Wave Life Sciences (NASDAQ:WVE) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Wave Life Sciences (NASDAQ:WVE) in a research note issued to investors on Wednesday, Benzinga reports. HC Wainwright currently has a $15.00 price target on the stock.

Other equities analysts have also issued reports about the stock. Mizuho reissued an outperform rating and issued a $19.00 target price on shares of Wave Life Sciences in a report on Tuesday. StockNews.com lowered shares of Wave Life Sciences from a buy rating to a hold rating in a report on Friday, May 10th. Royal Bank of Canada reissued a sector perform rating and set a $5.00 target price on shares of Wave Life Sciences in a report on Thursday, March 7th. Wells Fargo & Company began coverage on shares of Wave Life Sciences in a report on Wednesday, May 15th. They set an overweight rating and a $11.00 target price on the stock. Finally, Truist Financial reissued a buy rating and set a $17.00 target price on shares of Wave Life Sciences in a report on Monday, April 1st. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $12.29.

Wave Life Sciences Stock Performance

NASDAQ WVE opened at $4.38 on Wednesday. The firm has a 50-day moving average of $5.72 and a 200-day moving average of $5.30. The stock has a market cap of $535.81 million, a PE ratio of -8.41 and a beta of -1.03. Wave Life Sciences has a 52-week low of $3.45 and a 52-week high of $7.67.

Wave Life Sciences (NASDAQ:WVE) last posted its earnings results 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 firm had revenue of $12.54 million for the quarter, compared to the consensus estimate of $25.67 million. During the same period in the previous year, the company posted ($0.27) EPS. As a group, analysts predict that Wave Life Sciences will post -0.85 EPS for the current fiscal year.

Insider Transactions at Wave Life Sciences

In related news, CFO Kyle Moran sold 15,630 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $6.17, for a total transaction of $96,437.10. Following the transaction, the chief financial officer now owns 33,921 shares in the company, valued at approximately $209,292.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 31.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Artal Group S.A. raised 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 worth $24,997,000 after buying an additional 1,044,000 shares during the last quarter. Ikarian Capital LLC bought a new stake in shares of Wave Life Sciences in the 1st quarter worth $3,641,000. Jacobs Levy Equity Management Inc. grew its stake in shares of Wave Life Sciences by 13.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 241,860 shares of the company’s stock worth $1,492,000 after acquiring an additional 29,483 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Wave Life Sciences by 14.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,861,254 shares of the company’s stock worth $11,485,000 after acquiring an additional 233,891 shares in the last quarter. Finally, Affinity Asset Advisors LLC bought a new stake in shares of Wave Life Sciences in the 1st quarter worth $1,768,000. Institutional investors and hedge funds own 89.73% of the company’s stock.

About Wave Life Sciences

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.