Wave Life Sciences Ltd. (NASDAQ:WVE) Given Average Recommendation of “Moderate Buy” by Brokerages

Wave Life Sciences Ltd. (NASDAQ:WVE) has received a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $10.14.

Several equities research analysts recently issued reports on the company. Leerink Partnrs raised Wave Life Sciences from a “market perform” rating to an “outperform” rating in a research note on Tuesday, December 19th. StockNews.com lowered Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 18th. HC Wainwright lifted their price objective on Wave Life Sciences from $8.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Truist Financial reissued a “buy” rating and set a $17.00 price objective on shares of Wave Life Sciences in a research note on Monday, April 1st. Finally, SVB Leerink raised Wave Life Sciences from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $5.00 to $12.00 in a research note on Tuesday, December 19th.

Insiders Place Their Bets

In other news, CFO Kyle Moran sold 15,630 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $6.17, for a total value of $96,437.10. Following the completion of the sale, 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 filing with the SEC, which is available at this hyperlink. Corporate insiders own 31.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada increased its holdings in Wave Life Sciences by 257.9% during the 2nd quarter. Royal Bank of Canada now owns 8,787 shares of the company’s stock valued at $32,000 after purchasing an additional 6,332 shares during the period. Tower Research Capital LLC TRC increased its holdings in Wave Life Sciences by 256.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 9,217 shares of the company’s stock valued at $34,000 after purchasing an additional 6,630 shares during the period. Prudential Financial Inc. purchased a new position in Wave Life Sciences during the 2nd quarter valued at about $41,000. Mirabella Financial Services LLP purchased a new position in Wave Life Sciences during the 1st quarter valued at about $44,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Wave Life Sciences during the 1st quarter valued at about $48,000. Institutional investors own 89.73% of the company’s stock.

Wave Life Sciences Stock Performance

Shares of NASDAQ WVE opened at $6.00 on Friday. The stock has a market cap of $733.70 million, a PE ratio of -10.91 and a beta of -1.12. Wave Life Sciences has a fifty-two week low of $3.15 and a fifty-two week high of $7.67. The stock has a fifty day moving average of $5.29 and a 200-day moving average of $5.24.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Wednesday, March 6th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.04. The company had revenue of $29.06 million during the quarter, compared to analysts’ expectations of $23.30 million. During the same quarter last year, the firm posted ($0.47) earnings per share. On average, sell-side analysts predict that Wave Life Sciences will post -0.94 EPS for the current year.

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.