Wave Life Sciences (NASDAQ:WVE) Shares Down 4% – What’s Next?

Wave Life Sciences Ltd. (NASDAQ:WVE) traded down 4% during mid-day trading on Monday . The company traded as low as $12.97 and last traded at $12.97. 164,371 shares traded hands during trading, a decline of 77% from the average session volume of 716,913 shares. The stock had previously closed at $13.51.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WVE. StockNews.com downgraded shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th. HC Wainwright restated a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a research note on Wednesday, November 13th. Wells Fargo & Company upped their price objective on Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price objective on shares of Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Truist Financial boosted their target price on shares of Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.22.

Wave Life Sciences Stock Down 1.3 %

The stock has a market capitalization of $2.03 billion, a PE ratio of -12.01 and a beta of -1.07. The stock’s 50 day moving average price is $14.21 and its 200-day moving average price is $9.48.

Insiders Place Their Bets

In other Wave Life Sciences news, CEO Paul Bolno sold 50,000 shares of Wave Life Sciences stock in a transaction on Monday, November 25th. The shares were sold at an average price of $15.00, for a total value of $750,000.00. Following the sale, the chief executive officer now directly owns 217,351 shares in the company, valued at approximately $3,260,265. The trade was a 18.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chris Francis sold 208,836 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $13.67, for a total transaction of $2,854,788.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 436,544 shares of company stock worth $6,271,569. Corporate insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Wave Life Sciences

A number of institutional investors have recently modified their holdings of WVE. Maverick Capital Ltd. grew its position in shares of Wave Life Sciences by 31.0% during the 3rd quarter. Maverick Capital Ltd. now owns 10,047,520 shares of the company’s stock worth $82,390,000 after buying an additional 2,378,159 shares in the last quarter. Emerald Advisers LLC increased its position in Wave Life Sciences by 15.6% during the 3rd quarter. Emerald Advisers LLC now owns 2,881,510 shares of the company’s stock valued at $23,628,000 after purchasing an additional 388,280 shares during the period. State Street Corp raised its holdings in shares of Wave Life Sciences by 2.6% in the 3rd quarter. State Street Corp now owns 2,321,248 shares of the company’s stock valued at $19,034,000 after purchasing an additional 57,822 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Wave Life Sciences by 14.3% during the third quarter. Geode Capital Management LLC now owns 2,269,664 shares of the company’s stock valued at $18,615,000 after purchasing an additional 283,419 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its position in Wave Life Sciences by 16.6% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 2,123,466 shares of the company’s stock valued at $17,412,000 after acquiring an additional 302,528 shares in the last quarter. 89.73% of the stock is owned by hedge funds and other 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.