Wave Life Sciences (NASDAQ:WVE) Receives Buy Rating from HC Wainwright

Wave Life Sciences (NASDAQ:WVE)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $22.00 price objective on the stock. HC Wainwright’s price objective would suggest a potential upside of 46.67% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Wells Fargo & Company raised their target price on shares of Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Truist Financial raised their price objective on Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. upped their target price on Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Raymond James raised Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $13.00 to $22.00 in a research report on Wednesday, October 16th. Finally, B. Riley lifted their price objective on Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.89.

Wave Life Sciences Stock Down 4.4 %

Shares of Wave Life Sciences stock opened at $15.00 on Wednesday. The stock’s fifty day moving average is $10.40 and its two-hundred day moving average is $7.41. Wave Life Sciences has a 52 week low of $3.50 and a 52 week high of $16.74. The company has a market capitalization of $1.87 billion, a PE ratio of -13.54 and a beta of -1.20.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.19). The company had revenue of ($7.68) million during the quarter, compared to the consensus estimate of $15.45 million. Wave Life Sciences had a negative return on equity of 694.73% and a negative net margin of 66.50%. As a group, research analysts anticipate that Wave Life Sciences will post -1.01 earnings per share for the current year.

Insider Activity at Wave Life Sciences

In related news, CFO Kyle Moran sold 17,146 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total transaction of $154,314.00. Following the completion of the transaction, the chief financial officer now owns 19,777 shares in the company, valued at $177,993. The trade was a 46.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Plc Gsk bought 2,791,930 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were purchased at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the transaction, the insider now directly owns 16,775,691 shares of the company’s stock, valued at $134,205,528. The trade was a 19.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 400,822 shares of company stock valued at $5,221,768 over the last quarter. 29.10% of the stock is owned by corporate insiders.

Institutional Trading of Wave Life Sciences

A number of institutional investors have recently made changes to their positions in WVE. Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 purchasing an additional 856 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Wave Life Sciences by 50.2% during 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 purchased a new stake in shares of Wave Life Sciences during the second quarter valued at $53,000. Principal Financial Group Inc. purchased a new stake in shares of Wave Life Sciences during the second quarter valued at $74,000. Finally, Mackenzie Financial Corp increased its position in shares of 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 period. Institutional investors and hedge funds own 89.73% of the company’s stock.

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.