objective on shares of Wave Life Sciences in a report on Wednesday, March 26th. Finally, Wall Street Zen downgraded Wave Life Sciences from a "hold" rating to a "sell" rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Wave Life Sciences has an average rating of "Moderate Buy" and an average price target of $20.50.

Wave Life Sciences Trading Up 0.1%

The firm has a 50-day simple moving average of $6.49 and a two-hundred day simple moving average of $9.84. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -6.49 and a beta of -1.04.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The company had revenue of $9.18 million for the quarter, compared to analyst estimates of $11.65 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. During the same period in the prior year, the business posted ($0.24) earnings per share. Equities research analysts anticipate that Wave Life Sciences Ltd. will post -1.14 EPS for the current year.

Insider Transactions at Wave Life Sciences

In other news, Director Christian O. Henry sold 10,500 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $9.77, for a total transaction of $102,585.00. Following the sale, the director now directly owns 16,115 shares of the company's stock, valued at $157,443.55. This represents a 39.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 29.10% of the company's stock.

Institutional Investors Weigh In On Wave Life Sciences

Hedge funds have recently modified their holdings of the company. GF Fund Management CO. LTD. purchased a new stake in shares of Wave Life Sciences during the 4th quarter worth about $40,000. Quarry LP purchased a new stake in shares of Wave Life Sciences during the 4th quarter worth about $62,000. Knott David M Jr purchased a new position in Wave Life Sciences in the 1st quarter valued at about $81,000. Ascent Group LLC purchased a new position in Wave Life Sciences in the 1st quarter valued at about $83,000. Finally, Chicago Partners Investment Group LLC purchased a new position in Wave Life Sciences in the 1st quarter valued at about $103,000. 89.73% of the stock is owned by hedge funds and other institutional investors.

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.