BidaskClub upgraded shares of Wave Life Sciences (NASDAQ:WVE) from a hold rating to a buy rating in a research note released on Thursday.
Several other research analysts have also recently weighed in on WVE. ValuEngine cut Wave Life Sciences from a buy rating to a hold rating in a research report on Thursday, February 14th. Leerink Swann reiterated an outperform rating on shares of Wave Life Sciences in a research report on Sunday, November 11th. Mizuho set a $65.00 price objective on Wave Life Sciences and gave the stock a buy rating in a research report on Thursday, December 6th. Zacks Investment Research lowered Wave Life Sciences from a hold rating to a sell rating in a report on Saturday, January 26th. Finally, HC Wainwright set a $49.00 target price on Wave Life Sciences and gave the stock a buy rating in a report on Monday, November 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. The company has an average rating of Buy and an average target price of $58.20.
WVE traded up $0.68 during trading hours on Thursday, reaching $42.61. The company’s stock had a trading volume of 9,574 shares, compared to its average volume of 400,902. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.11 billion, a PE ratio of -11.02 and a beta of 0.82. Wave Life Sciences has a 52 week low of $32.25 and a 52 week high of $56.00.
In other Wave Life Sciences news, Director Ra Capital Management, Llc acquired 263,158 shares of Wave Life Sciences stock in a transaction that occurred on Thursday, January 24th. The shares were acquired at an average cost of $38.00 per share, with a total value of $10,000,004.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 44.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Redmile Group LLC raised its position in shares of Wave Life Sciences by 1.3% during the third quarter. Redmile Group LLC now owns 2,273,307 shares of the company’s stock worth $113,665,000 after acquiring an additional 28,800 shares during the last quarter. BlackRock Inc. grew its stake in Wave Life Sciences by 27.8% in the fourth quarter. BlackRock Inc. now owns 1,552,595 shares of the company’s stock valued at $65,273,000 after acquiring an additional 337,752 shares during the period. BB Biotech AG grew its stake in Wave Life Sciences by 5.8% in the fourth quarter. BB Biotech AG now owns 1,465,002 shares of the company’s stock valued at $61,589,000 after acquiring an additional 80,000 shares during the period. Point72 Asset Management L.P. grew its stake in Wave Life Sciences by 14.3% in the third quarter. Point72 Asset Management L.P. now owns 400,000 shares of the company’s stock valued at $20,000,000 after acquiring an additional 50,000 shares during the period. Finally, Wells Fargo & Company MN grew its stake in Wave Life Sciences by 0.8% in the third quarter. Wells Fargo & Company MN now owns 363,536 shares of the company’s stock valued at $18,178,000 after acquiring an additional 2,903 shares during the period. Hedge funds and other institutional investors own 82.24% of the company’s stock.
About Wave Life Sciences
Wave Life Sciences Ltd., a biotechnology company, designs, develops, and commercializes nucleic acid therapeutic candidates for genetically defined diseases by utilizing proprietary synthetic chemistry drug development platform. The company is primarily 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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