Wave Life Sciences (NASDAQ:WVE) Earns Overweight Rating from Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Wave Life Sciences (NASDAQ:WVEFree Report) in a report released on Wednesday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $11.00 target price on the stock.

WVE has been the topic of several other research reports. Royal Bank of Canada reaffirmed a sector perform rating and set a $5.00 price objective on shares of Wave Life Sciences in a research report on Thursday, March 7th. HC Wainwright lifted their price objective on shares of Wave Life Sciences from $8.00 to $15.00 and gave the company a buy rating in a research note on Thursday, March 7th. Truist Financial reissued a buy rating and set a $17.00 target price on shares of Wave Life Sciences in a research report on Monday, April 1st. Finally, StockNews.com lowered Wave Life Sciences from a buy rating to a hold rating in a report on Friday, May 10th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Wave Life Sciences presently has a consensus rating of Moderate Buy and an average price target of $10.25.

Read Our Latest Analysis on Wave Life Sciences

Wave Life Sciences Stock Up 6.1 %

Shares of NASDAQ:WVE opened at $6.26 on Wednesday. The firm has a fifty day moving average of $5.76 and a two-hundred day moving average of $5.21. Wave Life Sciences has a 12-month low of $3.15 and a 12-month high of $7.67. The firm has a market capitalization of $766.60 million, a P/E ratio of -12.04 and a beta of -0.99.

Wave Life Sciences (NASDAQ:WVEGet Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.24) earnings per share (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 period last year, the firm posted ($0.27) earnings per share. Equities research analysts expect that Wave Life Sciences will post -0.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Kyle Moran sold 15,630 shares of Wave Life Sciences stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $6.17, for a total transaction of $96,437.10. Following the completion of the transaction, the chief financial officer now directly owns 33,921 shares of the company’s stock, valued at approximately $209,292.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 31.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. raised its stake in shares of Wave Life Sciences by 351.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,456 shares of the company’s stock worth $58,000 after acquiring an additional 8,920 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Wave Life Sciences by 33.6% during the fourth quarter. SG Americas Securities LLC now owns 34,562 shares of the company’s stock valued at $175,000 after purchasing an additional 8,694 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Wave Life Sciences by 461.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,335 shares of the company’s stock valued at $57,000 after purchasing an additional 9,316 shares in the last quarter. Wellington Management Group LLP raised its position in Wave Life Sciences by 4.3% in the 3rd quarter. Wellington Management Group LLP now owns 264,885 shares of the company’s stock worth $1,523,000 after purchasing an additional 10,830 shares during the last quarter. Finally, Newtyn Management LLC lifted its holdings in Wave Life Sciences by 2.0% during the 3rd quarter. Newtyn Management LLC now owns 510,000 shares of the company’s stock worth $2,932,000 after buying an additional 10,000 shares in the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.

Wave Life Sciences Company Profile

(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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Analyst Recommendations for Wave Life Sciences (NASDAQ:WVE)

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