Wave Life Sciences’ (WVE) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Wave Life Sciences (NASDAQ:WVE) in a research note released on Wednesday,Benzinga reports. They currently have a $22.00 price target on the stock. HC Wainwright also issued estimates for Wave Life Sciences’ FY2028 earnings at $1.27 EPS.

WVE has been the subject of a number of other reports. Leerink Partners upped their price objective on shares of Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price objective on shares of Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Raymond James upgraded Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $13.00 to $22.00 in a report on Wednesday, October 16th. Royal Bank of Canada lifted their price target on Wave Life Sciences from $7.00 to $15.00 and gave the company a “sector perform” rating in a report on Monday, October 21st. Finally, B. Riley upped their price objective on Wave Life Sciences from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.89.

Wave Life Sciences Stock Down 8.9 %

Shares of NASDAQ:WVE opened at $13.67 on Wednesday. The firm has a fifty day simple moving average of $10.76 and a two-hundred day simple moving average of $7.52. The stock has a market capitalization of $1.71 billion, a P/E ratio of -12.32 and a beta of -1.20. Wave Life Sciences has a 52 week low of $3.50 and a 52 week high of $16.74.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly 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 280.57%. The company had revenue of ($7.68) million for the quarter, compared to analysts’ expectations of $15.45 million. On average, analysts expect that Wave Life Sciences will post -1.06 earnings per share for the current year.

Insider Activity

In other news, major shareholder Plc Gsk purchased 2,791,930 shares of the company’s stock in a transaction on Friday, September 27th. The shares were acquired at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the purchase, the insider now owns 16,775,691 shares in the company, valued at $134,205,528. This trade represents a 19.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Francis sold 208,836 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $13.67, for a total value of $2,854,788.12. The disclosure for this sale can be found here. Insiders have sold a total of 452,056 shares of company stock worth $5,955,438 over the last 90 days. 29.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Wave Life Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in WVE. Maverick Capital Ltd. boosted its holdings in Wave Life Sciences by 31.0% in the third quarter. Maverick Capital Ltd. now owns 10,047,520 shares of the company’s stock valued at $82,390,000 after purchasing an additional 2,378,159 shares during the last quarter. Artal Group S.A. grew its position 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 valued at $24,997,000 after purchasing an additional 1,044,000 shares during the period. Emerald Advisers LLC raised its position in shares of Wave Life Sciences by 15.6% during the 3rd quarter. Emerald Advisers LLC now owns 2,881,510 shares of the company’s stock worth $23,628,000 after purchasing an additional 388,280 shares during the last quarter. State Street Corp lifted its stake in Wave Life Sciences by 2.6% in the 3rd quarter. State Street Corp now owns 2,321,248 shares of the company’s stock valued at $19,034,000 after buying an additional 57,822 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its holdings in Wave Life Sciences by 16.6% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 2,123,466 shares of the company’s stock worth $17,412,000 after buying an additional 302,528 shares during the last quarter. 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.