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

WAVE Life Sciences logo with Medical background

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

Wall Street Analyst Weigh In

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

Check Out Our Latest Research Report on WAVE Life Sciences

WAVE Life Sciences Stock Down 3.1%

The firm has a fifty day moving average of $6.71 and a 200-day moving average of $8.74. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -9.17 and a beta of -1.01.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last issued its quarterly earnings data 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 analysts' expectations of $11.65 million. During the same period in the previous year, the company posted ($0.24) earnings per share. As a group, research analysts forecast that WAVE Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gregory L. Verdine sold 30,000 shares of WAVE Life Sciences stock in a transaction 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 owned 282,517 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 23.98% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WVE. Bank of New York Mellon Corp boosted its holdings in WAVE Life Sciences by 21.4% in the fourth quarter. Bank of New York Mellon Corp now owns 244,973 shares of the company's stock valued at $3,030,000 after acquiring an additional 43,143 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in WAVE Life Sciences by 8.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 914,469 shares of the company's stock valued at $11,312,000 after acquiring an additional 69,852 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in WAVE Life Sciences by 16.6% in the fourth quarter. Victory Capital Management Inc. now owns 14,546 shares of the company's stock valued at $180,000 after acquiring an additional 2,073 shares during the last quarter. Arizona State Retirement System boosted its holdings in WAVE Life Sciences by 34.2% in the fourth quarter. Arizona State Retirement System now owns 30,769 shares of the company's stock valued at $381,000 after acquiring an additional 7,846 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in WAVE Life Sciences in the fourth quarter valued at $157,000. Institutional investors and hedge funds own 89.73% of the company's stock.

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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