Wave Life Sciences (NASDAQ:WVE) Trading Up 4.5% - What's Next?

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

Analyst Ratings Changes

WVE has been the topic of a number of analyst reports. Cantor Fitzgerald assumed coverage on Wave Life Sciences in a report on Tuesday. They set an "overweight" rating and a $10.00 price objective on the stock. Wedbush initiated coverage on Wave Life Sciences in a report on Tuesday, April 8th. They set an "outperform" rating and a $18.00 price target on the stock. Jefferies Financial Group began coverage on shares of Wave Life Sciences in a report on Tuesday, February 25th. They set a "buy" rating and a $26.00 price objective for the company. HC Wainwright reissued a "buy" rating and set a $22.00 target price on shares of Wave Life Sciences in a research report on Wednesday, March 26th. Finally, StockNews.com upgraded Wave Life Sciences from a "sell" rating to a "hold" rating in a research note 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 issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $21.17.

Wave Life Sciences Stock Up 8.4 %

The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -6.63 and a beta of -0.93. The business has a fifty day simple moving average of $8.40 and a two-hundred day simple moving average of $11.53.

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 firm had revenue of $83.75 million for the quarter, compared to analysts' expectations of $25.60 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. As a group, equities analysts predict that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Wave Life Sciences

In other Wave Life Sciences news, 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 completion of the sale, the chief executive officer now owns 338,351 shares in the company, valued at approximately $3,238,019.07. This trade represents a 33.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Christian O. Henry sold 10,500 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $9.77, for a total transaction of $102,585.00. Following the transaction, the director now owns 16,115 shares in the company, valued at $157,443.55. The trade was a 39.45 % 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 have recently bought and sold shares of WVE. GF Fund Management CO. LTD. bought a new stake in shares of Wave Life Sciences during the fourth quarter worth $40,000. Quarry LP bought a new stake in Wave Life Sciences during the 4th quarter worth about $62,000. KBC Group NV bought a new stake in Wave Life Sciences during the 4th quarter worth about $67,000. Summit Investment Advisors Inc. lifted its position in Wave Life Sciences by 31.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company's stock valued at $119,000 after purchasing an additional 2,308 shares during the period. Finally, Westwood Wealth Management bought a new position in shares of Wave Life Sciences in the 4th quarter valued at about $124,000. Institutional investors own 89.73% of the company's stock.

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.

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