Wave Life Sciences Ltd. (NASDAQ:WVE) Short Interest Up 23.3% in June

Wave Life Sciences Ltd. (NASDAQ:WVE) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totalling 3,120,000 shares, a growth of 23.3% from the May 31st total of 2,530,000 shares. Based on an average trading volume of 759,600 shares, the days-to-cover ratio is presently 4.1 days.

Wave Life Sciences Stock Performance

Shares of WVE opened at $5.24 on Tuesday. The firm has a market capitalization of $641.13 million, a PE ratio of -10.07 and a beta of -1.12. The stock has a 50 day simple moving average of $5.73 and a 200 day simple moving average of $5.32. Wave Life Sciences has a 52-week low of $3.50 and a 52-week high of $7.67.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The firm had revenue of $12.54 million for the quarter, compared to the consensus estimate of $25.67 million. During the same period in the previous year, the business earned ($0.27) EPS. Equities research analysts predict that Wave Life Sciences will post -0.85 EPS for the current fiscal year.

Insider Buying and Selling at Wave Life Sciences

In other Wave Life Sciences news, CFO Kyle Moran sold 15,630 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $6.17, for a total transaction of $96,437.10. Following the transaction, the chief financial officer now owns 33,921 shares of the company’s stock, valued at approximately $209,292.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 29.10% of the company’s stock.

Institutional Trading of Wave Life Sciences

Several hedge funds and other institutional investors have recently modified their holdings of WVE. Laurion Capital Management LP lifted its position in shares of Wave Life Sciences by 5.1% in the third quarter. Laurion Capital Management LP now owns 871,500 shares of the company’s stock worth $5,011,000 after purchasing an additional 42,662 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Wave Life Sciences by 4.3% in the 3rd quarter. Wellington Management Group LLP now owns 264,885 shares of the company’s stock valued at $1,523,000 after acquiring an additional 10,830 shares in the last quarter. Kraematon Investment Advisors Inc. acquired a new stake in shares of Wave Life Sciences in the fourth quarter valued at about $237,000. SG Americas Securities LLC raised its holdings in Wave Life Sciences by 33.6% during the fourth quarter. SG Americas Securities LLC now owns 34,562 shares of the company’s stock worth $175,000 after acquiring an additional 8,694 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in Wave Life Sciences by 351.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,456 shares of the company’s stock valued at $58,000 after purchasing an additional 8,920 shares during the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WVE. Wells Fargo & Company began coverage on shares of Wave Life Sciences in a research note on Wednesday, May 15th. They set an “overweight” rating and a $11.00 price target for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $5.00 price target on shares of Wave Life Sciences in a research report on Thursday, March 7th. Mizuho reaffirmed an “outperform” rating and set a $19.00 price objective on shares of Wave Life Sciences in a research note on Tuesday, June 25th. StockNews.com lowered Wave Life Sciences from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Finally, Truist Financial restated a “buy” rating and set a $17.00 target price on shares of Wave Life Sciences in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $12.29.

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.