Wave Life Sciences (NASDAQ:WVE) Shares Up 4.2%

Wave Life Sciences Ltd. (NASDAQ:WVE) shot up 4.2% during trading on Friday . The stock traded as high as $5.00 and last traded at $5.00. 28,265 shares traded hands during trading, a decline of 97% from the average session volume of 855,461 shares. The stock had previously closed at $4.80.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WVE. Royal Bank of Canada reissued a “sector perform” rating and issued a $5.00 price target on shares of Wave Life Sciences in a report on Thursday, March 7th. Truist Financial reissued a “buy” rating and issued a $17.00 price target on shares of Wave Life Sciences in a report on Monday, April 1st. HC Wainwright increased 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. Finally, StockNews.com downgraded shares of Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 18th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.14.

Wave Life Sciences Stock Up 1.5 %

The stock has a market cap of $595.50 million, a P/E ratio of -8.85 and a beta of -1.12. The firm’s fifty day moving average price is $5.43 and its 200-day moving average price is $5.22.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Wednesday, March 6th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.04. The business had revenue of $29.06 million during the quarter, compared to analysts’ expectations of $23.30 million. During the same period in the previous year, the business earned ($0.47) EPS. Sell-side analysts predict that Wave Life Sciences Ltd. will post -0.94 earnings per share for the current year.

Insider Transactions at Wave Life Sciences

In other news, CFO Kyle Moran sold 15,630 shares of Wave Life Sciences stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $6.17, for a total value of $96,437.10. Following the completion of the transaction, the chief financial officer now owns 33,921 shares of the company’s stock, valued at approximately $209,292.57. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 31.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Wave Life Sciences

Several large investors have recently bought and sold shares of WVE. M28 Capital Management LP grew its stake in shares of Wave Life Sciences by 4.7% during the 4th quarter. M28 Capital Management LP now owns 7,373,413 shares of the company’s stock valued at $37,236,000 after purchasing an additional 328,913 shares during the period. BlackRock Inc. grew its stake in shares of Wave Life Sciences by 227.8% during the 2nd quarter. BlackRock Inc. now owns 4,624,655 shares of the company’s stock valued at $16,834,000 after purchasing an additional 3,213,732 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Wave Life Sciences during the 4th quarter valued at about $16,228,000. Price T Rowe Associates Inc. MD grew its stake in shares of Wave Life Sciences by 28.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,627,363 shares of the company’s stock valued at $8,219,000 after purchasing an additional 358,201 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Wave Life Sciences by 91.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,329,675 shares of the company’s stock valued at $4,840,000 after purchasing an additional 636,873 shares during the period. 89.73% of the stock is currently owned by institutional investors.

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.