Wave Life Sciences (NASDAQ:WVE) Upgraded at Raymond James

Raymond James upgraded shares of Wave Life Sciences (NASDAQ:WVE) from an outperform rating to a strong-buy rating in a report published on Wednesday, MarketBeat reports. They currently have $22.00 target price on the stock, up from their previous target price of $13.00.

Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada upped their target price on Wave Life Sciences from $5.00 to $7.00 and gave the stock a “sector perform” rating in a research report on Friday, October 4th. Mizuho reaffirmed an “outperform” rating and issued a $19.00 target price on shares of Wave Life Sciences in a research report on Tuesday, June 25th. B. Riley upped their target price on Wave Life Sciences from $11.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. started coverage on Wave Life Sciences in a research report on Friday, September 27th. They issued an “overweight” rating and a $13.00 target price for the company. Finally, HC Wainwright upped their target price on Wave Life Sciences from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.56.

Wave Life Sciences Trading Up 4.8 %

WVE stock opened at $15.31 on Wednesday. The stock has a 50-day moving average price of $7.10 and a two-hundred day moving average price of $6.22. Wave Life Sciences has a 12-month low of $3.50 and a 12-month high of $15.92. The company has a market cap of $1.88 billion, a PE ratio of -29.44 and a beta of -1.10.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $24.80 million. During the same period last year, the firm posted ($0.20) EPS. Equities analysts forecast that Wave Life Sciences will post -1.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Chris Francis sold 208,836 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $13.67, for a total value of $2,854,788.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Wave Life Sciences news, insider Chris Francis sold 208,836 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $13.67, for a total transaction of $2,854,788.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Paul Bolno sold 48,366 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total value of $279,555.48. Following the sale, the chief executive officer now owns 359,059 shares in the company, valued at $2,075,361.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 364,822 shares of company stock worth $4,645,768. 29.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Wave Life Sciences

Several institutional investors and hedge funds have recently bought and sold shares of the company. Emerald Advisers LLC bought a new position in shares of Wave Life Sciences during the second quarter valued at approximately $12,441,000. Emerald Mutual Fund Advisers Trust bought a new position in shares of Wave Life Sciences during the second quarter valued at approximately $9,086,000. Artal Group S.A. grew its holdings in shares of Wave Life Sciences by 34.7% during 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 bought a new position in shares of Wave Life Sciences during the first quarter valued at approximately $3,641,000. Finally, Vanguard Group Inc. grew its holdings in shares of Wave Life Sciences by 39.7% during the first quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock valued at $11,316,000 after purchasing an additional 521,665 shares during the last quarter. Institutional investors and hedge funds 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.