Wave Life Sciences (NASDAQ:WVE) Stock Price Passes Below 50Day Moving Average Of $3.20

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Shares of Wave Life Sciences Ltd (NASDAQ: WVE – Get Rating) fell below their 50-day moving average during trading on Friday. The stock has a fifty-day moving average of $3.20 and is trading up to $3.05. Wave Life Sciences shares last traded at $3.22 on a volume of 816,298 shares changed hands.

Wave Life Sciences shares fell 4.2%.

The stock has a market cap of $279.56 million, a P/E of -1.63, and a beta of -0.55. The company's 50-day moving average is $3.20 and the 200-day moving average is $2.48.

Wave Life Sciences (NASDAQ: WVE – Get Rating) last released quarterly earnings data on Thursday, August 11. The company reported ($0.62) earnings per share (EPS) for the quarter, falling short of the ($0.56) consensus estimate by ($0.06). The company's revenue for the quarter was $0.38 million, while analysts had expected $3.25 million. Wave Life Sciences had a negative net margin of 297.98% and a negative return on equity of 515.04%. Wave Life Sciences Ltd stock analysts. Year-to-date earnings per share are -2.24.

Hedge funds value Wave Life Sciences Institutional investors have been buying and selling shares of the company recently. And Intercept Hong Kong Ltd acquired a new position at Wave Life Sciences in the second quarter for about $37,000. Prudential Financial Inc. acquired a new position in Wave Life Sciences stock worth about $41,000 in the second quarter. In the first quarter, Mirabella Financial Services LLP acquired a new position in Wave Life Sciences stock worth approximately $44,000. Gyon Technologies Capital Management LP increased its exposure to Wave Life Sciences stock by 97.2% during the first quarter. Gyon Technologies Capital Management LP now owns 24,567 shares of the company worth $49,000 after purchasing an additional 12,106 shares in the latest quarter. Finally, in the second quarter, Cubist Systematic Strategies LLC acquired a new position in Wave Life Sciences stock worth about $67,000. 89.28% of the shares are owned by institutional investors and hedge funds. Wave Life Sciences Company Profile

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Wave Life Sciences Ltd., a clinical stage gene medicine company, designs, optimizes and manufactures new stereopure oligonucleotides with PRISM, a drug discovery and development platform. He designs ribonucleic acid-targeted oligonucleotides to reduce the expression of disease-promoting proteins, or restore functional protein production, or modulate protein expression.

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