WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $7.71, but opened at $8.17. WAVE Life Sciences shares last traded at $8.01, with a volume of 207,977 shares traded.
Analysts Set New Price Targets
A number of analysts have recently weighed in on WVE shares. Raymond James Financial started coverage on shares of WAVE Life Sciences in a research note on Wednesday, June 11th. They issued an "outperform" rating and a $14.00 price target for the company. Wall Street Zen lowered shares of WAVE Life Sciences from a "hold" rating to a "sell" rating in a research note on Friday, May 9th. Citigroup started coverage on shares of WAVE Life Sciences in a research note on Wednesday. They issued a "buy" rating and a $16.00 price target for the company. Cantor Fitzgerald started coverage on shares of WAVE Life Sciences in a research note on Tuesday, April 29th. They issued an "overweight" rating and a $10.00 price target for the company. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $22.00 price target on shares of WAVE Life Sciences in a research note on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, WAVE Life Sciences currently has an average rating of "Moderate Buy" and an average target price of $20.15.
View Our Latest Analysis on WVE
WAVE Life Sciences Price Performance
The stock's fifty day moving average price is $6.79 and its 200-day moving average price is $8.63. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -9.88 and a beta of -1.01.
WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last released its quarterly 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 firm had revenue of $9.18 million for the quarter, compared to analyst estimates of $11.65 million. During the same quarter in the prior year, the company earned ($0.24) EPS. As a group, equities research analysts predict that WAVE Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.
Insider Activity
In related news, Director Gregory L. Verdine sold 30,000 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $6.95, for a total transaction of $208,500.00. Following the transaction, the director directly owned 282,517 shares of the company's stock, valued at approximately $1,963,493.15. The trade was a 9.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 23.98% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. grew its position in WAVE Life Sciences by 30.1% in the first quarter. Adage Capital Partners GP L.L.C. now owns 12,516,500 shares of the company's stock worth $101,133,000 after acquiring an additional 2,894,396 shares in the last quarter. Driehaus Capital Management LLC grew its position in WAVE Life Sciences by 14.6% in the fourth quarter. Driehaus Capital Management LLC now owns 6,712,449 shares of the company's stock worth $83,033,000 after acquiring an additional 853,589 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in WAVE Life Sciences by 63.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,098,866 shares of the company's stock worth $63,074,000 after acquiring an additional 1,972,262 shares in the last quarter. 683 Capital Management LLC grew its position in WAVE Life Sciences by 3.7% in the first quarter. 683 Capital Management LLC now owns 3,925,000 shares of the company's stock worth $31,714,000 after acquiring an additional 140,000 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in WAVE Life Sciences by 0.8% in the first quarter. Vanguard Group Inc. now owns 3,206,403 shares of the company's stock worth $25,908,000 after acquiring an additional 23,891 shares in the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.
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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