Wave Life Sciences Ltd. (NASDAQ:WVE) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have been given a consensus rating of “Buy” by the ten analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $22.60.

Several analysts have recently weighed in on WVE shares. StockNews.com upgraded shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Jefferies Financial Group initiated coverage on Wave Life Sciences in a report on Tuesday, February 25th. They set a “buy” rating and a $26.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a research report on Wednesday.

Insider Buying and Selling

In other Wave Life Sciences news, CEO Paul Bolno sold 169,025 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the transaction, the chief executive officer now owns 338,351 shares of the company’s stock, valued at approximately $3,238,019.07. This represents a 33.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christian O. Henry sold 10,500 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $9.77, for a total value of $102,585.00. Following the completion of the transaction, the director now owns 16,115 shares in the company, valued at $157,443.55. The trade was a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wave Life Sciences

Several large investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. bought a new stake in shares of Wave Life Sciences during the 4th quarter valued at $40,000. Quarry LP bought a new position in shares of Wave Life Sciences in the 4th quarter worth $62,000. KBC Group NV acquired a new stake in shares of Wave Life Sciences during the fourth quarter worth $67,000. Point72 DIFC Ltd bought a new stake in Wave Life Sciences in the third quarter valued at about $98,000. Finally, Summit Investment Advisors Inc. lifted its stake in Wave Life Sciences by 31.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company’s stock valued at $119,000 after buying an additional 2,308 shares during the period. 89.73% of the stock is currently owned by institutional investors and hedge funds.

Wave Life Sciences Stock Down 10.1 %

Wave Life Sciences stock opened at $9.01 on Friday. The business has a 50 day moving average price of $10.78 and a two-hundred day moving average price of $11.63. Wave Life Sciences has a 12 month low of $4.25 and a 12 month high of $16.74. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -8.12 and a beta of -1.04.

Wave Life Sciences (NASDAQ:WVE) last issued its earnings results on Tuesday, March 4th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.34. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. The firm had revenue of $83.75 million during the quarter, compared to analysts’ expectations of $25.60 million. On average, analysts expect that Wave Life Sciences will post -1.14 earnings per share for the current fiscal year.

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.