Wave Life Sciences (NASDAQ:WVE) Stock Rating Upgraded by StockNews.com

Wave Life Sciences (NASDAQ:WVE) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other research analysts also recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a research note on Wednesday, March 5th. Jefferies Financial Group assumed coverage on Wave Life Sciences in a research note on Tuesday, February 25th. They set a “buy” rating and a $26.00 target price on the stock. Mizuho raised their price target on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Truist Financial raised their price target on shares of Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.60.

Wave Life Sciences Stock Down 7.7 %

WVE stock opened at $9.40 on Friday. Wave Life Sciences has a twelve month low of $4.25 and a twelve month high of $16.74. The stock has a 50-day simple moving average of $11.44 and a two-hundred day simple moving average of $11.28. The firm has a market capitalization of $1.44 billion, a PE ratio of -8.47 and a beta of -1.04.

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

Insider Buying and Selling

In other news, CEO Paul Bolno sold 169,025 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $9.57, for a total value of $1,617,569.25. Following the completion of the sale, the chief executive officer now owns 338,351 shares in the company, valued at $3,238,019.07. This represents a 33.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

Institutional investors and hedge funds have recently modified their holdings of the stock. GF Fund Management CO. LTD. acquired a new stake in shares of Wave Life Sciences during the fourth quarter valued at approximately $40,000. Quarry LP purchased a new position in Wave Life Sciences during the 4th quarter worth approximately $62,000. KBC Group NV acquired a new stake in Wave Life Sciences during the 4th quarter valued at $67,000. Summit Investment Advisors Inc. lifted its holdings in shares of Wave Life Sciences by 31.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company’s stock valued at $119,000 after purchasing an additional 2,308 shares in the last quarter. Finally, Westwood Wealth Management acquired a new stake in shares of Wave Life Sciences in the fourth quarter worth $124,000. Institutional investors and hedge funds 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.