Wave Life Sciences (NASDAQ:WVE) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Wave Life Sciences (NASDAQ:WVE) in a report issued on Thursday morning, Benzinga reports. They currently have a $22.00 price objective on the stock.

WVE has been the subject of several other research reports. Raymond James raised Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $13.00 to $22.00 in a report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Leerink Partners raised their target price on shares of Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on shares of Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, B. Riley increased their price objective 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, October 3rd. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.44.

Wave Life Sciences Trading Up 0.9 %

WVE opened at $13.83 on Thursday. The company’s 50 day moving average is $8.87 and its 200 day moving average is $6.82. The company has a market cap of $1.73 billion, a price-to-earnings ratio of -24.26 and a beta of -1.20. Wave Life Sciences has a 12-month low of $3.50 and a 12-month high of $15.92.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $19.69 million for the quarter, compared to analysts’ expectations of $24.80 million. During the same quarter in the prior year, the business earned ($0.20) EPS. As a group, analysts predict that Wave Life Sciences will post -1.01 EPS for the current fiscal year.

Insider Activity at Wave Life Sciences

In other Wave Life Sciences news, CEO Paul Bolno sold 90,474 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $15.00, for a total value of $1,357,110.00. Following the sale, the chief executive officer now owns 268,585 shares in the company, valued at $4,028,775. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Kyle Moran sold 17,146 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the completion of the transaction, the chief financial officer now directly owns 19,777 shares of the company’s stock, valued at approximately $177,993. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Paul Bolno sold 90,474 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $15.00, for a total transaction of $1,357,110.00. Following the completion of the sale, the chief executive officer now owns 268,585 shares in the company, valued at $4,028,775. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 364,822 shares of company stock valued at $4,645,768. Corporate insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Wave Life Sciences

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Wave Life Sciences by 23.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock worth $37,000 after acquiring an additional 856 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Wave Life Sciences by 50.2% in the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after buying an additional 2,451 shares during the period. Profund Advisors LLC bought a new stake in shares of Wave Life Sciences during the 2nd quarter worth approximately $53,000. Principal Financial Group Inc. purchased a new position in Wave Life Sciences during the 2nd quarter valued at $74,000. Finally, Mackenzie Financial Corp grew its position 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 acquiring an additional 1,905 shares during the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

Wave Life Sciences Company Profile

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.