Wave Life Sciences (NASDAQ:WVE) Trading Down 6.2%

Wave Life Sciences Ltd. (NASDAQ:WVE)’s stock price was down 6.2% during mid-day trading on Monday . The stock traded as low as $5.75 and last traded at $5.76. Approximately 539,734 shares were traded during trading, a decline of 35% from the average daily volume of 831,470 shares. The stock had previously closed at $6.14.

Analyst Upgrades and Downgrades

WVE has been the subject of a number of analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $5.00 price target on shares of Wave Life Sciences in a research report on Thursday, March 7th. HC Wainwright boosted their target price on Wave Life Sciences from $8.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. StockNews.com downgraded Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 18th. Finally, Truist Financial reaffirmed a “buy” rating and set a $17.00 target price on shares of Wave Life Sciences in a research report on Monday, April 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Wave Life Sciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.14.

Wave Life Sciences Stock Down 6.4 %

The stock has a 50 day moving average of $5.68 and a 200-day moving average of $5.18.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Wednesday, March 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.04. The business had revenue of $29.06 million during the quarter, compared to the consensus estimate of $23.30 million. During the same period last year, the firm earned ($0.47) EPS. On average, equities analysts anticipate that Wave Life Sciences Ltd. will post -0.94 earnings per share for the current fiscal year.

Insider Transactions at Wave Life Sciences

In other Wave Life Sciences news, CFO Kyle Moran sold 15,630 shares of Wave Life Sciences stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $6.17, for a total transaction of $96,437.10. Following the completion of the transaction, the chief financial officer now owns 33,921 shares of the company’s stock, valued at approximately $209,292.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 31.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. James J. Burns & Company LLC increased its position in shares of Wave Life Sciences by 10.2% in the third quarter. James J. Burns & Company LLC now owns 33,049 shares of the company’s stock worth $190,000 after purchasing an additional 3,049 shares during the last quarter. Capstone Investment Advisors LLC increased its holdings in shares of Wave Life Sciences by 9.0% in the 1st quarter. Capstone Investment Advisors LLC now owns 54,500 shares of the company’s stock worth $336,000 after buying an additional 4,500 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Wave Life Sciences by 33.6% during the 4th quarter. SG Americas Securities LLC now owns 34,562 shares of the company’s stock valued at $175,000 after buying an additional 8,694 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Wave Life Sciences by 351.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,456 shares of the company’s stock worth $58,000 after acquiring an additional 8,920 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Wave Life Sciences by 3.5% in the fourth quarter. Wellington Management Group LLP now owns 274,093 shares of the company’s stock worth $1,384,000 after acquiring an additional 9,208 shares in the last quarter. 89.73% of the stock is owned by institutional investors.

About Wave Life Sciences

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.