Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) have received a consensus rating of “Buy” from the eight research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $39.75.
A number of equities analysts recently commented on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $40.00 price target (down from $42.00) on shares of WAVE Life Sciences in a research report on Thursday, August 10th. Zacks Investment Research raised shares of WAVE Life Sciences from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Mizuho set a $34.00 price target on shares of WAVE Life Sciences and gave the stock a “buy” rating in a research report on Friday, August 18th. Finally, BidaskClub raised shares of WAVE Life Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th.
In other WAVE Life Sciences news, Director Masaharu Tanaka sold 20,747 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $24.21, for a total value of $502,284.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 53.00% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in WVE. Teachers Advisors LLC increased its holdings in WAVE Life Sciences by 10.0% in the 4th quarter. Teachers Advisors LLC now owns 13,088 shares of the company’s stock valued at $342,000 after buying an additional 1,190 shares during the period. Bank of New York Mellon Corp increased its holdings in WAVE Life Sciences by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 31,350 shares of the company’s stock valued at $862,000 after buying an additional 279 shares during the period. American International Group Inc. increased its holdings in WAVE Life Sciences by 7.1% in the 1st quarter. American International Group Inc. now owns 4,554 shares of the company’s stock valued at $125,000 after buying an additional 302 shares during the period. MARSHALL WACE ASIA Ltd bought a new position in WAVE Life Sciences in the 1st quarter valued at about $835,000. Finally, Marshall Wace North America L.P. bought a new position in WAVE Life Sciences in the 1st quarter valued at about $835,000. 69.58% of the stock is currently owned by hedge funds and other institutional investors.
WAVE Life Sciences (NASDAQ:WVE) traded down 0.67% on Thursday, hitting $22.20. 39,084 shares of the stock traded hands. The stock’s market cap is $616.27 million. The firm’s 50 day moving average is $23.29 and its 200 day moving average is $21.05. WAVE Life Sciences has a 52 week low of $15.15 and a 52 week high of $40.15.
WAVE Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Wednesday, August 9th. The company reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.14). WAVE Life Sciences had a negative return on equity of 55.19% and a negative net margin of 3,375.12%. The business had revenue of $0.68 million for the quarter, compared to the consensus estimate of $0.73 million. Equities analysts anticipate that WAVE Life Sciences will post ($3.71) earnings per share for the current year.
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About WAVE Life Sciences
WAVE Life Sciences Ltd. is a genetic medicines company. The Company, through its synthetic chemistry drug development platform, designs, develops and commercializes a pipeline of nucleic acid therapeutic candidates for genetically defined diseases. The Company is engaged in developing oligonucleotides that target genetic defects to either reduce the expression of disease-promoting proteins or transform the production of dysfunctional mutant proteins into the production of functional proteins.
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