Mizuho Reiterates Outperform Rating for Wave Life Sciences (NASDAQ:WVE)

Wave Life Sciences (NASDAQ:WVE)‘s stock had its “outperform” rating reiterated by equities researchers at Mizuho in a report released on Tuesday, Benzinga reports. They currently have a $19.00 price objective on the stock. Mizuho’s target price suggests a potential upside of 334.29% from the company’s current price.

Several other research firms also recently commented on WVE. Truist Financial reissued a “buy” rating and issued a $17.00 target price on shares of Wave Life Sciences in a report on Monday, April 1st. Wells Fargo & Company initiated coverage on shares of Wave Life Sciences in a research note on Wednesday, May 15th. They set an “overweight” rating and a $11.00 price target on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $5.00 price objective on shares of Wave Life Sciences in a research report on Thursday, March 7th. StockNews.com cut shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Finally, HC Wainwright boosted their price objective on shares of Wave Life Sciences from $8.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Wave Life Sciences presently has an average rating of “Moderate Buy” and an average target price of $12.29.

Wave Life Sciences Trading Down 8.3 %

Shares of NASDAQ WVE opened at $4.38 on Tuesday. Wave Life Sciences has a 12-month low of $3.45 and a 12-month high of $7.67. The firm has a market capitalization of $535.81 million, a price-to-earnings ratio of -8.41 and a beta of -1.03. The firm has a 50 day moving average of $5.72 and a 200 day moving average of $5.30.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The business had revenue of $12.54 million for the quarter, compared to analyst estimates of $25.67 million. During the same quarter in the prior year, the company earned ($0.27) earnings per share. Sell-side analysts predict that Wave Life Sciences will post -0.85 EPS for the current year.

Insider Transactions at Wave Life Sciences

In other Wave Life Sciences news, CFO Kyle Moran sold 15,630 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $6.17, for a total transaction of $96,437.10. Following the transaction, the chief financial officer now directly owns 33,921 shares in the company, valued at approximately $209,292.57. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 31.10% of the company’s stock.

Institutional Trading of Wave Life Sciences

Several hedge funds have recently modified their holdings of the company. Newtyn Management LLC raised its position in shares of Wave Life Sciences by 2.0% in the 3rd quarter. Newtyn Management LLC now owns 510,000 shares of the company’s stock valued at $2,932,000 after purchasing an additional 10,000 shares during the last quarter. Laurion Capital Management LP increased its holdings in Wave Life Sciences by 5.1% in the 3rd quarter. Laurion Capital Management LP now owns 871,500 shares of the company’s stock worth $5,011,000 after buying an additional 42,662 shares during the period. Wellington Management Group LLP increased its holdings in Wave Life Sciences by 4.3% in the 3rd quarter. Wellington Management Group LLP now owns 264,885 shares of the company’s stock worth $1,523,000 after buying an additional 10,830 shares during the period. Kraematon Investment Advisors Inc. acquired a new position in Wave Life Sciences in the 4th quarter worth approximately $237,000. Finally, SG Americas Securities LLC increased its holdings in Wave Life Sciences by 33.6% in the 4th quarter. SG Americas Securities LLC now owns 34,562 shares of the company’s stock worth $175,000 after buying an additional 8,694 shares during the period. 89.73% of the stock is owned by hedge funds and other institutional investors.

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.