Wave Life Sciences (NASDAQ:WVE) Research Coverage Started at B. Riley

Equities research analysts at B. Riley assumed coverage on shares of Wave Life Sciences (NASDAQ:WVE) in a report released on Thursday, Briefing.com reports. The brokerage set a “buy” rating and a $11.00 price target on the stock. B. Riley’s price objective would suggest a potential upside of 101.10% from the stock’s current price.

WVE has been the topic of a number of other research reports. Mizuho reissued an “outperform” rating and issued a $19.00 price objective on shares of Wave Life Sciences in a research report on Tuesday, June 25th. HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of Wave Life Sciences in a report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. assumed coverage on Wave Life Sciences in a research note on Monday, September 9th. They issued an “overweight” rating and a $10.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $12.50.

Wave Life Sciences Price Performance

WVE opened at $5.47 on Thursday. The company has a market capitalization of $682.33 million, a price-to-earnings ratio of -10.52 and a beta of -1.13. The business’s 50-day moving average price is $5.84 and its two-hundred day moving average price is $5.79. Wave Life Sciences has a 1 year low of $3.50 and a 1 year high of $7.67.

Wave Life Sciences (NASDAQ:WVE) last announced its earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. The firm had revenue of $19.69 million during the quarter, compared to analyst estimates of $24.80 million. During the same period in the prior year, the business posted ($0.20) EPS. Sell-side analysts anticipate that Wave Life Sciences will post -1.04 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total transaction of $279,555.48. Following the transaction, the chief executive officer now directly owns 359,059 shares of the company’s stock, valued at approximately $2,075,361.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 29.10% of the company’s stock.

Institutional Trading of Wave Life Sciences

Several hedge funds and other institutional investors have recently modified their holdings of WVE. Ameritas Investment Partners Inc. raised its holdings in Wave Life Sciences by 50.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after acquiring an additional 2,451 shares during the period. Oxford Asset Management LLP bought a new position in shares of Wave Life Sciences during the fourth quarter worth approximately $51,000. Profund Advisors LLC acquired a new stake in Wave Life Sciences during the 2nd quarter worth approximately $53,000. Principal Financial Group Inc. bought a new stake in Wave Life Sciences in the 2nd quarter valued at $74,000. Finally, Mackenzie Financial Corp boosted its stake in Wave Life Sciences by 13.6% in the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after purchasing an additional 1,905 shares during the period. 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.