Wave Life Sciences (NASDAQ:WVE) Research Coverage Started at Wedbush

Wedbush began coverage on shares of Wave Life Sciences (NASDAQ:WVE) in a report released on Tuesday, MarketBeat.com reports. The firm issued an outperform rating and a $18.00 target price on the stock.

Other analysts have also issued research reports about the stock. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price target on shares of Wave Life Sciences in a research report on Wednesday, March 26th. StockNews.com upgraded Wave Life Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, Jefferies Financial Group initiated coverage on Wave Life Sciences in a report on Tuesday, February 25th. They set a “buy” rating and a $26.00 price target for the company. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Wave Life Sciences has a consensus rating of “Moderate Buy” and a consensus price target of $22.18.

Wave Life Sciences Stock Down 10.7 %

Shares of NASDAQ:WVE opened at $5.48 on Tuesday. Wave Life Sciences has a 52-week low of $4.25 and a 52-week high of $16.74. The business has a fifty day moving average of $9.56 and a two-hundred day moving average of $11.68. The stock has a market cap of $841.10 million, a P/E ratio of -4.94 and a beta of -0.93.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Tuesday, March 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.34. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. The firm had revenue of $83.75 million during the quarter, compared to analyst estimates of $25.60 million. On average, equities analysts anticipate that Wave Life Sciences will post -1.14 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Christian O. Henry sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $9.77, for a total transaction of $102,585.00. Following the sale, the director now directly owns 16,115 shares in the company, valued at approximately $157,443.55. This represents a 39.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul Bolno sold 169,025 shares of Wave Life Sciences stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the completion of the transaction, the chief executive officer now owns 338,351 shares of the company’s stock, valued at $3,238,019.07. This represents a 33.31 % decrease in their position. The disclosure for this sale can be found here. 29.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Wave Life Sciences

A number of large investors have recently modified their holdings of WVE. Charles Schwab Investment Management Inc. grew its stake in shares of Wave Life Sciences by 209.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 844,617 shares of the company’s stock worth $6,926,000 after purchasing an additional 571,345 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Wave Life Sciences by 20.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 168,141 shares of the company’s stock worth $1,379,000 after acquiring an additional 28,351 shares in the last quarter. FMR LLC increased its holdings in shares of Wave Life Sciences by 174.5% in the 3rd quarter. FMR LLC now owns 1,540,190 shares of the company’s stock valued at $12,630,000 after acquiring an additional 979,110 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Wave Life Sciences by 477.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 41,828 shares of the company’s stock valued at $343,000 after acquiring an additional 34,588 shares during the last quarter. Finally, State Street Corp raised its position in shares of Wave Life Sciences by 2.6% during the 3rd quarter. State Street Corp now owns 2,321,248 shares of the company’s stock worth $19,034,000 after acquiring an additional 57,822 shares in the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

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.