Wave Life Sciences (NASDAQ:WVE) Shares Gap Up to $4.84

Wave Life Sciences Ltd. (NASDAQ:WVE)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $4.84, but opened at $5.13. Wave Life Sciences shares last traded at $5.09, with a volume of 39,453 shares traded.

Wall Street Analysts Forecast Growth

WVE has been the subject of a number of analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $5.00 price objective on shares of Wave Life Sciences in a research report on Thursday, March 7th. Truist Financial restated a “buy” rating and set a $17.00 price objective on shares of Wave Life Sciences in a research report on Monday, April 1st. StockNews.com cut shares of Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 18th. Finally, HC Wainwright upped their price target on shares of Wave Life Sciences from $8.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $10.14.

Wave Life Sciences Stock Down 1.4 %

The stock’s 50 day moving average is $5.51 and its 200 day moving average is $5.20.

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

Insider Activity at Wave Life Sciences

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

Institutional Investors Weigh In On Wave Life Sciences

Several hedge funds have recently modified their holdings of the company. Oxford Asset Management LLP purchased a new position in shares of Wave Life Sciences during the 4th quarter worth about $51,000. Tower Research Capital LLC TRC boosted its position in shares of Wave Life Sciences by 461.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,335 shares of the company’s stock worth $57,000 after acquiring an additional 9,316 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Wave Life Sciences by 351.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,456 shares of the company’s stock worth $58,000 after acquiring an additional 8,920 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Wave Life Sciences in the fourth quarter worth approximately $64,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Wave Life Sciences in the fourth quarter worth approximately $86,000. 89.73% of the stock is owned by institutional investors and hedge funds.

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.