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

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) have earned an average recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $20.2667.

WVE has been the topic of several research analyst reports. Cantor Fitzgerald started coverage on WAVE Life Sciences in a report on Tuesday, April 29th. They issued an “overweight” rating and a $10.00 price objective on the stock. Raymond James Financial initiated coverage on shares of WAVE Life Sciences in a research report on Wednesday, June 11th. They set an “outperform” rating and a $14.00 price target on the stock. Oppenheimer began coverage on shares of WAVE Life Sciences in a report on Monday, July 28th. They issued an “outperform” rating and a $24.00 price objective for the company. Wall Street Zen downgraded shares of WAVE Life Sciences from a “hold” rating to a “sell” rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company decreased their price target on shares of WAVE Life Sciences from $24.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, July 31st.

WAVE Life Sciences Stock Performance

WVE opened at $8.75 on Thursday. The stock has a market capitalization of $1.39 billion, a PE ratio of -9.72 and a beta of -0.95. WAVE Life Sciences has a one year low of $5.04 and a one year high of $16.74. The business’s 50 day moving average price is $7.27 and its 200 day moving average price is $8.25.

WAVE Life Sciences (NASDAQ:WVE) last posted its quarterly earnings data on Wednesday, July 30th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.02). The company had revenue of $8.70 million for the quarter, compared to analysts’ expectations of $11.52 million. As a group, equities research analysts forecast that WAVE Life Sciences will post -1.14 earnings per share for the current fiscal year.

Insider Transactions at WAVE Life Sciences

In other WAVE Life Sciences news, Director Gregory L. Verdine sold 30,000 shares of WAVE Life Sciences stock in a transaction on Friday, June 13th. The shares were sold at an average price of $6.95, for a total value of $208,500.00. Following the transaction, the director directly owned 282,517 shares in the company, valued at approximately $1,963,493.15. The trade was a 9.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 23.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On WAVE Life Sciences

Several institutional investors have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. lifted its position in WAVE Life Sciences by 30.1% in the first quarter. Adage Capital Partners GP L.L.C. now owns 12,516,500 shares of the company’s stock valued at $101,133,000 after purchasing an additional 2,894,396 shares during the period. Driehaus Capital Management LLC lifted its holdings in shares of WAVE Life Sciences by 14.6% in the 4th quarter. Driehaus Capital Management LLC now owns 6,712,449 shares of the company’s stock valued at $83,033,000 after buying an additional 853,589 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of WAVE Life Sciences by 63.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,098,866 shares of the company’s stock valued at $63,074,000 after buying an additional 1,972,262 shares in the last quarter. 683 Capital Management LLC grew its holdings in WAVE Life Sciences by 3.7% during the first quarter. 683 Capital Management LLC now owns 3,925,000 shares of the company’s stock worth $31,714,000 after acquiring an additional 140,000 shares during the period. Finally, Emerald Advisers LLC grew its holdings in WAVE Life Sciences by 3.9% during the second quarter. Emerald Advisers LLC now owns 3,257,119 shares of the company’s stock worth $21,171,000 after acquiring an additional 123,561 shares during the period. Institutional investors and hedge funds 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.