Wave Life Sciences (NASDAQ:WVE) Shares Down 4.6% – Here’s Why

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) were down 4.6% during mid-day trading on Monday . The company traded as low as $7.05 and last traded at $6.89. Approximately 50,134 shares were traded during trading, a decline of 96% from the average daily volume of 1,310,484 shares. The stock had previously closed at $7.22.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Wave Life Sciences in a research report on Tuesday, February 25th. They set a “buy” rating and a $26.00 price target for the company. Wall Street Zen lowered Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Friday, May 9th. Cantor Fitzgerald initiated coverage on shares of Wave Life Sciences in a research report on Tuesday, April 29th. They issued an “overweight” rating and a $10.00 price objective on the stock. Wedbush assumed coverage on shares of Wave Life Sciences in a report on Tuesday, April 8th. They set an “outperform” rating and a $18.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.17.

Wave Life Sciences Stock Performance

The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -6.31 and a beta of -1.04. The company’s fifty day moving average is $6.44 and its two-hundred day moving average is $9.98.

Wave Life Sciences (NASDAQ:WVE) 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 firm had revenue of $9.18 million during the quarter, compared to analyst estimates of $11.65 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. During the same period last year, the business earned ($0.24) EPS. As a group, analysts forecast that Wave Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Wave Life Sciences news, 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 sale, the director now owns 16,115 shares in the company, valued at $157,443.55. This represents a 39.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 29.10% of the stock is owned by company insiders.

Institutional Trading of Wave Life Sciences

Several institutional investors have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. bought a new position in Wave Life Sciences in the fourth quarter worth about $40,000. Quarry LP bought a new stake in Wave Life Sciences in the fourth quarter valued at $62,000. KBC Group NV bought a new stake in Wave Life Sciences in the fourth quarter valued at $67,000. Knott David M Jr acquired a new position in shares of Wave Life Sciences during the first quarter valued at $81,000. Finally, Ascent Group LLC bought a new position in shares of Wave Life Sciences during the first quarter worth about $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.