Wave Life Sciences (NASDAQ:WVE) Now Covered by Raymond James

Research analysts at Raymond James assumed coverage on shares of Wave Life Sciences (NASDAQ:WVE) in a report released on Wednesday. The brokerage set an “outperform” rating and a $14.00 price target on the stock. Raymond James’ target price would indicate a potential upside of 92.44% from the company’s current price.

A number of other equities research analysts also recently commented on WVE. HC Wainwright restated a “buy” rating and issued a $22.00 price objective on shares of Wave Life Sciences in a research report on Wednesday, March 26th. Cantor Fitzgerald started coverage on shares of Wave Life Sciences in a report on Tuesday, April 29th. They set an “overweight” rating and a $10.00 target price on the stock. Wedbush began coverage on shares of Wave Life Sciences in a research note on Tuesday, April 8th. They set an “outperform” rating and a $18.00 price target on the stock. Jefferies Financial Group initiated 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 objective for the company. Finally, Wall Street Zen lowered shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Wave Life Sciences has an average rating of “Moderate Buy” and an average target price of $20.50.

Wave Life Sciences Trading Up 0.6%

Shares of WVE traded up $0.05 during midday trading on Wednesday, hitting $7.28. 106,445 shares of the company’s stock traded hands, compared to its average volume of 1,310,986. Wave Life Sciences has a 1 year low of $4.25 and a 1 year high of $16.74. The firm’s fifty day moving average is $6.44 and its 200-day moving average is $9.91. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -6.54 and a beta of -1.04.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. The company had revenue of $9.18 million for the quarter, compared to analyst estimates of $11.65 million. During the same quarter in the prior year, the company posted ($0.24) earnings per share. On average, equities research analysts anticipate that Wave Life Sciences will post -1.14 EPS for the current year.

Insider Activity

In related news, Director Christian O. Henry sold 10,500 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $9.77, for a total value of $102,585.00. Following the sale, the director now directly owns 16,115 shares of the company’s stock, valued at approximately $157,443.55. The trade was a 39.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 29.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wave Life Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in WVE. Adage Capital Partners GP L.L.C. raised its holdings in shares of Wave Life Sciences by 30.1% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 12,516,500 shares of the company’s stock valued at $101,133,000 after purchasing an additional 2,894,396 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Wave Life Sciences by 63.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,098,866 shares of the company’s stock valued at $63,074,000 after acquiring an additional 1,972,262 shares during the period. Loomis Sayles & Co. L P bought a new position in Wave Life Sciences in the 4th quarter valued at about $20,545,000. Polar Capital Holdings Plc bought a new position in Wave Life Sciences in the 4th quarter valued at about $12,370,000. Finally, MPM Bioimpact LLC raised its holdings in Wave Life Sciences by 138.5% in the 4th quarter. MPM Bioimpact LLC now owns 1,489,237 shares of the company’s stock valued at $18,422,000 after acquiring an additional 864,766 shares during the period. 89.73% of the stock is owned by institutional investors.

Wave Life Sciences Company Profile

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.