HC Wainwright Reiterates Buy Rating for Wave Life Sciences (NASDAQ:WVE)

HC Wainwright reaffirmed their buy rating on shares of Wave Life Sciences (NASDAQ:WVE) in a research note released on Wednesday, Benzinga reports. They currently have a $15.00 price target on the stock.

Several other research firms have also issued reports on WVE. Wells Fargo & Company started coverage on shares of Wave Life Sciences in a report on Wednesday, May 15th. They issued an overweight rating and a $11.00 target price for the company. StockNews.com lowered shares of Wave Life Sciences from a buy rating to a hold rating in a report on Friday, May 10th. Royal Bank of Canada reaffirmed a sector perform rating and set a $5.00 price objective on shares of Wave Life Sciences in a 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 report on Tuesday. Finally, Truist Financial reiterated 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 stock currently has a consensus rating of Moderate Buy and a consensus target price of $12.29.

Wave Life Sciences Stock Performance

WVE opened at $4.38 on Wednesday. The stock has a market capitalization of $535.81 million, a P/E ratio of -8.41 and a beta of -1.03. The company’s 50-day simple moving average is $5.72 and its two-hundred day simple moving average is $5.30. Wave Life Sciences has a 52-week low of $3.45 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) EPS 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 analysts’ expectations of $25.67 million. During the same period in the prior year, the firm earned ($0.27) earnings per share. Research analysts forecast that Wave Life Sciences will post -0.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Wave Life Sciences news, CFO Kyle Moran sold 15,630 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $6.17, for a total value of $96,437.10. Following the sale, the chief financial officer now owns 33,921 shares in the company, valued at $209,292.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 31.10% of the company’s stock.

Institutional Trading of Wave Life Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. Artal Group S.A. grew its stake in Wave Life Sciences by 34.7% in the first quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock valued at $24,997,000 after purchasing an additional 1,044,000 shares during the last quarter. Ikarian Capital LLC acquired a new stake in Wave Life Sciences in the first quarter worth about $3,641,000. Vanguard Group Inc. boosted its holdings in Wave Life Sciences by 39.7% in the first quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock worth $11,316,000 after acquiring an additional 521,665 shares in the last quarter. M28 Capital Management LP boosted its holdings in Wave Life Sciences by 4.7% in the fourth quarter. M28 Capital Management LP now owns 7,373,413 shares of the company’s stock worth $37,236,000 after acquiring an additional 328,913 shares in the last quarter. Finally, Affinity Asset Advisors LLC acquired a new stake in shares of Wave Life Sciences during the first quarter worth about $1,768,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

About Wave Life Sciences

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.