Wave Life Sciences (NASDAQ:WVE) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Wave Life Sciences (NASDAQ:WVE) in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a $22.00 price target on the stock.

A number of other equities research analysts have also issued reports on WVE. B. Riley increased their target price 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. Leerink Partners increased their price objective on Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Royal Bank of Canada boosted their target price on Wave Life Sciences from $7.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Monday, October 21st. Raymond James raised Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $13.00 to $22.00 in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.44.

Wave Life Sciences Trading Up 0.1 %

WVE stock traded up $0.02 during trading on Thursday, reaching $13.73. 148,831 shares of the stock were exchanged, compared to its average volume of 1,099,502. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -24.05 and a beta of -1.10. Wave Life Sciences has a 1 year low of $3.50 and a 1 year high of $15.92. The business has a 50 day moving average price of $8.71 and a 200-day moving average price of $6.77.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The company had revenue of $19.69 million during the quarter, compared to analysts’ expectations of $24.80 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. During the same quarter last year, the firm posted ($0.20) earnings per share. On average, research analysts anticipate that Wave Life Sciences will post -1.01 EPS for the current year.

Insider Activity

In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total transaction of $279,555.48. Following the completion of the sale, the chief executive officer now directly owns 359,059 shares of the company’s stock, valued at $2,075,361.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Chris Francis sold 208,836 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $13.67, for a total transaction of $2,854,788.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Paul Bolno sold 48,366 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total transaction of $279,555.48. Following the transaction, the chief executive officer now directly owns 359,059 shares of the company’s stock, valued at $2,075,361.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 364,822 shares of company stock valued at $4,645,768. Insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in Wave Life Sciences by 23.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock valued at $37,000 after buying an additional 856 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Wave Life Sciences by 50.2% in 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 period. Profund Advisors LLC purchased a new position in Wave Life Sciences in the 2nd quarter valued at approximately $53,000. Principal Financial Group Inc. acquired a new position in Wave Life Sciences during the second quarter worth $74,000. Finally, Mackenzie Financial Corp raised its holdings in Wave Life Sciences by 13.6% during the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after purchasing an additional 1,905 shares during 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.