Mizuho Reaffirms “Outperform” Rating for Wave Life Sciences (NASDAQ:WVE)

Wave Life Sciences (NASDAQ:WVEGet Free Report)‘s stock had its “outperform” rating reiterated by stock analysts at Mizuho in a research note issued on Tuesday, Benzinga reports. They presently have a $19.00 price objective on the stock. Mizuho’s price objective would indicate a potential upside of 289.34% from the company’s previous close.

A number of other research analysts also recently issued reports on WVE. Truist Financial reissued a “buy” rating and issued a $17.00 price target on shares of Wave Life Sciences in a report on Monday, April 1st. Royal Bank of Canada reissued a “sector perform” rating and issued a $5.00 price target on shares of Wave Life Sciences in a report on Thursday, March 7th. Wells Fargo & Company began coverage on Wave Life Sciences in a report on Wednesday, May 15th. They issued an “overweight” rating and a $11.00 price target for the company. HC Wainwright upped their target price on Wave Life Sciences from $8.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Finally, StockNews.com downgraded Wave Life Sciences from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.29.

View Our Latest Stock Analysis on Wave Life Sciences

Wave Life Sciences Trading Down 6.3 %

Shares of WVE stock traded down $0.33 during trading hours on Tuesday, reaching $4.88. 10,357,599 shares of the company’s stock were exchanged, compared to its average volume of 839,588. Wave Life Sciences has a 1 year low of $3.45 and a 1 year high of $7.67. The stock has a market cap of $597.60 million, a PE ratio of -9.38 and a beta of -1.03. The stock’s fifty day moving average price is $5.73 and its two-hundred day moving average price is $5.31.

Wave Life Sciences (NASDAQ:WVEGet Free Report) last issued its earnings results on Thursday, May 9th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The company had revenue of $12.54 million during the quarter, compared to analysts’ expectations of $25.67 million. During the same quarter in the prior year, the company posted ($0.27) EPS. On average, equities analysts expect that Wave Life Sciences will post -0.85 EPS for the current fiscal year.

Insider Transactions at Wave Life Sciences

In related news, CFO Kyle Moran sold 15,630 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $6.17, for a total transaction of $96,437.10. Following the transaction, the chief financial officer now owns 33,921 shares in the company, valued at approximately $209,292.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 31.10% of the company’s stock.

Hedge Funds Weigh In On Wave Life Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of WVE. Artal Group S.A. raised its holdings in shares of Wave Life Sciences by 34.7% in the first quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock worth $24,997,000 after acquiring an additional 1,044,000 shares during the last quarter. Ikarian Capital LLC acquired a new position in Wave Life Sciences in the first quarter valued at $3,641,000. Jacobs Levy Equity Management Inc. grew its position in Wave Life Sciences by 13.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 241,860 shares of the company’s stock valued at $1,492,000 after acquiring an additional 29,483 shares during the period. Price T Rowe Associates Inc. MD grew its position in Wave Life Sciences by 14.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,861,254 shares of the company’s stock valued at $11,485,000 after acquiring an additional 233,891 shares during the period. Finally, Affinity Asset Advisors LLC purchased a new stake in Wave Life Sciences during the first quarter valued at about $1,768,000. 89.73% of the stock is owned by institutional investors and hedge funds.

About Wave Life Sciences

(Get Free Report)

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.

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