Wave Life Sciences (NASDAQ:WVE) Shares Down 5.8% – Should You Sell?

Wave Life Sciences Ltd. (NASDAQ:WVE)’s share price was down 5.8% during trading on Monday . The stock traded as low as $10.30 and last traded at $10.53. Approximately 595,601 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 860,942 shares. The stock had previously closed at $11.17.

Analyst Ratings Changes

A number of analysts have issued reports on the company. B. Riley raised their target price on Wave Life Sciences from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. HC Wainwright reissued a “buy” rating and issued a $22.00 price objective on shares of Wave Life Sciences in a report on Wednesday, November 13th. Royal Bank of Canada upped their price objective on shares of Wave Life Sciences from $7.00 to $15.00 and gave the company a “sector perform” rating in a report on Monday, October 21st. StockNews.com downgraded shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th. Finally, Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $13.00 to $22.00 in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $22.22.

Wave Life Sciences Stock Performance

The stock has a market capitalization of $1.66 billion, a PE ratio of -9.83 and a beta of -1.09. The business’s 50-day moving average price is $12.55 and its 200 day moving average price is $10.68.

Insider Buying and Selling

In other news, CEO Paul Bolno sold 50,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $15.00, for a total transaction of $750,000.00. Following the transaction, the chief executive officer now directly owns 217,351 shares in the company, valued at approximately $3,260,265. This represents a 18.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 29.10% of the stock is owned by company insiders.

Institutional Trading of Wave Life Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Wave Life Sciences by 209.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 844,617 shares of the company’s stock valued at $6,926,000 after purchasing an additional 571,345 shares during the period. FMR LLC increased its position in shares of Wave Life Sciences by 174.5% in the third quarter. FMR LLC now owns 1,540,190 shares of the company’s stock valued at $12,630,000 after acquiring an additional 979,110 shares during the period. Maven Securities LTD purchased a new position in shares of Wave Life Sciences in the third quarter valued at about $6,970,000. Privium Fund Management B.V. bought a new position in shares of Wave Life Sciences during the third quarter valued at about $400,000. Finally, Moody Aldrich Partners LLC boosted its holdings in shares of Wave Life Sciences by 69.0% during the third quarter. Moody Aldrich Partners LLC now owns 303,062 shares of the company’s stock worth $2,485,000 after purchasing an additional 123,703 shares during the period. Hedge funds and other institutional investors 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.