WAVE Life Sciences (NASDAQ:WVE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of WAVE Life Sciences (NASDAQ:WVE) from a sell rating to a hold rating in a report published on Saturday.

Other analysts also recently issued reports about the company. Citigroup upped their price objective on WAVE Life Sciences from $16.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of WAVE Life Sciences in a report on Wednesday, October 8th. UBS Group set a $30.00 price objective on WAVE Life Sciences in a research report on Tuesday, December 9th. Wedbush upped their target price on shares of WAVE Life Sciences from $20.00 to $33.00 and gave the company an “outperform” rating in a report on Friday. Finally, B. Riley raised their price objective on WAVE Life Sciences from $19.00 to $37.00 and gave the stock a “buy” rating in a report on Friday. Thirteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $30.47.

WAVE Life Sciences Price Performance

Shares of NASDAQ WVE opened at $16.11 on Friday. The business has a 50-day moving average of $8.84 and a two-hundred day moving average of $8.13. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -21.48 and a beta of -1.72. WAVE Life Sciences has a 1 year low of $5.28 and a 1 year high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). WAVE Life Sciences had a negative net margin of 111.64% and a negative return on equity of 75.61%. The company had revenue of $7.61 million during the quarter, compared to analysts’ expectations of $9.85 million. As a group, equities research analysts expect that WAVE Life Sciences will post -1.14 earnings per share for the current year.

Insider Transactions at WAVE Life Sciences

In related news, major shareholder Plc Gsk bought 1,470,000 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was bought at an average price of $19.00 per share, with a total value of $27,930,000.00. Following the completion of the transaction, the insider directly owned 18,245,691 shares of the company’s stock, valued at approximately $346,668,129. This represents a 8.76% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kyle Moran sold 210,000 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $14.77, for a total value of $3,101,700.00. Following the transaction, the chief financial officer owned 89,218 shares of the company’s stock, valued at approximately $1,317,749.86. This trade represents a 70.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 902,742 shares of company stock valued at $13,313,763 in the last three months. 23.98% of the stock is owned by company insiders.

Institutional Trading of WAVE Life Sciences

Institutional investors have recently made changes to their positions in the stock. Handelsbanken Fonder AB bought a new position in WAVE Life Sciences during the second quarter worth $330,000. JPMorgan Chase & Co. boosted its holdings in WAVE Life Sciences by 33.1% in the second quarter. JPMorgan Chase & Co. now owns 1,569,015 shares of the company’s stock valued at $10,199,000 after acquiring an additional 390,078 shares during the last quarter. Invesco Ltd. increased its holdings in WAVE Life Sciences by 97.2% in the first quarter. Invesco Ltd. now owns 78,880 shares of the company’s stock valued at $637,000 after purchasing an additional 38,870 shares during the last quarter. Strs Ohio bought a new stake in shares of WAVE Life Sciences in the first quarter worth about $406,000. Finally, Schroder Investment Management Group raised its position in WAVE Life Sciences by 29.7% in the 2nd quarter. Schroder Investment Management Group now owns 621,378 shares of the company’s stock valued at $4,039,000 after buying an additional 142,109 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

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.