WAVE Life Sciences (NASDAQ:WVE) Shares Up 6.8% - Should You Buy?

WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) traded up 6.8% on Wednesday . The company traded as high as $7.51 and last traded at $7.43. 476,622 shares were traded during trading, a decline of 63% from the average session volume of 1,283,024 shares. The stock had previously closed at $6.95.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wall Street Zen downgraded WAVE Life Sciences from a "hold" rating to a "sell" rating in a research report on Friday, May 9th. Cantor Fitzgerald assumed coverage on WAVE Life Sciences in a research report on Tuesday, April 29th. They set an "overweight" rating and a $10.00 price target on the stock. HC Wainwright reissued a "buy" rating and set a $22.00 price target on shares of WAVE Life Sciences in a research report on Wednesday, March 26th. Wedbush reissued an "outperform" rating and set a $18.00 price target on shares of WAVE Life Sciences in a research report on Monday, June 23rd. Finally, Raymond James Financial initiated coverage on WAVE Life Sciences in a report on Wednesday, June 11th. They set an "outperform" rating and a $14.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $20.50.

WAVE Life Sciences Stock Up 1.5%

The firm has a market capitalization of $1.22 billion, a P/E ratio of -9.24 and a beta of -1.01. The firm has a 50 day moving average of $6.71 and a 200-day moving average of $8.85.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The company had revenue of $9.18 million during the quarter, compared to analyst estimates of $11.65 million. During the same period in the prior year, the business posted ($0.24) EPS. As a group, research analysts expect that WAVE Life Sciences Ltd. will post -1.14 EPS for the current 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 stock was sold at an average price of $6.95, for a total value of $208,500.00. Following the completion of the sale, the director directly owned 282,517 shares in the company, 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 filing with the SEC, which is accessible through this link. Company insiders own 23.98% of the company's stock.

Institutional Investors Weigh In On WAVE Life Sciences

Several institutional investors have recently made changes to their positions in WVE. GF Fund Management CO. LTD. bought a new stake in WAVE Life Sciences during the fourth quarter worth $40,000. Quarry LP bought a new stake in WAVE Life Sciences during the fourth quarter worth $62,000. Knott David M Jr bought a new stake in WAVE Life Sciences during the first quarter worth $81,000. Ascent Group LLC bought a new stake in WAVE Life Sciences during the first quarter worth $83,000. Finally, Chicago Partners Investment Group LLC bought a new stake in WAVE Life Sciences during the first quarter worth $103,000. 89.73% of the stock is currently owned by 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.