Wave Life Sciences Ltd. (NASDAQ:WVE) Short Interest Update

Wave Life Sciences Ltd. (NASDAQ:WVE) saw a large decline in short interest in July. As of July 15th, there was short interest totalling 3,880,000 shares, a decline of 19.2% from the June 30th total of 4,800,000 shares. Based on an average daily volume of 869,400 shares, the days-to-cover ratio is presently 4.5 days.

Analyst Upgrades and Downgrades

WVE has been the subject of a number of analyst reports. HC Wainwright reissued a “buy” rating and set a $15.00 target price on shares of Wave Life Sciences in a research note on Wednesday, June 26th. Truist Financial restated a “buy” rating and set a $17.00 target price on shares of Wave Life Sciences in a research report on Monday, April 1st. Mizuho reiterated an “outperform” rating and issued a $19.00 price target on shares of Wave Life Sciences in a report on Tuesday, June 25th. Wells Fargo & Company assumed coverage on shares of Wave Life Sciences in a report on Wednesday, May 15th. They set an “overweight” rating and a $11.00 price objective on the stock. Finally, StockNews.com cut shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $13.17.

Institutional Trading of Wave Life Sciences

A number of large investors have recently made changes to their positions in WVE. Ameritas Investment Partners Inc. raised its stake in Wave Life Sciences by 50.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after purchasing an additional 2,451 shares during the last quarter. Oxford Asset Management LLP purchased a new position in shares of Wave Life Sciences during the fourth quarter valued at approximately $51,000. Tower Research Capital LLC TRC boosted its position in Wave Life Sciences by 461.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,335 shares of the company’s stock worth $57,000 after acquiring an additional 9,316 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake 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. Finally, Public Employees Retirement System of Ohio acquired a new position in Wave Life Sciences in the 4th quarter valued at $64,000. Institutional investors and hedge funds own 89.73% of the company’s stock.

Wave Life Sciences Trading Down 0.3 %

NASDAQ:WVE opened at $6.51 on Tuesday. Wave Life Sciences has a twelve month low of $3.50 and a twelve month high of $7.67. The company has a market capitalization of $797.28 million, a P/E ratio of -12.52 and a beta of -1.12. The firm has a 50-day moving average price of $5.83 and a two-hundred day moving average price of $5.44.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the prior year, the company earned ($0.27) EPS. On average, equities research analysts predict that Wave Life Sciences will post -0.85 earnings per share for the current year.

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.