Wave Life Sciences Ltd. (NASDAQ:WVE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Wave Life Sciences Ltd. (NASDAQ:WVE) has received a consensus rating of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $14.75.

WVE has been the topic of a number of recent research reports. JPMorgan Chase & Co. assumed coverage on shares of Wave Life Sciences in a research note on Friday, September 27th. They set an “overweight” rating and a $13.00 price target on the stock. Mizuho reaffirmed an “outperform” rating and set a $19.00 target price on shares of Wave Life Sciences in a research note on Tuesday, June 25th. HC Wainwright raised their price target on shares of Wave Life Sciences from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, B. Riley boosted their price target on shares of Wave Life Sciences from $11.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday.

Insider Activity

In other Wave Life Sciences 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 owns 359,059 shares in the company, valued at approximately $2,075,361.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total value of $279,555.48. Following the completion of the sale, the chief executive officer now owns 359,059 shares of the company’s stock, valued at $2,075,361.02. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Kyle Moran sold 17,146 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total transaction of $154,314.00. Following the sale, the chief financial officer now owns 19,777 shares in the company, valued at $177,993. The disclosure for this sale can be found here. Insiders own 29.10% 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 WVE. Artal Group S.A. increased its position in Wave Life Sciences by 34.7% during the 1st quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock worth $24,997,000 after purchasing an additional 1,044,000 shares in the last quarter. Emerald Advisers LLC purchased a new stake in shares of Wave Life Sciences during the second quarter worth about $12,441,000. Price T Rowe Associates Inc. MD raised its position in shares of Wave Life Sciences by 14.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,861,254 shares of the company’s stock valued at $11,485,000 after buying an additional 233,891 shares during the last quarter. Vanguard Group Inc. grew its stake in Wave Life Sciences by 39.7% in the 1st 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 during the period. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in Wave Life Sciences in the 2nd quarter valued at $9,086,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.

Wave Life Sciences Stock Performance

Shares of WVE opened at $8.50 on Friday. Wave Life Sciences has a one year low of $3.50 and a one year high of $9.92. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -16.35 and a beta of -1.13. The stock has a 50 day moving average price of $6.16 and a 200 day moving average price of $5.88.

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

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.