Short Interest in Wave Life Sciences Ltd. (NASDAQ:WVE) Declines By 19.2%

Wave Life Sciences Ltd. (NASDAQ:WVE) was the recipient of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totalling 3,880,000 shares, a decrease of 19.2% from the June 30th total of 4,800,000 shares. Based on an average daily volume of 869,400 shares, the short-interest ratio is presently 4.5 days.

Wave Life Sciences Stock Performance

Shares of WVE stock opened at $6.53 on Monday. The firm has a fifty day simple moving average of $5.83 and a 200-day simple moving average of $5.43. Wave Life Sciences has a twelve month low of $3.50 and a twelve month high of $7.67.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The business had revenue of $12.54 million for the quarter, compared to analysts’ expectations of $25.67 million. During the same quarter last year, the business earned ($0.27) EPS. As a group, equities analysts predict that Wave Life Sciences will post -0.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WVE has been the subject of several research analyst reports. Mizuho reaffirmed an “outperform” rating and set a $19.00 price target on shares of Wave Life Sciences in a research report on Tuesday, June 25th. HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of Wave Life Sciences in a research report on Wednesday, June 26th. Wells Fargo & Company began coverage on shares of Wave Life Sciences in a research report on Wednesday, May 15th. They issued an “overweight” rating and a $11.00 price objective for the company. StockNews.com lowered shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Finally, Truist Financial reissued a “buy” rating and issued a $17.00 price objective on shares of Wave Life Sciences in a research report on Monday, April 1st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $13.17.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. lifted its position 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 worth $45,000 after buying an additional 2,451 shares during the last quarter. Oxford Asset Management LLP acquired a new stake in shares of Wave Life Sciences in the 4th quarter worth about $51,000. Tower Research Capital LLC TRC increased its holdings in shares of Wave Life Sciences by 461.4% in the 4th 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 period. China Universal Asset Management Co. Ltd. increased its holdings in shares of Wave Life Sciences by 351.7% in the 4th 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 period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Wave Life Sciences in the 4th quarter worth about $64,000. 89.73% of the stock is currently 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.