WAVE Life Sciences Ltd. (NASDAQ:WVE) Stock Has Consensus Target Price of $21.53 According to Analysts

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) have been assigned a consensus recommendation of “Moderate Buy” from the twenty analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $21.53.

Several equities research analysts have recently commented on the stock. Wall Street Zen cut shares of WAVE Life Sciences from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 1st. JPMorgan Chase & Co. started coverage on shares of WAVE Life Sciences in a research note on Wednesday, September 23rd. They set a “neutral” rating for the company. Wedbush set a $13.00 target price on WAVE Life Sciences in a report on Friday, October 2nd. LADENBURG THALM/SH SH initiated coverage on WAVE Life Sciences in a research report on Thursday, October 1st. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, B. Riley Financial dropped their price target on WAVE Life Sciences from $31.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, July 31st.

WAVE Life Sciences Stock Performance

WVE stock opened at $3.21 on Friday. The company has a market capitalization of $633.10 million, a PE ratio of -2.94 and a beta of -1.43. The company’s 50 day moving average price is $4.20 and its two-hundred day moving average price is $7.71. WAVE Life Sciences has a one year low of $3.04 and a one year high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last released its earnings results on Thursday, July 30th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). The company had revenue of $2.27 million during the quarter, compared to the consensus estimate of $7.45 million. WAVE Life Sciences had a negative net margin of 309.73% and a negative return on equity of 50.36%. On average, research analysts predict that WAVE Life Sciences will post -1.12 EPS for the current year.

Insider Activity

In other WAVE Life Sciences news, Director Adrian Rawcliffe sold 12,700 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $5.29, for a total value of $67,183.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Heidi L. Wagner sold 7,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $6.01, for a total value of $42,070.00. Following the transaction, the director directly owned 44,930 shares in the company, valued at $270,029.30. This represents a 13.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 23,564 shares of company stock valued at $132,476. 24.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On WAVE Life Sciences

Institutional investors have recently bought and sold shares of the business. Readystate Asset Management LP purchased a new position in shares of WAVE Life Sciences during the 2nd quarter valued at about $27,465,000. Squarepoint Ops LLC raised its stake in WAVE Life Sciences by 68.0% during the 2nd quarter. Squarepoint Ops LLC now owns 2,541,442 shares of the company’s stock valued at $14,766,000 after acquiring an additional 1,029,052 shares during the last quarter. Pictet Asset Management Holding SA raised its position in WAVE Life Sciences by 42.6% in the first quarter. Pictet Asset Management Holding SA now owns 1,149,127 shares of the company’s stock worth $8,202,000 after acquiring an additional 343,226 shares in the last quarter. Renaissance Technologies LLC increased its holdings in WAVE Life Sciences by 152.6% in the first quarter. Renaissance Technologies LLC now owns 597,220 shares of the company’s stock valued at $4,330,000 after buying an additional 360,800 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of WAVE Life Sciences by 12.4% during the 1st quarter. Bank of New York Mellon Corp now owns 361,204 shares of the company’s stock worth $2,619,000 after buying an additional 39,759 shares during the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

About WAVE Life Sciences

WAVE Life Sciences Ltd. (NASDAQ: WVE) is a biotechnology company focused on developing medicines that act on RNA, a molecule involved in translating genetic information into proteins. The company uses its proprietary chemistry and drug-design technologies to create oligonucleotide therapeutics intended to selectively modify RNA and address the underlying causes of genetic diseases.

Its research programs have included RNA editing and RNA-targeting approaches for conditions such as alpha-1 antitrypsin deficiency, Duchenne muscular dystrophy and other serious genetic disorders.