Wave Life Sciences (WVE) PT Lowered to $39.00 at SunTrust Banks

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Wave Life Sciences (NASDAQ:WVE) had its price objective cut by SunTrust Banks to $39.00 in a research report released on Monday morning, The Fly reports. They currently have a buy rating on the stock.

A number of other brokerages also recently commented on WVE. HC Wainwright reissued a buy rating and set a $33.00 price objective (down from $49.00) on shares of Wave Life Sciences in a research report on Wednesday, April 17th. Stifel Nicolaus downgraded Wave Life Sciences from a buy rating to a hold rating in a research report on Tuesday, April 16th. BidaskClub downgraded Wave Life Sciences from a hold rating to a sell rating in a report on Saturday, March 30th. ValuEngine raised Wave Life Sciences from a hold rating to a buy rating in a report on Saturday, February 2nd. Finally, Zacks Investment Research downgraded Wave Life Sciences from a hold rating to a sell rating in a report on Saturday, March 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $50.80.

Shares of Wave Life Sciences stock opened at $24.19 on Monday. Wave Life Sciences has a one year low of $22.90 and a one year high of $56.00. The stock has a market cap of $858.22 million, a PE ratio of -4.78 and a beta of 0.56. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.39 and a quick ratio of 2.39.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Friday, May 10th. The company reported ($1.36) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.19) by ($0.17). Wave Life Sciences had a negative return on equity of 120.60% and a negative net margin of 971.48%. The company had revenue of $3.03 million for the quarter, compared to analyst estimates of $9.66 million. On average, sell-side analysts predict that Wave Life Sciences will post -4.23 earnings per share for the current year.

In related news, insider Paul Bolno sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $45.48, for a total value of $2,274,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael A. Panzara sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $48.00, for a total value of $336,000.00. The disclosure for this sale can be found here. Corporate insiders own 44.20% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in WVE. Quantamental Technologies LLC acquired a new stake in shares of Wave Life Sciences in the fourth quarter valued at approximately $29,000. Citigroup Inc. boosted its holdings in shares of Wave Life Sciences by 189.4% in the fourth quarter. Citigroup Inc. now owns 2,807 shares of the company’s stock valued at $118,000 after acquiring an additional 1,837 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of Wave Life Sciences by 17.9% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,045 shares of the company’s stock valued at $118,000 after acquiring an additional 462 shares during the period. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Wave Life Sciences by 45.0% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,900 shares of the company’s stock valued at $122,000 after acquiring an additional 900 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Wave Life Sciences by 17.9% in the fourth quarter. Legal & General Group Plc now owns 3,094 shares of the company’s stock valued at $130,000 after acquiring an additional 469 shares during the period. 78.20% of the stock is owned by hedge funds and other institutional investors.

About Wave Life Sciences

Wave Life Sciences Ltd., a clinical stage genetic medicine company, designs, optimizes, and produces of novel stereopure oligonucleotides through PRISM, a discovery and drug developing platform. The company is primarily developing oligonucleotides that target genetic defects to either reduce the expression of disease-promoting proteins or transform the production of dysfunctional mutant proteins into the production of functional proteins.

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