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.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on WVE shares. HC Wainwright raised their price target on shares of Wave Life Sciences from $8.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. StockNews.com lowered shares of Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 18th. Truist Financial reiterated a “buy” rating and issued a $17.00 price objective on shares of Wave Life Sciences in a research note on Monday, April 1st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $5.00 price objective on shares of Wave Life Sciences in a research note on Thursday, March 7th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.14.

Wave Life Sciences Trading Down 1.4 %

The company’s 50-day moving average is $5.51 and its 200 day moving average is $5.20.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Wednesday, March 6th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.04. The firm had revenue of $29.06 million for the quarter, compared to analyst estimates of $23.30 million. During the same quarter in the prior year, the business posted ($0.47) EPS. Equities analysts expect that Wave Life Sciences Ltd. will post -0.94 EPS for the current year.

Insider Activity

In other news, CFO Kyle Moran sold 15,630 shares of Wave Life Sciences stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $6.17, for a total value of $96,437.10. Following the sale, the chief financial officer now owns 33,921 shares in the company, valued at $209,292.57. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 31.10% of the company’s stock.

Institutional Trading of Wave Life Sciences

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in shares of Wave Life Sciences in the third quarter worth about $149,000. TD Asset Management Inc purchased a new position in shares of Wave Life Sciences in the third quarter worth about $935,000. Jump Financial LLC purchased a new position in shares of Wave Life Sciences in the third quarter worth about $135,000. James J. Burns & Company LLC lifted its stake 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 buying an additional 3,049 shares in the last quarter. Finally, Newtyn Management LLC lifted its stake in shares of Wave Life Sciences by 2.0% in the third quarter. Newtyn Management LLC now owns 510,000 shares of the company’s stock worth $2,932,000 after buying an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

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.