Wave Life Sciences Ltd. (NASDAQ:WVE) Receives Average Rating of “Buy” from Analysts

Wave Life Sciences Ltd. (NASDAQ:WVE) has earned an average rating of “Buy” from the twelve brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $21.17.

Several research firms recently issued reports on WVE. HC Wainwright reiterated a “buy” rating and issued a $22.00 price objective on shares of Wave Life Sciences in a report on Wednesday, March 26th. Wall Street Zen downgraded Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Friday, May 9th. Wedbush started coverage on Wave Life Sciences in a report on Tuesday, April 8th. They issued an “outperform” rating and a $18.00 price objective on the stock. Cantor Fitzgerald started coverage on Wave Life Sciences in a report on Tuesday, April 29th. They set an “overweight” rating and a $10.00 price target on the stock. Finally, Jefferies Financial Group started coverage on Wave Life Sciences in a report on Tuesday, February 25th. They set a “buy” rating and a $26.00 price target on the stock.

Insiders Place Their Bets

In other news, Director Christian O. Henry sold 10,500 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $9.77, for a total value of $102,585.00. Following the transaction, the director now owns 16,115 shares in the company, valued at approximately $157,443.55. This represents a 39.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 29.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new position in shares of Wave Life Sciences in the 4th quarter valued at about $40,000. Quarry LP purchased a new position in shares of Wave Life Sciences in the 4th quarter valued at about $62,000. KBC Group NV purchased a new position in shares of Wave Life Sciences in the 4th quarter valued at about $67,000. Knott David M Jr purchased a new position in shares of Wave Life Sciences in the 1st quarter valued at about $81,000. Finally, Ascent Group LLC purchased a new position in shares of Wave Life Sciences in the 1st quarter valued at about $83,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Wave Life Sciences Trading Up 2.6%

WVE stock opened at $7.23 on Wednesday. The company has a market capitalization of $1.11 billion, a PE ratio of -6.51 and a beta of -1.04. Wave Life Sciences has a 12-month low of $4.25 and a 12-month high of $16.74. The business’s fifty day moving average price is $6.44 and its 200 day moving average price is $9.91.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The firm had revenue of $9.18 million during the quarter, compared to analysts’ expectations of $11.65 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. During the same quarter in the prior year, the firm posted ($0.24) EPS. Research analysts predict that Wave Life Sciences will post -1.14 EPS for the current fiscal year.

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.