Stock Traders Buy Large Volume of Call Options on Wave Life Sciences (NASDAQ:WVE)

Wave Life Sciences Ltd. (NASDAQ:WVE) saw unusually large options trading activity on Wednesday. Stock traders bought 3,140 call options on the company. This represents an increase of 2,372% compared to the average daily volume of 127 call options.

Shares of NASDAQ:WVE traded down $0.02 during trading on Wednesday, hitting $5.47. 25,854 shares of the stock traded hands, compared to its average volume of 669,527. The company has a market cap of $277.69 million, a price-to-earnings ratio of -1.97 and a beta of 0.43. The company has a fifty day moving average price of $6.13 and a two-hundred day moving average price of $6.83. Wave Life Sciences has a 52-week low of $4.82 and a 52-week high of $19.98.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Thursday, August 5th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.17). The company had revenue of $2.78 million during the quarter, compared to analysts’ expectations of $11.90 million. Wave Life Sciences had a negative return on equity of 215.47% and a negative net margin of 746.67%. As a group, equities research analysts anticipate that Wave Life Sciences will post -2.81 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC purchased a new stake in shares of Wave Life Sciences during the second quarter worth $103,000. Invesco Ltd. acquired a new position in shares of Wave Life Sciences during the 2nd quarter valued at about $84,000. Price T Rowe Associates Inc. MD boosted its position in shares of Wave Life Sciences by 15.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 35,082 shares of the company’s stock valued at $234,000 after acquiring an additional 4,794 shares during the last quarter. 683 Capital Management LLC acquired a new position in shares of Wave Life Sciences during the 2nd quarter valued at about $3,330,000. Finally, Balyasny Asset Management LLC acquired a new position in shares of Wave Life Sciences during the 2nd quarter valued at about $2,598,000. 72.97% of the stock is owned by institutional investors and hedge funds.

WVE has been the subject of several research reports. Zacks Investment Research cut shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a research note on Thursday, August 12th. Mizuho lifted their price objective on shares of Wave Life Sciences from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, May 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $12.00.

Wave Life Sciences Company Profile

Wave Life Sciences Ltd. is a biotechnology company, which engages in the development of proprietary synthetic chemistry drug. It focuses on the design, development, and commercialization of nucleic acid-based therapeutics. The company was founded by Gregory L. Verdine and Takeshi Wada on July 23, 2012 and is headquartered in Singapore.

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