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

HC Wainwright restated their buy rating on shares of Wave Life Sciences (NASDAQ:WVE) in a research report report published on Thursday, Benzinga reports. HC Wainwright currently has a $22.00 price target on the stock.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. started coverage on Wave Life Sciences in a research note on Friday, September 27th. They issued an “overweight” rating and a $13.00 price objective on the stock. Royal Bank of Canada raised their price objective on Wave Life Sciences from $5.00 to $7.00 and gave the company a “sector perform” rating in a research note on Friday, October 4th. Mizuho restated an “outperform” rating and set a $19.00 price objective on shares of Wave Life Sciences in a research note on Tuesday, June 25th. B. Riley raised their price objective on shares of Wave Life Sciences from $11.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Leerink Partners boosted their price target on shares of Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.56.

Wave Life Sciences Price Performance

WVE stock opened at $14.61 on Thursday. Wave Life Sciences has a fifty-two week low of $3.50 and a fifty-two week high of $15.92. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -28.10 and a beta of -1.10. The business’s fifty day moving average price is $6.90 and its two-hundred day moving average price is $6.16.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.09). Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. The business had revenue of $19.69 million during the quarter, compared to analyst estimates of $24.80 million. During the same quarter last year, the firm earned ($0.20) EPS. Research analysts expect that Wave Life Sciences will post -1.02 EPS for the current year.

Insider Buying and Selling at Wave Life Sciences

In other Wave Life Sciences news, major shareholder Plc Gsk acquired 2,791,930 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were purchased at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the transaction, the insider now owns 16,775,691 shares in the company, valued at $134,205,528. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Paul Bolno sold 48,366 shares of Wave Life Sciences stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total value of $279,555.48. Following the completion of the sale, the chief executive officer now directly owns 359,059 shares in the company, valued at approximately $2,075,361.02. This trade represents a 0.00 % 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, major shareholder Plc Gsk acquired 2,791,930 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the acquisition, the insider now directly owns 16,775,691 shares of the company’s stock, valued at $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp lifted its position in shares of Wave Life Sciences by 13.6% in the second 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 in the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Wave Life Sciences by 50.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after acquiring an additional 2,451 shares during the last quarter. Rhumbline Advisers increased its stake in Wave Life Sciences by 3.4% in the 2nd quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock worth $628,000 after buying an additional 4,092 shares during the period. Swiss National Bank raised its position in Wave Life Sciences by 2.7% during the 1st quarter. Swiss National Bank now owns 156,500 shares of the company’s stock valued at $966,000 after purchasing an additional 4,100 shares in the last quarter. Finally, Capstone Investment Advisors LLC raised its holdings in shares of Wave Life Sciences by 9.0% in the 1st quarter. Capstone Investment Advisors LLC now owns 54,500 shares of the company’s stock valued at $336,000 after purchasing an additional 4,500 shares in the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

About Wave Life Sciences

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.