BlackRock Fund Advisors has recently announced that it has increased stake in Wave Life Sciences Ltd. (NASDAQ:WVE) by 5.30%. After grabbing 4.47 million shares, the institutional investor is now in possession of 0.22 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 4.52% having worth around $24.06 million. Moreover, Kynam Capital Management LP increased its share by 7480.0 to have a control over 3.93 million shares. And Geode Capital Management LLC raised its holdings to 65462.0 shares by acquiring 1.4 million shares or 1.41% of the stake.
Wave Life Sciences Ltd. (WVE) concluded trading on 12/07/23 at a closing price of $4.78, with 5.18 million shares of worth about $24.77 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 16.30% during that period and on Thursday the price saw a loss of about -30.42%. Currently the company’s common shares owned by public are about 86.92M shares, out of which, 72.81M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the WVE stock and their offered price forecasts bring an average price target of $8.21. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $17.00 and could fall to a lowest price of $5.00. The stock’s current price level is 41.78% above of average price target set by the analysts, while a rise to estimated low would result in gain of 4.4% for the stock. However, touching the estimated high of $17.00 would mean a gain of 71.88% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 5 times over the past 12 months. They bought 0 shares in 0 of the transactions. In 5 selling transactions, insiders dumped 96,698 shares.
BB Biotech AG, PRIMECAP Odyssey Aggressive Growt, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Wave Life Sciences Ltd. BB Biotech AG is currently holding 4.49 million shares of worth totaling $24.18 million. The company recently came buying 0.0 shares which brought its stake up to 4.54% of the company’s outstanding shares. PRIMECAP Odyssey Aggressive Growt sold -0.26 million shares, after which its hold over company’s outstanding shares shrunk to 3.36%, leaving 3.32 million shares with the mutual fund that have a worth of about $17.88 million. iShares Russell 2000 ETF, after selling 1.34 million shares, have now control over 1.35% of the stake in the company. It holds 13452.0 shares of worth $7.21 million.
Wave Life Sciences Ltd. (NASDAQ: WVE) started trading at $4.63, below -$2.24 from concluding price of the previous day. Stock saw a price change of -9.98% in past 5 days and over the past one month there was a price change of -16.87%. Year-to-date (YTD), WVE shares are showing a performance of -31.71% which increased to 8.88% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $3.15 but also hit the highest price of $7.12 during that period. The average intraday trading volume for Wave Life Sciences Ltd. shares is 335.57K. The stock is currently trading -13.00% below its 20-day simple moving average (SMA20), while that difference is down -13.91% for SMA50 and it goes to 4.60% higher than SMA200.
BlackRock Fund Advisors acquired 4.47 million shares of Wave Life Sciences Ltd. having value of about $24.06 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.22 million shares in the company valued at close to $1075390.06, or have control over 5.30% stake in the company. Wave Life Sciences Ltd. (NASDAQ: WVE) currently have 86.92M outstanding shares and institutions hold larger chunk of about 66.27% of that. Holding of mutual funds in the company is about 44.89% while other institutional holders and individual stake holders have control over 50.36% and 15.98% of the stake respectively.
The stock has a current market capitalization of $473.46M and its 3Y-monthly beta is at -1.22. It has posted earnings per share of -$0.87 in the same period. It has Quick Ratio of 1.59. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for WVE, volatility over the week remained 8.55% while standing at 6.37% over the month.
Analysts are in expectations that Wave Life Sciences Ltd. (WVE) stock would likely to be making an EPS of -$0.22 in the current quarter, while forecast for next quarter EPS is -$0.22 and it is -$1 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.43 which is $0.03 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.47 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 69.76% while it is estimated to decrease by -60.75% in next year.
Analysts at 7 brokerage firms have issued recommendations for the Wave Life Sciences Ltd. (WVE)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 7 Wall Street analysts, 3 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Raymond James on July 05, 2023 offering an Outperform rating for the stock and assigned a target price of $7 to it.
