Wave Life Sciences (NASDAQ:WVE) Now Covered by Analysts at Wedbush

Research analysts at Wedbush began coverage on shares of Wave Life Sciences (NASDAQ:WVE) in a report issued on Tuesday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $18.00 price target on the stock. Wedbush’s price target points to a potential upside of 198.01% from the stock’s current price.

WVE has been the topic of a number of other research reports. StockNews.com raised Wave Life Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price target on shares of Wave Life Sciences in a research note on Wednesday, March 26th. Finally, Jefferies Financial Group assumed coverage on shares of Wave Life Sciences in a research report on Tuesday, February 25th. They issued a “buy” rating and a $26.00 price objective for the company. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.18.

Wave Life Sciences Trading Up 4.1 %

Shares of WVE stock traded up $0.24 during mid-day trading on Tuesday, reaching $6.04. The stock had a trading volume of 257,160 shares, compared to its average volume of 1,158,470. Wave Life Sciences has a 12-month low of $4.25 and a 12-month high of $16.74. The business has a 50-day simple moving average of $10.17 and a 200 day simple moving average of $11.77. The company has a market cap of $927.06 million, a P/E ratio of -5.46 and a beta of -0.93.

Wave Life Sciences (NASDAQ:WVE) last announced its earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.34. 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 $83.75 million during the quarter, compared to analysts’ expectations of $25.60 million. Research analysts anticipate that Wave Life Sciences will post -1.14 EPS for the current year.

Insider Buying and Selling

In other Wave Life Sciences news, CEO Paul Bolno sold 169,025 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the completion of the sale, the chief executive officer now directly owns 338,351 shares in the company, valued at $3,238,019.07. The trade was a 33.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christian O. Henry sold 10,500 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $9.77, for a total transaction of $102,585.00. Following the completion of the transaction, the director now directly owns 16,115 shares in the company, valued at approximately $157,443.55. This represents a 39.45 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

Large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its holdings in Wave Life Sciences by 209.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,617 shares of the company’s stock valued at $6,926,000 after purchasing an additional 571,345 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Wave Life Sciences by 20.3% during the third quarter. The Manufacturers Life Insurance Company now owns 168,141 shares of the company’s stock valued at $1,379,000 after acquiring an additional 28,351 shares in the last quarter. FMR LLC increased its position in shares of Wave Life Sciences by 174.5% during the third quarter. FMR LLC now owns 1,540,190 shares of the company’s stock worth $12,630,000 after acquiring an additional 979,110 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Wave Life Sciences by 477.7% during the third quarter. BNP Paribas Financial Markets now owns 41,828 shares of the company’s stock worth $343,000 after acquiring an additional 34,588 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Wave Life Sciences by 2.6% in the third quarter. State Street Corp now owns 2,321,248 shares of the company’s stock worth $19,034,000 after acquiring an additional 57,822 shares in the last quarter. 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.