WAVE Life Sciences’ (WVE) Neutral Rating Reaffirmed at JPMorgan Chase & Co.

WAVE Life Sciences (NASDAQ:WVE)‘s stock had its “neutral” rating reiterated by research analysts at JPMorgan Chase & Co. in a research note issued to investors on Wednesday, Benzinga reports.

WVE has been the subject of a number of other reports. Wedbush reduced their price objective on shares of WAVE Life Sciences from $15.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. B. Riley Financial cut their target price on WAVE Life Sciences from $31.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Mizuho decreased their price target on WAVE Life Sciences from $27.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday, August 4th. New Street Research set a $13.00 price objective on WAVE Life Sciences in a research report on Thursday, June 11th. Finally, Wall Street Zen downgraded WAVE Life Sciences from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 1st. Fourteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.31.

WAVE Life Sciences Stock Up 2.1%

Shares of WAVE Life Sciences stock opened at $4.35 on Wednesday. WAVE Life Sciences has a 52 week low of $4.20 and a 52 week high of $21.73. The business has a 50 day moving average price of $5.26 and a 200-day moving average price of $6.74. The company has a market cap of $857.17 million, a PE ratio of -3.99 and a beta of -1.30.

WAVE Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.04). The company had revenue of $2.27 million for the quarter, compared to the consensus estimate of $7.45 million. WAVE Life Sciences had a negative net margin of 309.73% and a negative return on equity of 50.36%. As a group, research analysts anticipate that WAVE Life Sciences will post -1.11 EPS for the current year.

Insider Buying and Selling at WAVE Life Sciences

In other WAVE Life Sciences news, Director Adrian Rawcliffe sold 12,700 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $5.29, for a total transaction of $67,183.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Heidi Wagner sold 7,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $6.01, for a total value of $42,070.00. Following the completion of the sale, the director directly owned 44,930 shares of the company’s stock, valued at $270,029.30. This represents a 13.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 23,564 shares of company stock valued at $132,476. 24.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On WAVE Life Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WVE. AlphaCentric Advisors LLC lifted its position in WAVE Life Sciences by 5.7% in the first quarter. AlphaCentric Advisors LLC now owns 29,175 shares of the company’s stock valued at $212,000 after purchasing an additional 1,585 shares during the last quarter. First Trust Advisors LP increased its stake in shares of WAVE Life Sciences by 15.7% in the first quarter. First Trust Advisors LP now owns 13,518 shares of the company’s stock worth $98,000 after buying an additional 1,830 shares during the period. ProShare Advisors LLC raised its holdings in WAVE Life Sciences by 14.9% during the 4th quarter. ProShare Advisors LLC now owns 28,536 shares of the company’s stock valued at $485,000 after buying an additional 3,701 shares during the last quarter. Handelsbanken Fonder AB boosted its position in WAVE Life Sciences by 7.7% during the 4th quarter. Handelsbanken Fonder AB now owns 54,700 shares of the company’s stock valued at $930,000 after buying an additional 3,900 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in WAVE Life Sciences during the 4th quarter valued at $82,000. Institutional investors own 89.73% of the company’s stock.

WAVE Life Sciences Company Profile

WAVE Life Sciences Ltd. (NASDAQ: WVE) is a biotechnology company focused on developing medicines that target RNA, the biological molecule that helps translate genetic information into proteins. The company uses its oligonucleotide chemistry and delivery technologies to pursue treatments for genetically defined diseases, including conditions affecting the liver, muscles and nervous system.

WAVE’s research programs include RNA editing medicines designed to correct or modify disease-related genetic messages without permanently altering DNA.