Wave Life Sciences (NASDAQ:WVE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Saturday.
According to Zacks, “WAVE Life Sciences Pte. Ltd. is a preclinical biopharmaceutical company. It designs, develops and commercializes nucleic acid therapeutic candidates for Huntington’s disease, Duchenne muscular dystrophy and inflammatory bowel disease. Huntington’s disease, the Company has programs targeting HTT SNP-1 and HTT SNP-2; DMD, targeting Exon 51 and in IBD, it is targeting SMAD7. The Company has late-stage discovery programs in epidermolysis bullosa simplex, in which it is targeting KRT14 SNP-1 and KRT14 SNP-2 and in DMD, it is focused on an additional DMD target, Activin Receptor type IIb. WAVE Life Sciences Pte. Ltd. is based in Singapore. “
A number of other research analysts have also issued reports on the stock. BidaskClub upgraded shares of Wave Life Sciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 2nd. Leerink Swann restated an “outperform” rating and issued a $53.00 target price (up from $42.00) on shares of Wave Life Sciences in a report on Wednesday, November 15th. Mizuho set a $34.00 target price on shares of Wave Life Sciences and gave the company a “buy” rating in a report on Saturday, October 21st. Finally, TheStreet upgraded shares of Wave Life Sciences from a “d+” rating to a “c-” rating in a report on Friday, January 5th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $41.60.
Wave Life Sciences (NASDAQ WVE) traded down $0.80 during trading hours on Friday, reaching $36.55. 210,157 shares of the company’s stock were exchanged, compared to its average volume of 155,446. The stock has a market cap of $1,037.96, a price-to-earnings ratio of -10.32 and a beta of 0.75. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.50 and a current ratio of 11.50. Wave Life Sciences has a 52 week low of $15.15 and a 52 week high of $39.70.
Wave Life Sciences (NASDAQ:WVE) last released its earnings results on Thursday, November 9th. The company reported ($0.94) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.97) by $0.03. The company had revenue of $0.68 million for the quarter, compared to analyst estimates of $0.77 million. Wave Life Sciences had a negative net margin of 3,338.68% and a negative return on equity of 59.52%. equities analysts predict that Wave Life Sciences will post -3.76 earnings per share for the current year.
In other news, insider Chandra Vargeese sold 1,500 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $35.00, for a total transaction of $52,500.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ra Capital Management, Llc acquired 423,398 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were bought at an average price of $23.34 per share, for a total transaction of $9,882,109.32. The disclosure for this purchase can be found here. Corporate insiders own 53.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Nationwide Fund Advisors increased its position in Wave Life Sciences by 58.1% during the 2nd quarter. Nationwide Fund Advisors now owns 6,720 shares of the company’s stock worth $125,000 after purchasing an additional 2,470 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Wave Life Sciences by 71.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,422 shares of the company’s stock worth $175,000 after purchasing an additional 3,912 shares in the last quarter. Rhumbline Advisers increased its position in Wave Life Sciences by 62.3% during the 2nd quarter. Rhumbline Advisers now owns 12,502 shares of the company’s stock worth $233,000 after purchasing an additional 4,800 shares in the last quarter. Alliancebernstein L.P. acquired a new stake in Wave Life Sciences during the 2nd quarter worth approximately $236,000. Finally, New York State Common Retirement Fund increased its position in Wave Life Sciences by 64.9% during the 2nd quarter. New York State Common Retirement Fund now owns 12,700 shares of the company’s stock worth $236,000 after purchasing an additional 4,999 shares in the last quarter. Institutional investors and hedge funds own 73.74% of the company’s stock.
Wave Life Sciences Company Profile
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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