Wave Life Sciences’ (WVE) “Buy” Rating Reaffirmed at HC Wainwright

Wave Life Sciences (NASDAQ:WVE)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research note issued on Thursday, Benzinga reports. They presently have a $22.00 price objective on the stock. HC Wainwright’s target price would suggest a potential upside of 59.07% from the stock’s previous close.

Several other equities analysts have also issued reports on the stock. Royal Bank of Canada lifted their target price on shares of Wave Life Sciences from $7.00 to $15.00 and gave the company a “sector perform” rating in a report on Monday, October 21st. Wells Fargo & Company boosted their target price on Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Leerink Partners increased their target price on Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. B. Riley lifted their price target on Wave Life Sciences from $11.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.44.

Wave Life Sciences Trading Up 0.9 %

WVE opened at $13.83 on Thursday. The company has a market cap of $1.73 billion, a price-to-earnings ratio of -24.05 and a beta of -1.10. The stock has a fifty day simple moving average of $8.71 and a two-hundred day simple moving average of $6.77. Wave Life Sciences has a 12-month low of $3.50 and a 12-month high of $15.92.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.09). Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. The business had revenue of $19.69 million during the quarter, compared to the consensus estimate of $24.80 million. During the same quarter in the previous year, the business earned ($0.20) earnings per share. On average, analysts predict that Wave Life Sciences will post -1.01 EPS for the current year.

Insider Buying and Selling at Wave Life Sciences

In related news, CEO Paul Bolno sold 90,474 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $15.00, for a total value of $1,357,110.00. Following the sale, the chief executive officer now owns 268,585 shares in the company, valued at approximately $4,028,775. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Kyle Moran sold 17,146 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the transaction, the chief financial officer now owns 19,777 shares in the company, valued at $177,993. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Paul Bolno sold 90,474 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $15.00, for a total transaction of $1,357,110.00. Following the completion of the transaction, the chief executive officer now directly owns 268,585 shares in the company, valued at approximately $4,028,775. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 364,822 shares of company stock worth $4,645,768. Company insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Emerald Advisers LLC bought a new position in shares of Wave Life Sciences in the second quarter worth about $12,441,000. Emerald Mutual Fund Advisers Trust bought a new stake in Wave Life Sciences during the 2nd quarter worth approximately $9,086,000. Artal Group S.A. lifted its holdings in Wave Life Sciences by 34.7% during 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 in the last quarter. Ikarian Capital LLC bought a new position in shares of Wave Life Sciences in the first quarter worth approximately $3,641,000. Finally, Vanguard Group Inc. increased its stake in shares of Wave Life Sciences by 39.7% in the first quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock worth $11,316,000 after purchasing an additional 521,665 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors.

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.