Wave Life Sciences (NASDAQ:WVE) Shares Gap Up to $4.84

Wave Life Sciences Ltd. (NASDAQ:WVE) gapped up prior to trading on Tuesday . The stock had previously closed at $4.84, but opened at $5.13. Wave Life Sciences shares last traded at $5.09, with a volume of 39,453 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on WVE shares. Truist Financial reissued a “buy” rating and issued a $17.00 price objective on shares of Wave Life Sciences in a report on Monday, April 1st. StockNews.com downgraded shares of Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 18th. Royal Bank of Canada restated 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. Finally, HC Wainwright lifted their target price on Wave Life Sciences from $8.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $10.14.

Wave Life Sciences Stock Performance

The stock’s 50 day moving average price is $5.45 and its two-hundred day moving average price is $5.21.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Wednesday, March 6th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.04. The firm had revenue of $29.06 million during the quarter, compared to analysts’ expectations of $23.30 million. During the same quarter in the prior year, the business earned ($0.47) EPS. Research analysts predict that Wave Life Sciences Ltd. will post -0.94 earnings per share for the current year.

Insider Activity at Wave Life Sciences

In related news, CFO Kyle Moran sold 15,630 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $6.17, for a total value of $96,437.10. Following the completion of the transaction, the chief financial officer now directly owns 33,921 shares in the company, valued at $209,292.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 31.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

A number of institutional investors have recently added to or reduced their stakes in WVE. Oxford Asset Management LLP acquired a new stake in Wave Life Sciences during the 4th quarter worth approximately $51,000. Tower Research Capital LLC TRC lifted its holdings in shares of Wave Life Sciences by 461.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,335 shares of the company’s stock valued at $57,000 after acquiring an additional 9,316 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Wave Life Sciences by 351.7% in 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 period. Public Employees Retirement System of Ohio acquired a new stake in Wave Life Sciences in the fourth quarter valued at approximately $64,000. Finally, Teacher Retirement System of Texas acquired a new stake in Wave Life Sciences during the 4th quarter valued at $86,000. Hedge funds and other 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.