Wave Life Sciences (NASDAQ:WVE) Stock Rating Lowered by StockNews.com

Wave Life Sciences (NASDAQ:WVE) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Wednesday.

Several other research firms also recently weighed in on WVE. HC Wainwright reissued a “buy” rating and set a $22.00 price objective on shares of Wave Life Sciences in a report on Wednesday. Truist Financial boosted their price target on Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. upped their price objective on Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $13.00 to $22.00 in a research report on Wednesday, October 16th. Finally, Leerink Partners boosted their target price on shares of Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.89.

Wave Life Sciences Price Performance

NASDAQ WVE opened at $15.00 on Wednesday. Wave Life Sciences has a fifty-two week low of $3.50 and a fifty-two week high of $16.74. The business has a fifty day moving average price of $10.40 and a two-hundred day moving average price of $7.41. The stock has a market capitalization of $1.87 billion, a PE ratio of -13.54 and a beta of -1.20.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.19). The business had revenue of ($7.68) million during the quarter, compared to analyst estimates of $15.45 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 694.73%. As a group, sell-side analysts expect that Wave Life Sciences will post -1.01 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Chris Francis sold 36,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $16.00, for a total transaction of $576,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Paul Bolno sold 48,366 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total value of $279,555.48. Following the completion of the transaction, the chief executive officer now owns 359,059 shares in the company, valued at approximately $2,075,361.02. The trade was a 11.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 400,822 shares of company stock valued at $5,221,768 over the last 90 days. Company insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Wave Life Sciences

Hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Wave Life Sciences by 23.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock worth $37,000 after acquiring an additional 856 shares in the last quarter. Mackenzie Financial Corp grew its position in Wave Life Sciences by 13.6% in the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after purchasing an additional 1,905 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in Wave Life Sciences by 50.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after buying an additional 2,451 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Wave Life Sciences by 3.4% during the 2nd quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock worth $628,000 after buying an additional 4,092 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of Wave Life Sciences by 2.7% in the 1st quarter. Swiss National Bank now owns 156,500 shares of the company’s stock worth $966,000 after buying an additional 4,100 shares during the last quarter. 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.