WAVE Life Sciences (NASDAQ:WVE) Trading Up 7.8% - Still a Buy?

Key Points

• WAVE Life Sciences shares rose by 7.8% recently, trading at $9.61 after closing at $8.91, though the trading volume decreased by 25% from its average.
• Analysts' ratings for WAVE Life Sciences are generally positive, with a consensus rating of "Moderate Buy" and an average price target of $20.27.
• Recent earnings reports showed WAVE Life Sciences missed consensus estimates, posting a quarterly earnings per share of ($0.31) against an expected ($0.29).

WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report)'s share price was up 7.8% during trading on Friday . The company traded as high as $9.39 and last traded at $9.61. Approximately 978,807 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 1,312,062 shares. The stock had previously closed at $8.91.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WVE. Raymond James Financial began coverage on WAVE Life Sciences in a report on Wednesday, June 11th. They set an "outperform" rating and a $14.00 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 target price on the stock. Citigroup began coverage on WAVE Life Sciences in a research note on Wednesday, July 16th. They set a "buy" rating and a $16.00 target price on the stock. Wells Fargo & Company cut their price target on WAVE Life Sciences from $24.00 to $21.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Finally, Wall Street Zen downgraded WAVE Life Sciences from a "hold" rating to a "sell" rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $20.27.

WAVE Life Sciences Stock Performance

The business has a 50 day simple moving average of $7.62 and a 200-day simple moving average of $8.13. The stock has a market capitalization of $1.54 billion, a P/E ratio of -10.68 and a beta of -0.95.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.02). The company had revenue of $8.70 million for the quarter, compared to analyst estimates of $11.52 million. Equities research analysts forecast that WAVE Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Insider Transactions at WAVE Life Sciences

In related news, Director Christian O. Henry sold 9,670 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $8.81, for a total value of $85,192.70. Following the completion of the transaction, the director owned 29,645 shares of the company's stock, valued at $261,172.45. This represents a 24.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory L. Verdine sold 30,000 shares of the company'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 completion of the transaction, the director owned 282,517 shares of the company's stock, valued at approximately $1,963,493.15. This trade represents a 9.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,542 shares of company stock valued at $336,323. Company insiders own 23.98% of the company's stock.

Institutional Trading of WAVE Life Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GF Fund Management CO. LTD. purchased a new position in WAVE Life Sciences in the 4th quarter worth approximately $40,000. Quarry LP purchased a new position in shares of WAVE Life Sciences during the fourth quarter valued at approximately $62,000. Summit Investment Advisors Inc. raised its holdings in shares of WAVE Life Sciences by 31.5% during the fourth 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 last quarter. Knott David M Jr purchased a new position in shares of WAVE Life Sciences in the first quarter worth approximately $81,000. Finally, Ascent Group LLC purchased a new position in shares of WAVE Life Sciences in the first quarter worth approximately $83,000. 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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