Wave Life Sciences (NASDAQ:WVE) Stock Price Up 4.5% - Still a Buy?

Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) rose 4.5% during trading on Tuesday . The company traded as high as $7.22 and last traded at $7.14. Approximately 357,397 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 1,211,227 shares. The stock had previously closed at $6.83.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. HC Wainwright restated a "buy" rating and set a $22.00 target price on shares of Wave Life Sciences in a research report on Wednesday, March 26th. 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 target price on the stock. Wedbush assumed coverage on Wave Life Sciences in a report on Tuesday, April 8th. They issued an "outperform" rating and a $18.00 price target for the company. Cantor Fitzgerald began coverage on 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. Finally, StockNews.com upgraded Wave Life Sciences from a "sell" rating to a "hold" rating in a research report on Saturday, March 8th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $21.17.

Wave Life Sciences Price Performance

The company's 50-day moving average is $8.16 and its 200-day moving average is $11.44. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -7.30 and a beta of -0.91.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last announced its quarterly earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of ($0.17) by $0.34. The company had revenue of $83.75 million for the quarter, compared to analyst estimates of $25.60 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. Sell-side analysts anticipate that Wave Life Sciences Ltd. will post -1.14 earnings per share 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 stock was sold at an average price of $9.77, for a total value of $102,585.00. Following the completion of the sale, the director now owns 16,115 shares in the company, valued at approximately $157,443.55. This trade represents a 39.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paul Bolno sold 169,025 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $9.57, for a total value of $1,617,569.25. Following the sale, the chief executive officer now owns 338,351 shares in the company, valued at approximately $3,238,019.07. The trade was a 33.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 29.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WVE. Victory Capital Management Inc. boosted its stake in shares of Wave Life Sciences by 16.6% during the 4th quarter. Victory Capital Management Inc. now owns 14,546 shares of the company's stock valued at $180,000 after buying an additional 2,073 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Wave Life Sciences by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 247,251 shares of the company's stock valued at $1,998,000 after purchasing an additional 2,278 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of Wave Life Sciences by 31.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company's stock valued at $119,000 after buying an additional 2,308 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of Wave Life Sciences during the fourth quarter valued at approximately $40,000. Finally, Kraematon Investment Advisors Inc. lifted its holdings in shares of Wave Life Sciences by 24.3% in the 4th quarter. Kraematon Investment Advisors Inc. now owns 19,885 shares of the company's stock worth $246,000 after purchasing an additional 3,885 shares during the last quarter. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

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.