Wave Life Sciences (NASDAQ:WVE) Shares Down 5.5%

Wave Life Sciences Ltd. (NASDAQ:WVE)’s stock price fell 5.5% on Thursday . The company traded as low as $5.41 and last traded at $5.65. 159,615 shares traded hands during trading, a decline of 81% from the average session volume of 856,798 shares. The stock had previously closed at $5.98.

Wall Street Analyst Weigh In

Several analysts have commented on WVE shares. Wells Fargo & Company initiated coverage on Wave Life Sciences in a research note on Wednesday, May 15th. They set an “overweight” rating and a $11.00 target price on the stock. Mizuho reaffirmed an “outperform” rating and set a $19.00 price objective on shares of Wave Life Sciences in a research report on Tuesday, June 25th. HC Wainwright restated a “buy” rating and set a $15.00 target price on shares of Wave Life Sciences in a research note on Wednesday, June 26th. Finally, StockNews.com lowered shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $13.17.

Wave Life Sciences Stock Down 4.0 %

The business has a 50 day moving average price of $5.82 and a two-hundred day moving average price of $5.50. The stock has a market cap of $702.98 million, a P/E ratio of -11.04 and a beta of -1.12.

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

Institutional Investors Weigh In On Wave Life Sciences

A number of hedge funds have recently bought and sold shares of WVE. Ameritas Investment Partners Inc. boosted its holdings in shares of Wave Life Sciences by 50.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after purchasing an additional 2,451 shares during the period. Rhumbline Advisers boosted its stake in shares of Wave Life Sciences by 3.4% during the 2nd quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock worth $628,000 after purchasing an additional 4,092 shares during the period. Swiss National Bank grew its holdings in Wave Life Sciences by 2.7% during the 1st quarter. Swiss National Bank now owns 156,500 shares of the company’s stock valued at $966,000 after purchasing an additional 4,100 shares during the last quarter. Capstone Investment Advisors LLC lifted its stake in Wave Life Sciences by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 54,500 shares of the company’s stock worth $336,000 after purchasing an additional 4,500 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of Wave Life Sciences by 35.0% during the 1st quarter. ProShare Advisors LLC now owns 21,764 shares of the company’s stock worth $134,000 after acquiring an additional 5,648 shares during the last quarter. 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.