Wave Life Sciences (NASDAQ:WVE) Shares Gap Up to $5.13

Wave Life Sciences Ltd. (NASDAQ:WVE) shares gapped up prior to trading on Monday . The stock had previously closed at $5.13, but opened at $5.44. Wave Life Sciences shares last traded at $5.49, with a volume of 136,574 shares changing hands.

Wall Street Analysts Forecast Growth

WVE has been the subject of several recent analyst reports. JPMorgan Chase & Co. started coverage on Wave Life Sciences in a research note on Monday. They set an “overweight” rating and a $10.00 target price for the company. HC Wainwright restated a “buy” rating and set a $15.00 price objective on shares of Wave Life Sciences in a research report on Wednesday, June 26th. Wells Fargo & Company initiated coverage on shares of Wave Life Sciences in a research report on Wednesday, May 15th. They issued an “overweight” rating and a $11.00 target price on the stock. Finally, Mizuho reissued an “outperform” rating and issued a $19.00 price target on shares of Wave Life Sciences in a research report on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating and seven have assigned 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 target price of $12.71.

Wave Life Sciences Stock Performance

The company has a market capitalization of $743.45 million, a PE ratio of -11.60 and a beta of -1.13. The company’s 50-day simple moving average is $5.78 and its 200-day simple moving average is $5.75.

Wave Life Sciences (NASDAQ:WVE) last announced its earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The business had revenue of $19.69 million for the quarter, compared to analyst estimates of $24.80 million. Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. During the same quarter last year, the company posted ($0.20) EPS. Analysts expect that Wave Life Sciences Ltd. will post -1.05 EPS for the current year.

Insider Buying and Selling at Wave Life Sciences

In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total value of $279,555.48. Following the transaction, the chief executive officer now directly owns 359,059 shares of the company’s stock, valued at approximately $2,075,361.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

Institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank acquired a new stake in Wave Life Sciences in the fourth quarter valued at $770,000. Teacher Retirement System of Texas acquired a new stake in shares of Wave Life Sciences in the fourth quarter valued at about $86,000. Trexquant Investment LP acquired a new position in Wave Life Sciences during the fourth quarter worth about $162,000. Oxford Asset Management LLP acquired a new position in Wave Life Sciences during the fourth quarter worth about $51,000. Finally, TD Asset Management Inc increased its holdings in Wave Life Sciences by 26.5% in the fourth quarter. TD Asset Management Inc now owns 205,746 shares of the company’s stock valued at $1,039,000 after buying an additional 43,054 shares in the last quarter. Hedge funds and other institutional investors 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.