Wave Life Sciences (NASDAQ:WVE) Trading Down 3.2%

Wave Life Sciences Ltd. (NASDAQ:WVE)’s share price was down 3.2% during mid-day trading on Wednesday . The company traded as low as $5.70 and last traded at $5.70. Approximately 80,712 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 839,095 shares. The stock had previously closed at $5.89.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on WVE shares. HC Wainwright reiterated a “buy” rating and issued a $15.00 target price on shares of Wave Life Sciences in a research report on Wednesday, June 26th. StockNews.com cut Wave Life Sciences from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Mizuho reiterated an “outperform” rating and issued a $19.00 target price on shares of Wave Life Sciences in a research report on Tuesday, June 25th. Finally, Wells Fargo & Company initiated coverage on 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. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $13.17.

Wave Life Sciences Stock Down 3.2 %

The company has a 50 day simple moving average of $5.74 and a 200-day simple moving average of $5.59. The stock has a market capitalization of $698.11 million, a price-to-earnings ratio of -11.33 and a beta of -1.12.

Wave Life Sciences (NASDAQ:WVE) last issued its earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. The firm had revenue of $19.69 million for the quarter, compared to analyst estimates of $24.80 million. During the same period in the previous year, the company earned ($0.20) earnings per share. As a group, sell-side analysts anticipate that Wave Life Sciences Ltd. will post -1.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wave Life Sciences

Institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. grew its holdings in Wave Life Sciences by 50.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after buying an additional 2,451 shares in the last quarter. Oxford Asset Management LLP bought a new stake in Wave Life Sciences during the fourth quarter worth $51,000. Profund Advisors LLC bought a new position in Wave Life Sciences in the 2nd quarter valued at $53,000. Tower Research Capital LLC TRC grew its stake in Wave Life Sciences by 461.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,335 shares of the company’s stock valued at $57,000 after purchasing an additional 9,316 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in Wave Life Sciences in the 4th quarter valued at $64,000. 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.