Wave Life Sciences (NASDAQ:WVE) Stock Price Down 6.1% – Should You Sell?

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) were down 6.1% during mid-day trading on Wednesday . The company traded as low as $10.85 and last traded at $10.54. Approximately 303,913 shares traded hands during trading, a decline of 66% from the average daily volume of 886,507 shares. The stock had previously closed at $11.23.

Analyst Ratings Changes

Several research analysts have recently issued reports on WVE shares. Jefferies Financial Group started coverage on Wave Life Sciences in a report on Tuesday, February 25th. They set a “buy” rating and a $26.00 price target on the stock. StockNews.com upgraded shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Truist Financial raised their price objective on shares of Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Mizuho upped their target price on Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, HC Wainwright reiterated a “buy” rating and set a $22.00 price target on shares of Wave Life Sciences in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.60.

Wave Life Sciences Stock Performance

The stock has a 50 day moving average of $11.51 and a two-hundred day moving average of $11.18. The stock has a market cap of $1.43 billion, a PE ratio of -8.47 and a beta of -1.09.

Wave Life Sciences (NASDAQ:WVE) last released its earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.34. The business had revenue of $83.75 million for the quarter, compared to the consensus estimate of $25.60 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. Analysts expect that Wave Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Institutional Trading of Wave Life Sciences

Hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. grew its holdings in shares of Wave Life Sciences by 16.6% during the fourth quarter. Victory Capital Management Inc. now owns 14,546 shares of the company’s stock valued at $180,000 after buying an additional 2,073 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in Wave Life Sciences by 31.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company’s stock valued at $119,000 after acquiring an additional 2,308 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Wave Life Sciences in the 4th quarter valued at about $40,000. Kraematon Investment Advisors Inc. lifted its position in shares of Wave Life Sciences by 24.3% in the fourth quarter. Kraematon Investment Advisors Inc. now owns 19,885 shares of the company’s stock worth $246,000 after purchasing an additional 3,885 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in shares of Wave Life Sciences by 36.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 15,579 shares of the company’s stock worth $193,000 after purchasing an additional 4,120 shares in the last quarter. Hedge funds and other 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.