Wave Life Sciences (NASDAQ:WVE) Shares Gap Down – Time to Sell?

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) gapped down prior to trading on Thursday . The stock had previously closed at $14.90, but opened at $14.45. Wave Life Sciences shares last traded at $15.64, with a volume of 380,923 shares.

Analyst Ratings Changes

WVE has been the topic of several recent analyst reports. Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $13.00 to $22.00 in a research report on Wednesday. Mizuho reiterated an “outperform” rating and issued a $19.00 price target on shares of Wave Life Sciences in a research note on Tuesday, June 25th. Wells Fargo & Company increased their price objective on shares of Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday. Leerink Partners boosted their target price on Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Royal Bank of Canada increased their price target on Wave Life Sciences from $5.00 to $7.00 and gave the company a “sector perform” rating in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wave Life Sciences has an average rating of “Moderate Buy” and a consensus price target of $18.56.

Wave Life Sciences Trading Up 4.8 %

The stock has a market cap of $1.88 billion, a P/E ratio of -29.44 and a beta of -1.10. The company has a 50-day moving average price of $7.10 and a two-hundred day moving average price of $6.22.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings data 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). The firm had revenue of $19.69 million for the quarter, compared to the consensus estimate of $24.80 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. During the same quarter last year, the firm earned ($0.20) EPS. As a group, equities analysts forecast that Wave Life Sciences Ltd. will post -1.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kyle Moran sold 17,146 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total value of $154,314.00. Following the sale, the chief financial officer now directly owns 19,777 shares in the company, valued at approximately $177,993. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Kyle Moran sold 17,146 shares of Wave Life Sciences stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total transaction of $154,314.00. Following the completion of the sale, the chief financial officer now owns 19,777 shares in the company, valued at $177,993. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total transaction of $279,555.48. Following the completion of the sale, the chief executive officer now directly owns 359,059 shares of the company’s stock, valued at approximately $2,075,361.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 364,822 shares of company stock valued at $4,645,768 over the last 90 days. Insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of WVE. Ameritas Investment Partners Inc. raised its holdings in shares of Wave Life Sciences by 50.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after purchasing an additional 2,451 shares in the last quarter. Profund Advisors LLC bought a new position in Wave Life Sciences in the second quarter worth approximately $53,000. Principal Financial Group Inc. bought a new position in Wave Life Sciences in the second quarter worth approximately $74,000. Mackenzie Financial Corp lifted its holdings in Wave Life Sciences by 13.6% during the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after buying an additional 1,905 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in Wave Life Sciences during the 2nd quarter valued at $104,000. 89.73% of the stock is owned by institutional investors.

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.