Wave Life Sciences (NASDAQ:WVE) Trading 10.2% Higher

Wave Life Sciences Ltd. (NASDAQ:WVE)’s stock price traded up 10.2% during trading on Thursday . The stock traded as high as $6.14 and last traded at $6.14. 548,644 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 866,554 shares. The stock had previously closed at $5.57.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wells Fargo & Company assumed coverage on Wave Life Sciences in a report on Wednesday, May 15th. They issued an “overweight” rating and a $11.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective on shares of Wave Life Sciences in a report on Wednesday, June 26th. Truist Financial reaffirmed a “buy” rating and set a $17.00 price objective on shares of Wave Life Sciences in a report on Monday, April 1st. Mizuho reaffirmed an “outperform” rating and set a $19.00 price objective on shares of Wave Life Sciences in a report on Tuesday, June 25th. Finally, StockNews.com lowered Wave Life Sciences from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Wave Life Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.17.

Wave Life Sciences Stock Up 6.5 %

The stock has a fifty day moving average of $5.79 and a 200-day moving average of $5.35. The stock has a market cap of $726.25 million, a PE ratio of -11.56 and a beta of -1.12.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The company had revenue of $12.54 million during the quarter, compared to analysts’ expectations of $25.67 million. During the same quarter in the prior year, the company posted ($0.27) earnings per share. Equities research analysts forecast that Wave Life Sciences Ltd. will post -0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Wave Life Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in WVE. Swiss National Bank purchased a new stake in Wave Life Sciences in the 4th quarter valued at approximately $770,000. Virtu Financial LLC purchased a new stake in Wave Life Sciences in the 4th quarter valued at approximately $174,000. 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 valued at $58,000 after purchasing an additional 8,920 shares in the last quarter. Capstone Investment Advisors LLC boosted its holdings in Wave Life Sciences by 9.0% in the 1st quarter. Capstone Investment Advisors LLC now owns 54,500 shares of the company’s stock valued at $336,000 after purchasing an additional 4,500 shares in the last quarter. Finally, Birchview Capital LP purchased a new stake in Wave Life Sciences in the 4th quarter valued at approximately $202,000. 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.