Wave Life Sciences (NASDAQ:WVE) Shares Down 2.6% – What’s Next?

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) were down 2.6% during mid-day trading on Thursday . The stock traded as low as $13.06 and last traded at $13.06. Approximately 19,408 shares traded hands during trading, a decline of 98% from the average daily volume of 1,110,443 shares. The stock had previously closed at $13.41.

Analysts Set New Price Targets

Several brokerages have recently commented on WVE. B. Riley upped their price target on Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. upped their target price on shares of Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Wells Fargo & Company lifted their price target on shares of Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Mizuho upped their price objective on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, StockNews.com downgraded shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.22.

Wave Life Sciences Stock Down 4.3 %

The firm has a market cap of $1.97 billion, a PE ratio of -11.62 and a beta of -1.21. The business has a 50-day moving average price of $14.46 and a two-hundred day moving average price of $9.18.

Insiders Place Their Bets

In other Wave Life Sciences news, CEO Paul Bolno sold 51,234 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $14.32, for a total value of $733,670.88. Following the sale, the chief executive officer now directly owns 217,351 shares in the company, valued at $3,112,466.32. This trade represents a 19.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Francis sold 208,836 shares of Wave Life Sciences stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $13.67, for a total value of $2,854,788.12. The disclosure for this sale can be found here. Insiders have sold a total of 436,544 shares of company stock worth $6,271,569 in the last quarter. 29.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wave Life Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its stake in Wave Life Sciences by 23.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock valued at $37,000 after purchasing an additional 856 shares during the last quarter. Profund Advisors LLC acquired a new position in shares of Wave Life Sciences in the 2nd quarter valued at $53,000. Principal Financial Group Inc. purchased a new position in shares of Wave Life Sciences in the 2nd quarter valued at $74,000. Mackenzie Financial Corp grew its position in shares of Wave Life Sciences by 13.6% in the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after buying an additional 1,905 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in Wave Life Sciences in the third quarter valued at $98,000. Institutional investors and hedge funds 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.