Wave Life Sciences (NASDAQ:WVE) Rating Increased to Hold at StockNews.com

Wave Life Sciences (NASDAQ:WVE) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other brokerages have also recently commented on WVE. Truist Financial boosted their price objective on shares of Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Jefferies Financial Group began coverage on shares of Wave Life Sciences in a research report on Tuesday, February 25th. They set a “buy” rating and a $26.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a report on Wednesday. Finally, Mizuho lifted their price objective on Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.60.

Wave Life Sciences Price Performance

Shares of WVE stock opened at $9.40 on Friday. Wave Life Sciences has a 1 year low of $4.25 and a 1 year high of $16.74. The company’s fifty day simple moving average is $11.44 and its two-hundred day simple moving average is $11.21. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -8.47 and a beta of -1.09.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data 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. The business had revenue of $83.75 million for the quarter, compared to analysts’ expectations of $25.60 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. Equities research analysts anticipate that Wave Life Sciences will post -1.14 EPS for the current year.

Insider Buying and Selling at Wave Life Sciences

In other Wave Life Sciences news, CEO Paul Bolno sold 169,025 shares of the 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 transaction, the chief executive officer now directly owns 338,351 shares in the company, valued at $3,238,019.07. This trade represents a 33.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

A number of institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. raised its position in Wave Life Sciences by 16.6% in the 4th quarter. Victory Capital Management Inc. now owns 14,546 shares of the company’s stock worth $180,000 after purchasing an additional 2,073 shares during the period. Summit Investment Advisors Inc. increased its holdings in shares of Wave Life Sciences by 31.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company’s stock worth $119,000 after buying an additional 2,308 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Wave Life Sciences in the fourth quarter worth about $40,000. Kraematon Investment Advisors Inc. lifted its stake in shares of Wave Life Sciences by 24.3% in the 4th quarter. Kraematon Investment Advisors Inc. now owns 19,885 shares of the company’s stock valued at $246,000 after acquiring an additional 3,885 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in Wave Life Sciences by 36.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 15,579 shares of the company’s stock valued at $193,000 after acquiring an additional 4,120 shares during the period. Hedge funds and other institutional investors 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.