StockNews.com Downgrades Wave Life Sciences (NASDAQ:WVE) to Sell

StockNews.com lowered shares of Wave Life Sciences (NASDAQ:WVE) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

A number of other research firms have also recently commented on WVE. Raymond James upgraded Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $13.00 to $22.00 in a research report on Wednesday, October 16th. Wells Fargo & Company raised their target price on shares of Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. B. Riley upped their target price on Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, November 4th. HC Wainwright reissued a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a research note on Wednesday. Finally, Leerink Partners lifted their price target on Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.89.

Wave Life Sciences Trading Down 1.3 %

WVE stock opened at $15.69 on Wednesday. The firm has a 50 day moving average of $10.40 and a 200-day moving average of $7.41. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -14.14 and a beta of -1.20. Wave Life Sciences has a 12-month low of $3.50 and a 12-month high of $16.74.

Wave Life Sciences (NASDAQ:WVE) last posted its earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.19). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 694.73%. The business had revenue of ($7.68) million for the quarter, compared to analysts’ expectations of $15.45 million. Sell-side analysts forecast that Wave Life Sciences will post -1.01 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Paul Bolno sold 48,366 shares of Wave Life Sciences stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total transaction of $279,555.48. Following the sale, the chief executive officer now owns 359,059 shares of the company’s stock, valued at $2,075,361.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Kyle Moran sold 17,146 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the completion of the sale, the chief financial officer now owns 19,777 shares of the company’s stock, valued at approximately $177,993. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the chief executive officer now owns 359,059 shares of the company’s stock, valued at $2,075,361.02. This trade 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 400,822 shares of company stock worth $5,221,768. 29.10% of the stock is currently owned by company insiders.

Institutional Trading of Wave Life Sciences

Several institutional investors have recently added to or reduced their stakes in the business. Artal Group S.A. lifted its position in shares of Wave Life Sciences by 34.7% in the 1st quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock worth $24,997,000 after buying an additional 1,044,000 shares during the last quarter. Emerald Advisers LLC lifted its holdings in Wave Life Sciences by 15.6% in the third quarter. Emerald Advisers LLC now owns 2,881,510 shares of the company’s stock worth $23,628,000 after acquiring an additional 388,280 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in Wave Life Sciences by 16.6% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 2,123,466 shares of the company’s stock valued at $17,412,000 after acquiring an additional 302,528 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Wave Life Sciences by 14.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,861,254 shares of the company’s stock worth $11,485,000 after purchasing an additional 233,891 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Wave Life Sciences by 39.7% in the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock worth $11,316,000 after purchasing an additional 521,665 shares during the last quarter. Institutional investors own 89.73% of the company’s stock.

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.