WAVE Life Sciences Ltd. (NASDAQ:WVE) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) have been assigned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and fifteen have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $21.65.

WVE has been the subject of a number of recent analyst reports. B. Riley Financial reduced their target price on WAVE Life Sciences from $31.00 to $22.00 and set a “buy” rating for the company in a report on Friday, July 31st. New Street Research set a $13.00 price objective on shares of WAVE Life Sciences in a research note on Thursday, June 11th. Mizuho dropped their target price on shares of WAVE Life Sciences from $27.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, August 4th. JPMorgan Chase & Co. started coverage on WAVE Life Sciences in a report on Wednesday, September 23rd. They issued a “neutral” rating on the stock. Finally, HC Wainwright reissued a “buy” rating on shares of WAVE Life Sciences in a research report on Friday.

Insider Activity

In related news, Director Adrian Rawcliffe sold 12,700 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $5.29, for a total value of $67,183.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Heidi L. Wagner sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $6.01, for a total transaction of $42,070.00. Following the transaction, the director directly owned 44,930 shares of the company’s stock, valued at $270,029.30. This trade represents a 13.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,564 shares of company stock valued at $132,476 in the last 90 days. 24.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On WAVE Life Sciences

A number of hedge funds have recently made changes to their positions in WVE. Readystate Asset Management LP acquired a new stake in shares of WAVE Life Sciences during the 2nd quarter worth $27,465,000. Squarepoint Ops LLC increased its stake in WAVE Life Sciences by 68.0% during the second quarter. Squarepoint Ops LLC now owns 2,541,442 shares of the company’s stock worth $14,766,000 after acquiring an additional 1,029,052 shares during the last quarter. Eventide Asset Management LLC acquired a new stake in WAVE Life Sciences during the fourth quarter worth about $8,500,000. Pictet Asset Management Holding SA raised its holdings in shares of WAVE Life Sciences by 42.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,149,127 shares of the company’s stock worth $8,202,000 after purchasing an additional 343,226 shares during the period. Finally, Elmind Capital LP acquired a new position in shares of WAVE Life Sciences in the 4th quarter valued at about $7,613,000. Institutional investors and hedge funds own 89.73% of the company’s stock.

WAVE Life Sciences Trading Down 0.8%

NASDAQ WVE opened at $3.75 on Tuesday. The business’s 50 day moving average is $4.90 and its two-hundred day moving average is $6.15. WAVE Life Sciences has a 12-month low of $3.56 and a 12-month high of $21.73. The stock has a market capitalization of $738.93 million, a price-to-earnings ratio of -3.44 and a beta of -1.43.

WAVE Life Sciences (NASDAQ:WVE) last issued its earnings results on Thursday, July 30th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). WAVE Life Sciences had a negative return on equity of 50.36% and a negative net margin of 309.73%.The business had revenue of $2.27 million for the quarter, compared to analysts’ expectations of $7.45 million. Equities analysts forecast that WAVE Life Sciences will post -1.12 earnings per share for the current fiscal year.

WAVE Life Sciences Company Profile

WAVE Life Sciences Ltd. is a clinical-stage biotechnology company developing RNA medicines for genetic and other serious diseases. The company uses its proprietary oligonucleotide and RNA-editing technologies to target disease-causing genetic instructions, with the goal of selectively correcting, reducing, or modifying RNA activity.

Its development programs have included investigational therapies for conditions such as alpha-1 antitrypsin deficiency, Duchenne muscular dystrophy, and Huntington’s disease.