Wave Life Sciences (NASDAQ:WVE) Stock Rating Reaffirmed by HC Wainwright

Wave Life Sciences (NASDAQ:WVE)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research report issued on Thursday, Benzinga reports. They presently have a $22.00 price objective on the stock. HC Wainwright’s price objective indicates a potential upside of 43.70% from the company’s previous close.

WVE has been the topic of a number of other research reports. Raymond James raised Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $13.00 to $22.00 in a research report on Wednesday. JPMorgan Chase & Co. initiated coverage on Wave Life Sciences in a research report on Friday, September 27th. They set an “overweight” rating and a $13.00 price objective on the stock. Mizuho reaffirmed an “outperform” rating and set a $19.00 price objective on shares of Wave Life Sciences in a research report on Tuesday, June 25th. Leerink Partners raised their price objective on Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, B. Riley raised their price objective on Wave Life Sciences from $11.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Wave Life Sciences has an average rating of “Moderate Buy” and an average price target of $18.56.

Wave Life Sciences Trading Up 4.8 %

WVE opened at $15.31 on Thursday. Wave Life Sciences has a 12-month low of $3.50 and a 12-month high of $15.92. The business’s fifty day simple moving average is $7.10 and its 200-day simple moving average is $6.22. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -29.44 and a beta of -1.10.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $19.69 million for the quarter, compared to the consensus estimate of $24.80 million. During the same period in the previous year, the company posted ($0.20) EPS. On average, equities research analysts predict that Wave Life Sciences will post -1.02 EPS for the current year.

Insiders Place Their Bets

In other news, insider Chris Francis sold 208,836 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $13.67, for a total value of $2,854,788.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Paul Bolno sold 48,366 shares of Wave Life Sciences stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total transaction of $279,555.48. Following the completion of the transaction, the chief executive officer now directly owns 359,059 shares in the company, valued at approximately $2,075,361.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Francis sold 208,836 shares of Wave Life Sciences stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $13.67, for a total value of $2,854,788.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 364,822 shares of company stock valued at $4,645,768. 29.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new stake in shares of Wave Life Sciences in the fourth quarter valued at approximately $174,000. Wellington Management Group LLP increased its position in shares of Wave Life Sciences by 3.5% in the fourth quarter. Wellington Management Group LLP now owns 274,093 shares of the company’s stock valued at $1,384,000 after buying an additional 9,208 shares in the last quarter. Capstone Investment Advisors LLC increased its position in shares of Wave Life Sciences by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 54,500 shares of the company’s stock valued at $336,000 after buying an additional 4,500 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Wave Life Sciences in the first quarter valued at approximately $586,000. Finally, Swiss National Bank increased its position in shares of Wave Life Sciences by 2.7% in the first quarter. Swiss National Bank now owns 156,500 shares of the company’s stock valued at $966,000 after buying an additional 4,100 shares in the last quarter. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

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.