According to Zacks, “WAVE Life Sciences Pte. Ltd. is a preclinical biopharmaceutical company. It designs, develops and commercializes nucleic acid therapeutic candidates for Huntington’s disease, Duchenne muscular dystrophy and inflammatory bowel disease. Huntington’s disease, the Company has programs targeting HTT SNP-1 and HTT SNP-2; DMD, targeting Exon 51 and in IBD, it is targeting SMAD7. The Company has late-stage discovery programs in epidermolysis bullosa simplex, in which it is targeting KRT14 SNP-1 and KRT14 SNP-2 and in DMD, it is focused on an additional DMD target, Activin Receptor type IIb. WAVE Life Sciences Pte. Ltd. is based in Singapore. “
WVE has been the topic of a number of other research reports. Cowen restated a “hold” rating on shares of Wave Life Sciences in a report on Tuesday. SunTrust Banks reduced their price target on Wave Life Sciences to $39.00 and set a “buy” rating on the stock in a report on Monday, May 20th. ValuEngine downgraded Wave Life Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. BidaskClub downgraded Wave Life Sciences from a “sell” rating to a “strong sell” rating in a report on Saturday, July 13th. Finally, Stifel Nicolaus downgraded Wave Life Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $50.80.
Wave Life Sciences (NASDAQ:WVE) last released its earnings results on Monday, July 29th. The company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.11). Wave Life Sciences had a negative net margin of 861.41% and a negative return on equity of 128.71%. The company had revenue of $7.63 million during the quarter, compared to the consensus estimate of $15.76 million. As a group, research analysts anticipate that Wave Life Sciences will post -5.45 earnings per share for the current fiscal year.
In other Wave Life Sciences news, insider Michael A. Panzara sold 3,058 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $26.94, for a total transaction of $82,382.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 39.70% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in shares of Wave Life Sciences by 4.0% in the fourth quarter. Bank of New York Mellon Corp now owns 72,642 shares of the company’s stock valued at $3,054,000 after acquiring an additional 2,768 shares during the period. Citigroup Inc. lifted its position in Wave Life Sciences by 189.4% in the fourth quarter. Citigroup Inc. now owns 2,807 shares of the company’s stock worth $118,000 after purchasing an additional 1,837 shares during the period. Geode Capital Management LLC lifted its position in Wave Life Sciences by 8.8% in the fourth quarter. Geode Capital Management LLC now owns 193,595 shares of the company’s stock worth $8,138,000 after purchasing an additional 15,664 shares during the period. Bank of America Corp DE lifted its position in Wave Life Sciences by 220.1% in the fourth quarter. Bank of America Corp DE now owns 11,266 shares of the company’s stock worth $473,000 after purchasing an additional 7,746 shares during the period. Finally, Amundi Pioneer Asset Management Inc. lifted its position in Wave Life Sciences by 45.0% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,900 shares of the company’s stock worth $122,000 after purchasing an additional 900 shares during the period. Hedge funds and other institutional investors own 85.68% of the company’s stock.
About Wave Life Sciences
Wave Life Sciences Ltd., a clinical stage genetic medicine company, designs, optimizes, and produces of novel stereopure oligonucleotides through PRISM, a discovery and drug developing platform. The company is primarily developing oligonucleotides that target genetic defects to either reduce the expression of disease-promoting proteins or transform the production of dysfunctional mutant proteins into the production of functional proteins.
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