Wave Life Sciences (NASDAQ:WVE) Trading Up 13.1% – What’s Next?

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) were up 13.1% during trading on Tuesday . The company traded as high as $10.44 and last traded at $10.62. Approximately 774,077 shares were traded during trading, a decline of 30% from the average daily volume of 1,100,914 shares. The stock had previously closed at $9.39.

Analysts Set New Price Targets

Several research firms recently commented on WVE. HC Wainwright reiterated a “buy” rating and set a $22.00 target price on shares of Wave Life Sciences in a research note on Wednesday, March 5th. Jefferies Financial Group initiated coverage on shares of Wave Life Sciences in a research note on Tuesday, February 25th. They issued a “buy” rating and a $26.00 target price for the company. Truist Financial boosted their price target on Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Mizuho raised their price objective on Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, StockNews.com upgraded Wave Life Sciences from a “sell” rating to a “hold” rating in a research report on Saturday. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.60.

Wave Life Sciences Price Performance

The business has a 50 day moving average of $11.38 and a 200 day moving average of $11.31. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -9.37 and a beta of -1.04.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Tuesday, March 4th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.34. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. The business had revenue of $83.75 million for the quarter, compared to analysts’ expectations of $25.60 million. As a group, equities analysts predict that Wave Life Sciences Ltd. will post -1.14 EPS for the current year.

Insider Buying and Selling at Wave Life Sciences

In other Wave Life Sciences news, CEO Paul Bolno sold 169,025 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the completion of the transaction, the chief executive officer now owns 338,351 shares of the company’s stock, valued at $3,238,019.07. This represents a 33.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WVE. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Wave Life Sciences in the fourth quarter valued at $4,482,000. Polar Asset Management Partners Inc. grew its position in shares of Wave Life Sciences by 14.7% in the 4th quarter. Polar Asset Management Partners Inc. now owns 557,323 shares of the company’s stock valued at $6,894,000 after acquiring an additional 71,300 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of Wave Life Sciences in the 4th quarter valued at about $40,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Wave Life Sciences by 14.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,238 shares of the company’s stock worth $2,044,000 after purchasing an additional 20,520 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in shares of Wave Life Sciences in the 4th quarter valued at about $10,463,000. Institutional investors and hedge funds 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.